Archive for January, 2012

RIL’s Long-term Credit Rating Unaffected : Standard’s & Poor

January 30, 2012

Standard & Poor (S&P), a US based financial service company recently released a statement remarking that the long term corporate credit rating on Mukesh Ambani-led Reliance Industries Limited (RIL; BBB/Positive/–) has remained unaffected despite the company’s recent plans to buy back its equity shares. If anything, Reliance Industries ambitious plan to buy back its shares at Rs. 870 a share (one of the largest ever buyback programs in Indian corporate history) is quite likely to reflect confidently on the current share price of the conglomerate. This buyback announcement, more than anything, will signal a strong commitment from the company to increase the valuation of its share price with respect to its intrinsic worth. S&P also acclaimed that despite a 25 per cent drop in RIL’s EBITDA (Earnings before Interest, Taxes, Depreciation, and Amortisation) in the quarter ended December 31st2011, the factor is least likely to affect RIL‘s existing credit rating regardless of many industry speculations about the same.

S&P is of the view that Reliance Industries Limited’s liquidity will continue to hold fort despite the buyback, considering the company’s significant cash and cash equivalent reserves of Rs. 745 billion as on Dec 31st2011. And given the buyback is expected to produce at least Rs. 104 billion in cash outflow, the additional sum will only help mitigate the impact of volatile operating performances in refining and petrochemicals quarter, if any. The S&Ps report cited that the rating on RIL had already factored in these volatile elements, including the challenges the company is facing with respect to its prolific KG-D6 gas block in the Andhra coast.

Reliance Industries present rating of BBB+ is reflective of the fact that the company has adequate capacity to meet its financial commitments. However, adverse economic conditions or changing circumstances could possibly lead to weakening of the capacity of the obligor to meet its financial commitments. Regardless of this, if cynical discrepancies do erupt to hinder Reliance Industries core business’ performances, the support foundation in the form of robust cash reserves will help impede any adversity to a large extent. “We believe RIL’s financial performance will remain strong in the next 12 months, with the ratio of adjusted debt to EBITDA at less than 1.5x. We adjust the ratio for cash and cash equivalent excluding Rs 75 billion, which we assume the company needs for its operations. In our view, RIL’s business strategy, particularly the use of its significant cash balances, would be a key determinant of any future rating action on the company”, stated S&P in its statement.

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Reliance Digital Offers Cart Kings On Advance Booking Of New PSP E 1004

January 19, 2012

This New Year’s, Reliance Digital Stores, the one stop shop for all kinds of electronic products has vowed to please its customers by launching new, exciting offers almost daily. Reliance Digital is offering a great prize on the purchase of New Sony PSP E 1004.

The offer ‘Pre-Order the new PSP E 1004 & get the free game: Cart Kings!’ starts from 20th January 2012 till 26th January 2012. Cart Kings is an amazing game designed to entertain children for hours at end. The comical characters and vibrant colors in the game attract young minds and keep then happily occupied for several hours. The PSP E 1004 is scheduled for launch on January 20th. You can pre-book your PSP E 1004 by paying a token amount of Rs. 500. This offer is valid strictly on first come first serve basis and one ought to hurry to avail it.

All those who are interested in availing this offer need to fill an Advance Booking form on the Reliance Digital Website. Personnel from Reliance Digital will contact the eligible applicants, who will then need to pay the advance token amount. Reliance Digital is also offering a gift voucher worth Rs. 500 after paying the token amount. The remaining amount needs to be paid on delivery of the product. Hurry! Offer valid till stocks last!

About Reliance Digital: Reliance Digital is the electronics arm of Reliance Retail. It offers all types of electronic items ranging from LCDs, LEDs, mobile phone, laptops, IT accessories, home theatres, home appliances and many more electronic appliances. It has a special technical support arm, the ResQ team which deals with pre-sales queries about all products, installation, and maintenance and repairs too. It offers complete product life support. Reliance Digital truly abides by its tagline, ‘We bring technology to life for you.’

