Archive for April, 2010

Reliance Industries to retail gas in US

April 30, 2010

Reliance Industries plans to sell gas to retail consumers in the US, under the guidance of Shri.Mukesh Ambani, CMD, Reliance Industries and will use its newly-minted partnership with Atlas Energy to try and build a brand name in the intensely competitive market.

RIL, which bought 40% in Atlas Energy some weeks ago, plans to use the pipeline infrastructure that Atlas already has to supply through its own network of gas stations in the world’s biggest energy market. An RIL spokesperson declined comment on the development.

A person close to the development said RIL’s US venture, a subsidiary of RIL Netherlands, will transport gas using the network. The company initially plans to supply to consumers in New York, Virginia among others.

Having acquired the stake in the shale gas fields, RIL along with its joint venture partner Atlas Energy will soon begin work on the development of the field to start producing gas. As opposed to many crude oil and gas acreages, the shale gas fields are all proven assets (where time and money are not wasted on exploration) and RIL can get into the development stage right away.

RIL already exports a bulk of its refined petroleum products, primarily gasoline, to the US markets but is not in the retail market.

But RIL officials are gung ho about the overseas operations. The firm is looking at increased revenues from its offshore assets in the coming years and is planning to invest a bulk of its capex in these markets in the years to come, an RIL official, who did not wish to be named, said.

“We are looking at an EBIDTA of at least 35% of our revenues from global operations,” he said.

Although gas markets are currently soft with demand for natural gas seeing a huge fall after the recession, it is expected to pick up in the medium term.

RIL may also soon have some more acreages of shale gas that Atlas is expected to close on shortly. As per the understanding, RIL will get 40% of the share in every new shale gas asset. Interestingly, apart from an assured share, the company also has an understanding that it would acquire the future stake at a price not higher than $8,000 per acre. It acquired its stake in Atlas for $1.7 billion, or $14,000 per acre.

Shale gas is like natural gas that is trapped within marine sedimentary rock layers and is considered to be a promising new source of hydrocarbons. The net potential of the Marcellus fields in Pennsylvania is approximately 13.3 trillion cubic feet equivalent (tcfe) of natural gas, with RIL having a claim of over 5.3 tcfe. RIL’s KGD6 gas field on India’s eastern coast has an estimated potential of 11 tcfe.

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Reliance Industries Scholarship to Stanford

April 27, 2010
For all the Indian students who have ever dreamt of pursuing MBA from the prestigious Stanford School of Business, good news is on its way. Reliance Industries Limited along with the Stanford Graduate School of Business had announced the creation of Reliance Dhirubhai Fellowship programme in 2008 to support Indian students with financial problems. This year also Stanford School of Business will offer scholarship to Indian nationals under MBS programme.
Under this scholarship programme started by the Reliance Industries Limited, Stanford will award five Reliance Dhirubhai Ambani Fellowships every year to offer full financial support to the Indian students. This Reliance Dhirubhai scholarship will also cover expenses including travel, tuition and accommodation. This scholarship includes 100 per cent tuition cover along with all the expenses starting from applying till attending the MBA programme which is approximately $85,000 for a single student and $95,000 for a married student.
The students eligible for applying for Dhirubhai Ambani Scholarship should be citizens of India and are required to sit for a test where the aspirant needs to write a 250 word article on ‘ How do you aspire to shape your country’s future?’ Once the scholarship is awarded to the students for MBA degree, Reliance Industries want the students to return to India within two years of graduating from the Stanford School of Business and work here for the next two years and serve their own country.
Since India is a fast growing economy, good management talent is required and for this, such tie ups will surely help India to grow fast in both national and international market. The finalists are selected on the basis of merit, commitment to develop India and the financial needs. After a good academic performance in a year, the scholarship is automatically renewed for the next year also. The Reliance Dhirubhai Fellows are bound to return to India and work here for minimum two years in public or private sector.
The Stanford Graduate School of Business receives funds from various individuals, corporations and foundations every year with a number of fellowship programmes. Private companies and other organizations offer grants, scholarship and funds to MBA students. If the student is availing of the funds from the scholarship programme, then the Stanford business school does not approve of any kind of educational loans. Some other fellowship programmes offered at the Stanford include Siebel Scholars Programme, GSB Internship Programme, Social Innovation Fellowship and Entrepreneurial Summer Programme. The last date for submitting applications is June 1,2010.

