Archive for April, 2011

Reliance Industries Ltd. leads the pack of India’s most powerful companies

April 26, 2011

Mukesh Ambani run Reliance Industries Limited (RIL) has been voted as the most powerful of the 57 Indian companies that were listed on the worlds most powerful publically listed companies as brought out by Forbes Magazine. The standing was based on a firm’s rankings for sales, profits, assets and market value combined. RIL currently leads the pack of all Indian companies that managed a feature on the list with sales of $ 45 billion (about Rs 2, 00,000 crore) and a ranking of 121(up by 5 ranks as compared to last year) on the list of the 2000 global companies. Others on the list included the likes of State Bank of India at 136, Oil and Natural Gas Corporation at 172 and India Oil Corporation at 243. As per the ranking analysis, the 57 Indian companies on the list account for $ 465 billion in revenues, $ 50.64 billion in profits, $ 1.68 trillion in assets and $ 814 billion in market value.

As per the results, it was been valuated that Mukesh Ambani, is undoubtedly pushing the mettle of his company in order to reach the top slots next to the world’s major. So much so, that Time Magazine has voted Mukesh Ambani as one of the top most influential people in this world. Credits for this strong status can be directed to Mukesh Ambani’s recent forays and tie-ups with world’s other powerful enterprises, including BP and DE Shaw, in order to augment Reliance’s standing in the global front. Being a domestic flagship, it was time for Reliance to thrust more coal into their functions so as to uplift the company to international levels. And the bet has payed off well. Reliance Industries had encountered a successful first financial quarter ending March 2011, and the prospect looks bright for the year ahead. With many high-flying deals lined up for the fiscal year, especially the large scale global ones, RIL is definitely in for more growth and consequential growth in its power quotient.

Advertisements

Mukesh Ambani run RIL gets highest grade from Fitch Ratings

April 25, 2011

Fitch Ratings, a world renowned global rating agency, affirmed its highest grade in favor of Mukesh Ambani run Reliance Industries Limited (RIL) for its long-term national rating, credited to the company’s strapping profile in the oil and gas segments. The agency also allotted moderate ratings on RIL’s long-term Foreign Currency and Local Currency issuer default rating while en route its revision of the latter aspect to a more stable outlook.

In their official statement, Fitch Ratings accorded India’s largest private sector company, i.e., RIL’s long-term foreign currency issuer default rating a ‘BBB-‘, long-term local currency IDR a ‘BBB’ and national long-term rating an ‘AAA(ind)’. AAA is the highest rating accorded to a company with lowest expectation of default list, while a rating of BBB indicates a moderate default risk comparative. Fitch also noted that the remarkable ratings on account of RIL continue to reflect Reliance’s strong business profile in the oil and gas category. Credited to its vertical diversification across the supply chain (upstream, refining and petrochemicals), its efficient refining functions, its overriding position in the Indian petrochemicals quarters and its scale of overall operations have enabled Reliance to reap such stupendous rankings.

It is likely that Reliance’s credit metrics will strengthen down the line, in the light of many fruitful deals it has ventured into, including the RIL-BP endeavor. With access to good financial resources from external bodies, the company is likely to cash in strong liquid assets. And it is this strong liquidity position that has accorded Reliance with top ratings.

Fitch Ratings is a global rating agency that takes into perspective the objective and balanced credit opinions, research and data while allotting ratings to a company. The ratings are greatly sought as information assets by investors, issuers and other market participants. The additional context, perspective and insights the ratings provide, help in better understanding and valuation of a company.

Mukesh Ambani and Mumbai Indians: The factor of Ms

April 18, 2011

They say a good businessman can spot business in every opportunity, but a great businessman sees opportunity in every venture. Needless to say, a personification of this avowal can very well take form of Mukesh Ambani, head honcho of Reliance industries Limited (RIL) and owner of IPL franchise ‘Mumbai Indians’ in every sense of good reason.