RIL will recover its cost in KG-D6 fields; majority supports the company’s efforts

January 16, 2012

Despite the best assertions of oil ministry, Mukesh Ambani led Reliance Industries Limited (RIL) stands to recover costs it incurred in the development of its much talked about oil and gas acreage – KG-D6 fields, after gathering a majority support from stake holders in the gas field.
Oil ministry and its technical arm Directorate General of Hydrocarbons (DGH) have tried to prevent this from happening by stating that Reliance Industries can be penalized for fall in output from KG-D6 blocks which were vehemently noted to contain zealous resource acreage. However, RIL, along with other industry officials, have duly noted that geological constraints and uncertainty cannot possibly be gauged by any operator until they are knee deep in the actual process. KG-D6 failed to generate speculated oil and gas resources but, as per recent findings from a study conducted by RIL and its partner BP Plc, the region around KG-D6 continues to hold much promise as against any other field at present.
And while DGH would have liked to amend the action by enabling a resolution in KG-D6 Management Committee (MC), neither the government nor any state run firm has any stake in operations of KG-D6 fields. The MC takes a decision only if it is backed by parties representing at least 70% stake in the block, along with support from government nominee, if any. And if majority outranks the veto presented by a government nominee, the decision is taken in favor of the majority. Because KG-D6 does not have a government nominee, individual stake holders are the ones to decide the fate of KG-D6 cost recovery issue. At present RIL and Niko have stakes in D6 operations, while BP Plc, which signed a deal with RIL to claim 30% stake in its oil and gas acreage, is yet to formally join the production sharing contract (PSC).
DGH has claimed that operator RIL is at fault for not drilling enough wells but it has failed to overlook the extensive work that has gone into KG-D6 over the years. While output has not lived up to its expected mark, it has shown prospect for growth. Plus, this issue has brought to the shore the lack of government’s trust in oil and gas operators. While discrepancies arising from natural factors cannot be avoided or overlooked, government ought to show consideration for development efforts that go into functioning of a major undertaking as KG-D6.

Reliance Industries has been given a reprieve by the DGH in the KG-D6 basin case. The official Statement from the DGH states that INdian govt cannot stop Reliance Industries not recover cost from D6 basin.

Reliance Digital Reviews About Nokia Lumia Handsets

January 4, 2012

Communication has been made easier and faster due to the technological improvements, innovations and launches. Smartphones have set quite a trend in the Indian market. Smartphones are high end mobile handsets built on a mobile computing platform. The Indian market offers a wide range of smartphones and it is very confusing to choose one from among so many options. So, in order to reduce your confusion we have enlisted a few features of Windows Smartphones based on Reliance Digital Reviews.

Reliance Digital is a leading provider of electronic products offering over 4000 electronic products and more than 150 national and international brands. Reliance Digital is known to keep up its slogan ‘we bring technology to life.’

Nokia’s first two windows phones are Nokia Lumia 800 and Nokia Lumia 710. Both these smartphones give an amazing user experience. Nokia Lumia 800 has a 1.4 GHz processor, 16 GB of storage and Carl-Zeiss Camera. With a 3.7 inch display, it is available in 3 vibrant colors. It is certainly a stunning handset to set your eyes upon. Nokia Lumia 710 is designed with the ulterior motive to perform. Its processor and storage is the same as Nokia Lumia 800. This handset will be available in black and white with numerous colored backs which include cyan, fuchsia, yellow, etc.

Both these smartphones are the best smartphones built in the history of time. The Lumia phones are equipped with excellent built-in navigation with Bing Maps. They allow customization to enhance your experience. The Windows Phone ecosystem intends to develop compelling apps to take complete advantage of new and unique software and hardware features. Windows Smartphones will make a smart possession that will be envied by many.

If you want more details about any other smartphones, you can visit the nearest Reliance Digital store. To locate the nearest Reliance Digital outlet, you can check the Reliance Digital Website. It features a ‘store locator’ tab which provides information about all Reliance Digital Stores. Alternatively, you can write in to their technical experts by filling in the Reliance Digital Feedback form available on their website. A representative will get back to with an appropriate solution.