For all the Indian students who have ever dreamt of pursuing MBA from the prestigious Stanford School of Business, good news is on its way. Reliance Industries Limited along with the Stanford Graduate School of Business had announced the creation of Reliance Dhirubhai Fellowship programme in 2008 to support Indian students with financial problems. This year also Stanford School of Business will offer scholarship to Indian nationals under MBS programme.
Under this scholarship programme started by the Reliance Industries Limited, Stanford will award five Reliance Dhirubhai Ambani Fellowships every year to offer full financial support to the Indian students. This Reliance Dhirubhai scholarship will also cover expenses including travel, tuition and accommodation. This scholarship includes 100 per cent tuition cover along with all the expenses starting from applying till attending the MBA programme which is approximately $85,000 for a single student and $95,000 for a married student.
The students eligible for applying for Dhirubhai Ambani Scholarship should be citizens of India and are required to sit for a test where the aspirant needs to write a 250 word article on ‘ How do you aspire to shape your country’s future?’ Once the scholarship is awarded to the students for MBA degree, Reliance Industries want the students to return to India within two years of graduating from the Stanford School of Business and work here for the next two years and serve their own country.
Since India is a fast growing economy, good management talent is required and for this, such tie ups will surely help India to grow fast in both national and international market. The finalists are selected on the basis of merit, commitment to develop India and the financial needs. After a good academic performance in a year, the scholarship is automatically renewed for the next year also. The Reliance Dhirubhai Fellows are bound to return to India and work here for minimum two years in public or private sector.The Stanford Graduate School of Business receives funds from various individuals, corporations and foundations every year with a number of fellowship programmes. Private companies and other organizations offer grants, scholarship and funds to MBA students. If the student is availing of the funds from the scholarship programme, then the Stanford business school does not approve of any kind of educational loans. Some other fellowship programmes offered at the Stanford include Siebel Scholars Programme, GSB Internship Programme, Social Innovation Fellowship and Entrepreneurial Summer Programme. The last date for submitting applications is June 1,2010.

Source:http://news-views.in/reliance-industries-scholarship-to-stanford/

RIL emerges as most profitable company

April 23, 2010

Reliance, Reliance Industries, Mukesh Ambani, RIL

Mukesh Ambani led, Reliance Industries (RIL) — India’s largest company by turnover and exports — is also set to become the country’s single-largest profitable company in FY10, thanks to its second refinery at Jamnagar and KG basin gas, when it publishes its results on Friday. On a consolidated basis, however, the ONGC Group, which includes ONGC and its subsidiaries Mangalore Refinery and ONGC Videsh, is likely to retain its leadership.

RIL, which reported a net profit of Rs 1,1526 crore for the first nine months of FY10 — around Rs 1,465 crore lower than ONGC’s — is expected to surpass the state-owned oil major’s last quarter standalone profits by over Rs 1,500 crore, according to various analyst estimates. Both companies report their quarterly numbers on a standalone basis while consolidating the numbers of subsidiaries in their annual results. ONGC Group’s consolidated net profit for FY10 is likely to remain above Rs 20,000 crore as in the previous two years.

The refining as well as E&P businesses would be the key drivers of profit growth, said Deepak Pareek, an analyst with Angel Broking. “RIL is likely to report strong performance during the quarter, primarily on account of increase in gas production and better refining margins,” he mentioned. In the past, only in FY08 had RIL’s profits surpassed those of ONGC’s, on account of extraordinary income of Rs 4,733 crore on sale of Reliance Petroleum shares. Excluding the impact of this extraordinary income, profits from operations were below that of ONGC’s.

However, now, for the first time, RIL’s profits from normal business activities, that are considered sustainable in future, are set to cross Rs 16,700 crore on a standalone basis for FY10 — the largest for any listed Indian company. ONGC, which was the single-largest profit-making company so far, is expected to close FY10 with a net profit of around Rs 16,200 crore.

In the current year, RIL’s subsidiary raised over Rs 9,300 crore through sale of treasury shares, which will add to its consolidated numbers. Although extraordinary, these profits could take RIL’s consolidated profit to a historical high hitherto unseen in Corporate India.

RIL, which is also India’s largest company by market capitalisation with a 13.2% weightage in the Sensex, witnessed a strong 46% increase in volumes in the first nine months of FY10, as its second refinery gradually reached full capacity. Higher average crude oil price — at around $78 per barrel during the March 2010 quarter as against $45 in the year ago period — is also set to boost revenues.

