Archive for January, 2011

India Inc. represented by the likes of Mukesh Ambani at Davos World Economic Summit

January 27, 2011

A powerful confluence of heads of state, business men from affluent enterprises, political, media and religious leaders, and NGOs from 50 different counties gather every year in the little town of Davos in Switzerland to discuss and work out world’s economic problems.
This year’s summit saw India Inc. shine out overwhelmingly as the likes of Mukesh Ambani and many other top level corporates joined in with full garrote. The Indian contingent, strong by almost 95 uber-powerful representatives, saw a team comprising of Reliance Industries Limited’s (RIL’s) Mukesh Ambani, head of India’s largest private sector holding, in addition to Nikhil Meswani, Azim Premji, Chanda Kochchar, Anand Mahindra, Sunil Mittal, Francisco D’Souza, Adi Godej and many more.
The main attraction at this year’s summit is set to be CII’s ‘India Inclusive’ campaign, which aims to raise India’s profile as a vibrant democracy, a fast-growing stable economic power, and a hub of culture and art. The campaign plans to bring the best of India in business, politics, arts and culture, social entrepreneurship, science and technology. This feat will be spearheaded by Reliance’s Mukesh Ambani.
India is very much the buzzword as every meeting; every party has Indian representatives in favorable light. The word around the summit was all about the growth stories and prospects that India hones so dearly. The USP that Indian economy is currently carrying in the eyes of global investors is suggestive of Goldilocks, where growth is high yet stable and sustainable, making it an attractive investment destination. And its growing emphasis on inclusive development is likely to aid India’s dynamism in the decades to come.
Area’s like banking food, energy and climate will be the primary focal points of renovation for India. As the chief architects of modern Indian economy join forces, it can very well be assumed that the likes of Mukesh Ambani and related associates will navigate India to a bright economic future. Even though the economy currently battles the problem of price rise and infrastructural backwardness, it is through intellectual inputs and monetary push by these mighty men that India Inc will splash ahead.

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RELIANCE BRANDS AND QUIKSILVER HOLDING JOIN FORCES

January 14, 2011

Reliance Brands Ltd, a subsidiary of Mukesh Ambani owned Reliance Industries Limited (RIL), has signed an exclusive long-term licensing agreement with ‘Quiksilver Holding’, a fully owned subsidiary of Quiksilver Inc- the world’s leading outdoor sports lifestyle company- to launch its core brands ‘Quiksilver’ and ‘Roxy’ in the Indian sub-continent. Quiksilver Holding designs, produces and distributes a diversified mix of branded apparel, footwear, accessories, snowboards and related products. The company’s Quiksilver, Roxy, DC, Lib Tech and Hawk brands are some of the most sought after brands in the global market today.

Reliance Brands plans to set up 6 new stores under this agreement within the year 2011, with an offering that includes sports apparels, accessories and footwear. Targeted at the age group of 16 to 25 years, ‘Quiksilver’ and ‘Roxy’ will bring to the table a range of products that capture the aspirations, sensibilities and mood of this age group. These brands are almost synonymous board-riding culture of surfing, skateboarding and snowboarding; an adventure sports segment that is currently quite untapped in Indian subcontinent. What’s more is that they stand for creativity, confidence, progressiveness and adventure; qualities that hone a sweet spot within this target group.

The essence of ‘Quiksilver’ and ‘Roxy’ lies in its appeal and form. Having expanded from boardshorts to offer shirts, t-shirts, pants, jackets, footwear, hats, backpacks, eyewear and other accessories for young men, Quiksilver is committed to ensuring its products blend functionality, innovation and durability. Similarly, ‘Roxy’ is all about fashion and comfort for the adventurous and free-spirited young girls, with innovation of design minted in simplicity. Coined with Reliance’s excellent market tapping abilities, it is likely that these two brands will create quite the storm in sports apparel segment.

Reliance Brands handles international and local brands in the premium and luxury segment across apparel, footwear and lifestyle businesses under the umbrella of Reliance Industries. Darshan Mehta, President & CEO, Reliance Brands Ltd. said, “Boardriding, one of the most sought after adventure sports, is increasingly perceived as a state of ‘new cool’ by the youth globally. Our association with Quiksilver will introduce a casual, fun and adventurous lifestyle to the discerning Indian youth. We are very excited about the association which promises to pioneer a global youth trend across the region.”

RELIANCE ALLOTS 2.86 LAKH SHARES TO EMPLOYEES

January 6, 2011

Mukesh Ambani led business conglomerate Reliance Industries Limited (RIL) had decided to allot 2.86 lakh shares to the employees under employees stock option scheme (ESOP). RIL said in a Bombay Stock Exchange (BSE) filing that the company has allotted 2, 86,932 equity shares of Rs 10 each, on January 03, 2011, in agreement to the ESOP scheme of the company.
The value of these shares in works out to be roughly around Rs. 30.81 crore based on the day’s closing price of Rs. 1,073.90.
In November, 2010, RIL head Mukesh Ambani had announced that the company would allot 2.25 lakh shares to its employees in near future. The company had earlier issued 2.18 lakh shares to its employees in October, 2010.
This is one of the many ESOPs Reliance has issued to its employees in all the years of its functioning. According to industry estimates, one of the largest ever employee stock option plan for the manufacturing industry in India was carried by Reliance in the year 2007, when it allotted shares worth nearly Rs. 4000 crore in ESOP.
ESOP is a call option on the common stock of a company, issued as a form of non-cash compensation, usually allocated in the form of company shares. It is common activity in many public sector companies and is usually restricted to the top management.

Reliance Industries Ltd has a history of excellent relationship between top and junior management. The employees are a dedicated force working towards the common cause of commitment to excellence and it is through these gestures of appreciation that they find their standing in the company a rewarding and meaningful one.

Reliance has had a successful run in the stock exchange in the previous financial quarter. With mergers and acquisitions lined up and future prospects for expansion and development on the cards, this move by Reliance is a thoughtful one to reinforce in its team a sense of incentive and ownership. Reliance currently plans to foster development and expansion of its existing plants and refineries and also put focus on transforming their business modules as per global standards.