From what started off as a venture of great potential, Mumbai Indians today is at the zenith of success, high on value quotient and profitable on every marketing aspect there is. For most parts, the players skimmed ashore with flying colors credited to their efforts and team work, but the one to make Mumbai Indians the brand it is today is Mukesh Ambani himself. The first two seasons saw the team scratch the pith, but third season onwards the efforts that went into work, in terms of creating a wholesome brand out of the team, were unprecedented. Morale, Method and Marketing were the three key aspects that were steeped into the crux of the team, churning out a well-driven, well-established and a well-known team. It was important to integrate efforts of every factor that goes into making a wholesome team: the players, the mangers and the marketers. With vertical integration of all factors, today Mumbai Indians enjoys the highest brand value amongst all the franchises.

Mukesh Ambani and Reliance Industries Limited are synonymous with the ‘value’ concept. And Mumbai Indians has been incorporated into this value system in very much the same manner. Realizing that cricket is more than just the game today, Mukesh Ambani has set himself as the backbone of the franchise, supporting it in all matters business. While the reins of the team are in the hands of his wife, Nita Ambani, Mukesh Ambani continues to function from the backline. It is this conjunction of front line and backline efforts coined in perfect harmony with the efforts of the team players that Mumbai Indian has reached celestial points.

As for the future of this IPL franchise, it is quite implicit that given the velocity at which the team is moving forward – in terms of form, efforts and dedication of both the players and its supporting cohorts – the team will be the one to look out for.

Bank of America grants Mukesh Ambani its shares as fee

April 14, 2011

Mukesh Ambani, chairman of India’s largest private sector enterprise Reliance Industries Limited (RIL), has been reportedly been awarded $ 24,700 worth of shares from Bank on America Co., on his appointment to the board of directors of the corporation.

According to various reports, it is likely that the iconic Indian entrepreneur will likely receive Rs10 mn in cash and stocks as the annual director fees going by the bank’s director compensation policy. However, the bank has not disclosed its specific director fees just yet.

It has also been reported that Bank of America is currently dwelling over the guidelines and regulatory measures it will have to follow as it plans to venture into a business with RIL, given its chairman has now joined their ranks of the board of directors.

Bank of America, the largest bank holding company in the USA and the second largest in terms of market capitalization, had announced last month that Mukesh Ambani will chair as the 14th director of the corporation, and, as per the U.S. Securities and Exchange Commission filing, he will serve on the BofA’s credit committee and the compensation and benefits committee. Mukesh Ambani is the first non-U.S. citizen to join the ranks of board of directors and the youngest independent board member to join one of the world’s largest financial institutions.

As of yet, Mukesh Ambani is likely stand for election at the 2011 Bank of America annual meeting of shareholders in the month of May. He is honored at being part of this great institution and looks forward to working with them. Likewise, the BofA members are more than happy to welcome Mukesh Ambani under their home turfs and they hope to benefit from the global perspective he will bring to board.

Nita Ambani: The tour de force behind Mumbai Indians

April 8, 2011

Nita Ambani has forever been regarded as the wife of Mukesh Ambani – the chairman of Reliance Industries Limited (RIL) and the owner of the Indian Premier League franchise of Mumbai Indians. Having been behind the scenes for the first two years, Nita Ambani has now surfaced to support her team in full gusto and enthusiasm as they step into the fourth season of IPL.

After a mortifying melt down at second IPL season in South Africa – six losses in their last eight matches – she was determined to move out of the back to run the actual course of her team with her own hands. The dejection of defeat transformed her from an owner’s wife to a cricket devote and, eventually, the real chief executive officer of her team. Nita Ambani was now determined to play a more inclusive role in the workings of the team to ensure that team does not fall apart here on. And as history remains testament to her efforts, Team Mumbai Indians has managed to reach to the top slots within a short span of just one year.

In actuality, her evolution into a cricket aficionado and her hands-on engagement with the team is just two years old, but the amount of hard work and effort that she has put in to restructuring the team into a proficient one has earned her much accolades. Last year, she was part of the core committee of Mumbai Indians along with four other members and was fervent in taking important decisions relating to the matches in rigorous session of meetings.

Not only has she involved herself in the management of the team, but she has made sure understands the nuances that go in the actual game. Today she has become sound enough to evaluate the makeup of a pitch, the various gradations of the ‘doosra’ or even a cricketer’s ability to pace an innings. She calls Wankhade stadium her workplace for the next 50 days of the IPL h and her incessant meetings with the team manager and Nikhil Meswani are only the part and parcel of her daily discourse. Her dedication is readily there for everyone to see as Mumbai Indians pad up to rope in a victory this time around.