Source:http://www.reliance-tracker.in/ril/ril-emerges-as-most-profitable-company/

Gas sales to lift Reliance results, M&A key

April 22, 2010

India’s leading listed conglomerate, controlled by billionaire Mukesh Ambani, has been scouting for acquisitions overseas, and progress on that front will determine its outlook. Reliance, valued at $78 billion, recently said it would pay $1.7 billion to form a joint venture at one of the most promising natural gas deposit regions in the United States with Atlas Energy.

The deal followed two failed attempts to buy overseas firms as Reliance looks to expand its presence outside India, break into new markets and broaden its businesses, which include refining, oil and gas exploration and petrochemicals.

“The company has already invested in its own projects such as its gas fields in India and is going to generate a lot of cash flow,” said Deepak Pareek, an oil and gas analyst at Mumbai-based Angel Broking.

“A lot of that cash has to be pumped into overseas growth opportunities and that’s exactly what it’s done with Atlas.” Bankers say more overseas deals could be in the offing. The outcome of a long-running gas dispute with Reliance Natural, led by Mukesh’s younger brother Anil, will also have a bearing on the company’s outlook.

Reliance is unable to hit peak gas production of 80 million standard cubic metres a day (mmscmd) at its D6 block in the vast Krishna Godavari basin in the Bay of Bengal due to customers not buying allocated volumes, and a lack of pipelines. But analysts say current production of 63-64 mmscmd is still enough to boost results.

Reliance began pumping gas from the block in April last year. Analysts estimate gross refining margins (GRMs), a key measure of profitability, will have dropped about 16 per cent year-on-year in the March quarter to $8.30 a barrel, tracking a decline in Asia’s benchmark Dubai crack margin.

Reliance GRMs nearly halved to $5.90 a barrel in the December quarter. The company’s results will be helped by its acquisition last year of unit Reliance Petroleum. State-run explorer Oil and Natural Gas Corp is expected to post higher earnings on firmer oil prices, but subsidy payouts the group is required to make to state retailers will keep results muted.

A lack of clarity about the government’s subsidy rules means analysts estimates for ONGC are often disparate. “What you’d want to bet on is a company’s business or its management decisions,” said Rakesh Rawal, head of private wealth management at Anand Rathi Financial Services. “But here you are betting on whether a government policy will change or not, which just can’t be figured out.” Energy major Reliance Industries should post a second straight increase in quarterly profit, lifted by higher gas output from fields off India’s east coast and a nascent recovery in refining margins.

India’s leading listed conglomerate, controlled by billionaire Mukesh Ambani, has been scouting for acquisitions overseas, and progress on that front will determine its outlook. Reliance, valued at $78 billion, recently said it would pay $1.7 billion to form a joint venture at one of the most promising natural gas deposit regions in the United States with Atlas Energy.

The deal followed two failed attempts to buy overseas firms as Reliance looks to expand its presence outside India, break into new markets and broaden its businesses, which include refining, oil and gas exploration and petrochemicals.

“The company has already invested in its own projects such as its gas fields in India and is going to generate a lot of cash flow,” said Deepak Pareek, an oil and gas analyst at Mumbai-based Angel Broking.

“A lot of that cash has to be pumped into overseas growth opportunities and that’s exactly what it’s done with Atlas.” Bankers say more overseas deals could be in the offing. The outcome of a long-running gas dispute with Reliance Natural, led by Mukesh’s younger brother Anil, will also have a bearing on the company’s outlook.

Reliance is unable to hit peak gas production of 80 million standard cubic metres a day (mmscmd) at its D6 block in the vast Krishna Godavari basin in the Bay of Bengal due to customers not buying allocated volumes, and a lack of pipelines. But analysts say current production of 63-64 mmscmd is still enough to boost results.

Reliance began pumping gas from the block in April last year. Analysts estimate gross refining margins (GRMs), a key measure of profitability, will have dropped about 16 per cent year-on-year in the March quarter to $8.30 a barrel, tracking a decline in Asia’s benchmark Dubai crack margin.

Reliance GRMs nearly halved to $5.90 a barrel in the December quarter. The company’s results will be helped by its acquisition last year of unit Reliance Petroleum. State-run explorer Oil and Natural Gas Corp is expected to post higher earnings on firmer oil prices, but subsidy payouts the group is required to make to state retailers will keep results muted.

A lack of clarity about the government’s subsidy rules means analysts estimates for ONGC are often disparate. “What you’d want to bet on is a company’s business or its management decisions,” said Rakesh Rawal, head of private wealth management at Anand Rathi Financial Services. “But here you are betting on whether a government policy will change or not, which just can’t be figured out.”

Source:http://reliance-news.blogspot.com/2010/04/gas-sales-to-lift-reliance-results-m.html

Reliance to shut VGO Unit for a month

April 20, 2010

India’s top refiner Reliance Industries plans to shut down a 100,000 barrels per day (bpd) vacuum gas oil (VGO) hydrotreater at its old refinery for about a month later this week, an industry source said on Monday. “VGO hydrotreater will be shut for 20-30 days to change the catalyst.

The shutdown will begin from Wednesday or Thursday,” the source told reporters.

Billionaire Mukesh Ambani-promoted Reliance Industries operates the world’s biggest refining complex, at Jamnagar in western Gujarat state, that has a total processing capacity of 1.24 million bpd of crude.

Reliance’s old 660,000 bpd refinery at Jamnagar has two VGO units each with 100,000 bpd capacity. The source said there would be no impact on throughput due to the shutdown.

A VGO hydrotreater removes sulphur from heavy feedstock to produce naphtha, jet fuel and liquefied petroleum gas.

Source:http://economictimes.indiatimes.com/news/news-by-industry/energy/oil–gas/Reliance-to-shut-VGO-unit-for-a-month-Source/articleshow/5831748.cms

NTPC to buy 1.5 mmscmd more gas from RIL

April 13, 2010

State-owned power utility NTPC will buy an additional 1.5 million cubic meters a day of gas from Mukesh Ambani led Reliance Industries at government-approved price of $4.2 per mmBtu to feed its power plants in north India.

The government had allocated NTPC 4.46 mmscmd of gas from RIL’s eastern offshore KG-D6 fields but it currently draws only 1.81 mmscmd due to resistance from state gas utility GAIL to transport additional volumes, official sources said.

Close to 60 per cent of the allocated volumes were for NTPC’s Kawas and Gandhar power plants in Gujarat. But the state-owned firm did not want to use KG-D6 gas at these plants since it was in litigation with the Mukesh Ambani firm over fuel supplies to expansion projects planned at these sites.

So, an Empowered Group of Ministers (EGoM) last year decided that the state gas utility GAIL India will swap KG-D6 gas with fuel from other fields. Under this scheme, gas from western offshore Panna/Mukta and Tapti (PMT) fields that was currently supplied to NTPC’s northern India plants, was to be diverted to Kawas and Gandhar. The deficit at the northern India plants was then to be made up by KG-D6 gas.

Sources said GAIL was however not willing to implement this. It feared that if PMT gas was supplied to Kawas and Gandhar, it would displace the costlier LNG that those plants currently bought. Kawas and Gandhar currently buy imported-LNG at about 50 per cent more price then the delivered cost of RIL gas.

The Petroleum Ministry, they said, a few days back convened a meeting to convey to GAIL in no uncertain terms that the EGoM decision has to be implemented at all cost.

It was decided that 1.5 mmscmd of PMT gas that is currently being supplied to NTPC’s northern power plants would be diverted to Kawas and Gandhar. The northern plants will then be supplied KG-D6 gas.

GAIL markets gas from PMT fields which is priced at $5.65-5.73 per million British thermal unit.

Sources said the scheme would be implemented in couple of weeks. NTPC has contracted 0.79 mmscmd of KG-D6 gas for its Anta plant in Rajasthan, 0.54 mmscmd for Dadri unit in Uttar Pradesh, 0.26 mmscmd for its Auriya plant in Rajasthan and 0.22 mmscmd at its Faridabad unit in Haryana.

With the swap, supplies would go up to 3.31 mmscmd. This would still leave 1.15 mmscmd of allocated quantities to be supplied.

RIL currently produces about 63-64 mmscmd of gas as against a potential of 80 mmscmd as government nominated customers like NTPC are yet to offtake their full allocated quantity.

KG-D6 gas has replaced costly imported LNG at Anta plant to save Rs 150 crore in power generation cost annually.

Source:http://economictimes.indiatimes.com/news/news-by-industry/energy/oil–gas/NTPC-to-buy-15-mmscmd-more-gas-from-RIL/articleshow/5784912.cms

RIL makes 4 new gas discoveries at KG D6

April 12, 2010

Reliance Industries has informed oil regulator DGH that four smaller gas finds surrounding the D-1 and D-3 fields in the Krishna-Godavari basin can be commercially exploited.

Mukesh Ambani‘s RIL on February 19 informed the oil regulator Directorate General of Hydrocarbons (DGH) that four smaller gas finds, surrounding the D-1 and D-3 fields, which are currently producing around 62 mmscmd of gas, can be commercially exploited, sources in know of development said.

RIL estimates that four smaller gas finds in the prolific KG-D6 block may contain 1-2 Trillion cubic feet of reserves and may help prolong peak output of 80 million standard cubic meters per day (mmscmd) from the block, sources said.

“These four finds were made in 2008 and RIL had at that time notified them as discoveries. They have now submitted ’Potential Commercialilty Interest’ which means that they can be exploited commercially,” a source said.

Once DGH approves commerciality, RIL will submit a detailed development plan, detailing investment and production potential.

RIL has so far made 25 oil and gas discoveries in KG-D6, of which two – D1 and D3, have been put on production at an investment of $ 8.836 billion. Besides D1 and D3 gas fields and MA oil discovery, nine other gas finds were previously declared commercial and now four more may be added to the list.

In 2008, RIL submitted plans to invest $ 5.91 billion in nine satellite finds but later pruned the list to just four considering government-fixed gas price of $ 4.20 per million British thermal unit did not justify such high additional investment.

The company on December 29 revised this to $ 1.5 billion spanning 0.6 Trillion cubic feet recoverable reserves in the four finds that could produce 10 mmscmd for 6 years.

The remaining five discoveries had been kept for developing at a later date, sources said adding these five and the four finds that are now in the process of being declared commercial may be clubbed together for development.

It will take 4-5 years to bring to production the four finds for which field development plan (FDP) has been submitted and the other finds may not come into production before 2016 by when D1 and D3 output would have hit decline phase.

The discoveries would be tied-up with Dhirubhai 1 and 3 (or D1 and D3) production facilities, which are designed to handle 80 mmscmd of output.

Sources said the mining licence for most of the 1.9 million acres of KG-DWN-98/3 or KG-D6 block has expired that it would need extension from the government to do additional exploration work.
The mining lisence expiry, however, may not impact the approved commercial finds which would be more governed by the field development plan approved by the DGH and the government.

Source:http://beta.thehindu.com/business/article392880.ece

RIL: Supply contraints restrict KG-D6 gas output at 63 mmscmd

April 7, 2010

Mukesh Ambani led Reliance Industries today said it is producing 63-64 million standard cubic meters per day of gas from KG-D6 fields, over 20 per cent less than the potential due to constraints in pipelines transporting the fuel to consumers.

“We have already tested facilities for producing (peak output of) 80 mmscmd (from eastern offshore KG-D6 fields) … we are however maintaining production at 63-64 mmscmd currently,” RIL Executive Director P M S Prasad told reporters here.

The company is forced to restrict output as state-owned gas utility GAIL’s pipelines in the west and north India do not have capacity to transport additional gas.

“There is pipeline constraint,” he said. GAIL hopes to complete expansion of its main trunk line HVJ this year after which more gas can be moved to consumers.

Prasad said RIL was currently producing about 21,000 barrels per day of oil from the D6 block and would need to drill 1-2 more wells to reach the peak output of 35,000 bpd.

Source:http://economictimes.indiatimes.com/news/news-by-industry/energy/oil-gas/Supply-contraints-restrict-KG-D6-gas-output-at-63-mmscmd-RIL/articleshow/5768102.cms

Gas production surpasses oil for the first time in 2009-10

April 5, 2010

Natural gas from Reliance Industries’ prolific D6 field has generated savings worth thousands of crores of rupees for power and fertiliser companies, the main users of the gas.

Commercial production from the field in the Krishna Godavari (K-G) basin started on April 2 last year.

The gas-based power industry is estimated to have saved Rs 6,000 crore over the last year, while the government’s fertiliser subsidy bill is estimated to be lower by Rs 3,100 crore.

Users within the country could get gas from the D6 field, located off the Andhra cost, at a landed cost of $ 4.2 per million British thermal units (mBtu). This price was much lower than alternates like imported liquefied natural gas (LNG), the price of which touched over $20 per mbtu. It was, however, higher than the subsidised price at which the government sold gas to select customers.

NTPC, the country’s largest power producer, could reduce its pricey LNG imports as domestic gas became available. The power sector, the biggest consumer of K-G gas, was sold about 18 mscmd of gas, used across 4,745 Mw of power capacity.

According to industry experts, the cost of generating power from naphtha, assuming a naphtha price of $10 per mBtu, would be Rs 3.97 per unit, while the cost of generation from KG-D6 gas assuming a delivered price of $6 per mBtu would be Rs 2.50 a unit. “Depending on the current price of naptha (which is an alternative feedstock), the power sector is estimated to have saved about Rs 6,000 crore while using gas as feedstock,” said Rakesh Jain general manager (energy division) at Feedback Ventures.

These savings have gone to the pocket of the consumer, according to Jain, since most producers have agreements with the state power utilities to simply pass on the cost of fuel to the consumers.

The average saving to a household in Andhra Pradesh, a state which houses some of the plants to which the D6 gas has been allocated, would be as much as Rs 300 per month, according to industry experts.

This is assuming an annual power consumption of 2,448 kilowatt hour.
The fertiliser sector also benefitted, as it switched to gas.

“It has been a very good experience. The supplies have been stable, leading to smooth operations, and we did not use any naphtha (as fuel) in the past one year. The subsidy saving to government from our plant alone is around Rs 100 crore,” said Kapil Mehan, executive director, Tata Chemicals.

The company is using 0.88 million standard cubic metres a day (mscmd) of K-G gas at its fertiliser plant in Babrala (Uttar Pradesh). The total gas supply to fertiliser sector during 2009-10 was 12.24 mscmd, which translated to a production of 6.10 million tonne of urea.

The D6 field is currently producing 60 mscmd of gas.

The government, through its gas utilisation policy, has made allocations to various priority sectors like power, fertiliser, steel, city gas, refineries, petrochemicals, LPG and captive power.

The power sector has been allocated 31.165 mscmd of gas on a firm basis and another 12 mscmd of gas on fallback basis. The fertiliser sector has been given firm allocation of 15.508 mscmd, refineries have been given 5 mscmd of firm allocation and 6 mscmd of fallback allocation and the steel sector has been given 4.19 mscmd firm allocations.

A fallback allocation implies that the sector will get gas if the firm allocation of other sectors is not fully consumed due to some reason.

Source:http://www.business-standard.com/india/news/power-fertiliser-firms-reap-gains/390496/

Reliance TimeOut in association with Harper Collins launches ‘Lanterns on their Horns’

April 1, 2010

The Reliance TimeOut store in Gurgaon saw the debut of the novel ‘Lanterns on their Horns’ by bestselling author Radhika Jha. The new novel, set in the hinterlands adjacent to Khandwa, Madhya Pradesh, is about technology and transformation, poverty and politics.

Jha’s ‘Lanterns on their Horns’ has been launched by Harper Collins in association with Reliance TimeOut. Deepinder Kapany, the business head of Reliance Timeout said, “We are thrilled to have one of the bestselling authors, Radhika Jha in our store to launch her new novel, ‘Lanterns on their Horns’. I am sure readers will love her book and relate to it.”

Radhika Jha is careful to give us a cross-section of the things wrong with rural India. In the process, she offers academics and students in literary studies several ‘issues’: superstition, caste, gender, poverty. The basis of her story – the transformation of Nandgaon, is problematic in such that technology does not solve basic problems if there isn’t education and equality of access. That village life is as complex as the urban, we know from Jha.

‘Lanterns on their Horns’ showcases a wide cast of characters in this with playful irony and humor to lay bare an India that struggles daily and in innumerable ways with the overreaching issue of modernization – the ethics of it, and its impact on traditional social structures.

The audience at Reliance TimeOut was in for a treat as the launch was followed by reading session by Radhika Jha herself. The book reading was followed by a discussion, of the novel where Jha interacted with the audience and shared few interesting essentials from her new novel. The audience enthusiastically responded with questions and a few also shared their own views.

In the typical trend of launches and events of Reliance TimeOut, the books, magazine and music specialty format of Mukesh Ambani led Reliance Retail audience engagement was at its zenith. As Deepinder Kapany’s claims, “It is the aim of the Reliance TimeOut to constantly have exciting and engaging book readings, launches and events at the store and this is another event in that direction.” Like her previous bestseller ‘Smell’ and now ‘Lanterns on their Horns’, Radhika Jha will consider launching her next bestseller at Reliance Timeout as well.

Source:http://news-views.in/reliance-timeout-sees-the-launch-of-lanterns-on-their-horns/