Archive for December, 2014

ISL soon to Develop India as a Footballing Nation

December 22, 2014

The 70-day long Indian Super league (ISL) reached its finale on 20th December. Its first edition has been a huge success.

The success of ISL

ISL was successful in achieving its primary aim of revolutionizing the Indian scenario of football.This is evident from the fan support received at each stadium, the competitiveness of the league, and the spirit and enthusiasm of franchise owners. Till the last leg, all the teams were equal contenders of the semi-final.Their passion for victory was apparent.

After the revolution kicked off on October 12, footballgained importance in people’s daily discussionsat offices, dinner tables and widely on social media. The likes of Romeo, Sandesh, Cavin, Durga, Balwant have suddenly became household names. Nita Ambani was joyous to see the overwhelming response Indians gave to ISL.

ISL is created to let football win. It is a platform to benefit Indian players, providing them the right atmosphere and giving them exposure to international standards, facilities, training, diet and coaching. It reflected a difference in their attitude and body language. Indian boys are second only to Brazilians in the league in termsof number of goals scored.

Nita Ambani’s dedication in the league

Nita Ambani has given her complete involvement to make the league a huge success. She said, “I have the pleasure of being part of the strong IMG, Reliance and Star team. Personally, I like to get into the minutiae of every task, be it at my school, our newly launched hospital, my foundation work or in sports at Mumbai Indians.” She finds these as opportunities of learning and discovering.

Her biggest challenge in ISL was to create pitches and infrastructure in varied cities. “We have overcome all the challenges with our team efforts. But, we have a long journey before basking in the glory of success. We will take small steps and reach our destination of success,” she said.

The grassroots program

ISL also launched its grassroots program and all the clubs have strong commitment towards its development. They actively participate in giving ideas for reaching out to children through schools, communities and maidan initiatives. Tangible action for this will be witnessed in all 8 regions – Mumbai, Kolkata, Chennai, Guwahati, Delhi, Pune, Goa and Kochi -from January 2015 onwards.

Besides this, Reliance Foundation has also announced ‘Young Champs’ program, in which talented children in the age group of 10 to 13 will be picked for their holistic development through a full-time residential football and education scholarship.

The future of ISL

Mrs. Nita Ambani and her team will review the complete first edition after the final and work towards enhancing the overall experience. Mrs. Nita Ambani wants to strengthen this league and make it even bigger and better in the coming years. “ISL is bound to develop further as an opportunity for youngsters. India has no dearth of talent, we need to show them the right way, nurture and provide opportunities to our youth,” she said.

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Reliance Retail posts a Net Profit of Rs. 175.52 Crores in 2014

December 11, 2014

Reliance Retail posted a net profit of Rs. 175.52 crores for the financial year, 2014. Reliance Retail, initiated in 2006, has around 1700 outlets in India. This is the first year in which the company has posted profits.

Reliance Retail has multiple brands like Reliance Fresh, Reliance Footprint, Reliance Trends and Reliance Digital under it. These brands operate their retail outlets in 146 cities.

The Chairman of Reliance Industries, MukeshAmbani had shown optimism in retaining the retail business investment, in June, this year. He had confidence that Reliance Retail has a lot of potential to bring profit to its parent company. He had great expectations from the retail market. In the annualgeneral meeting, he had told the shareholders that, “In the coming years, retail will emerge as a major growth engine for our consumer business.”

Reliance Retail’s performance in the recent years

In 2010-11, Reliance Retail had gross revenue of Rs. 6,144.17 crores and net loss of Rs. 530.64 crores. In 2011-12, the gross revenue grew to Rs. 7,670.3 crores while the loss decreased to Rs. 448.68 crores. In 2012-13, the gross revenue grew to Rs. 10,820.9 crores and loss further reduced to Rs. 211.93 crores. With the tremendous change in the scenario, 2013-14 became the luckiest year for Reliance Retail. With gross revenue of Rs. 14,438.8 crores, Reliance Retailmade a whooping profit of Rs. 175.52 crores.

Position of other big operators

Very few big organised retailers have earned a profit. Reliance Retail is one of them. Big names like Aditya Birla Retail, Spencer’s Retail and Star Bazaar, are still struggling with losses. In the financial year of 2014, Aditya Birla Retail suffered loss of Rs. 596 crores. The company witnessed a loss of Rs. 13 crores more than their previous year’s loss of Rs 583 crores. On the other hand, R. P. Goenka (RPG) group owned, Spencer’s retail posted a net loss of Rs. 165.8 crores. They have managed to reduce their losses from the previous year but are yet to make a profit.

About Reliance Retail

Reliance Retail Limited, a subsidiary of Reliance Industries Limited, was started in 2006. The company’s retail outlets provide grocery, clothing, footwear, electronics, lifestyle and home decor products and farm implements and inputs. It was started with an aim to give growth opportunities to farmers, vendor partners, small shopkeepers and consumers. Some of the brands under Reliance Retail are:

Reliance Fresh:Reliance fresh sells fruits, vegetables, dairy products, packaged foods, drinks and other FMCG products. It operates in more than 93 cities with more than 700 stores and 13 million customers.

Reliance Digital: Reliance digital sells electronic goods. It has around 150 global and local brands with more than 4000 products of big names like Sony, LG, Nokia, Samsung, Panasonic, etc.

Reliance Trends: Reliance trends, started in October 2007, gives fashionable apparels for men, women and children. It operates in 52 cities with 83 outlets and incorporates more than 100 brands.

Reliance Footprint:Reliance Footprint began as a single outlet in 2007,in Bangalore and now has 200 outlets in more than 96 cities. It sells accessories, luggage and big brands footwear for men, women and kids.

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Reliance Industries signs a Pact with Mexico’s PEMEX

December 5, 2014

Reliance Industries ltd. (RIL) has signed a memorandum of understanding (MoU) with Mexico’ state-owned oil company Petroleos Mexicanos (PEMEX). Reliance industries stated the facts in a press release titled, ‘Reliance signs MoU with Petroleos Mexicanos (PEMEX)’ dated 5th December, 2014 which was given to Bombay stock exchange (BSE).

PEMEX CEO, Emilio Lozoya and Reliance Executive Director, PMS Prasad signed the deal.

The particulars of the pact

Under this pact, Reliance Industries will co-operate with the Mexican company for assessment of potential upstream oil and gas business opportunities in Mexico.

Reliance Industries want to expand their growth in the international markets to create a competitive edge for themselves. The company is hopeful of leveraging its organizational skills and create value for exploration and production for a longer period of time.

The release states, “RIL’s cooperation with PEMEX is in line with its growth strategy to explore opportunities and to expand its international asset base in regimes having internationally attractive competitive terms.”

The two companies will exchange their experiences and technologies with each other in the hydrocarbon sector. They will explore the added opportunities in varied streams of the hydrocarbons chain together. The streams range from exploration, to production, to refining and processing. Reliance will provide technical support for refining value maximisation.

PEMEX and Reliance industries, both controlled by Mukesh Ambani, will also devise environmental strategies to enable sustainable activities. They will promote social responsibility through their schemes.

The two companies will share their skills and information in the relevant areas of oil and gas industry. This includes deep-water oil and gas exploration and production.

Reliance Industries have been a pioneer in deepwater development and gave the best practises in the East Coast of India. Through the MoU, Reliance will share its proficiency. Along with this, it will also share its knowledge and experience in shale gas in United States of America.

The signing of the deal will further strengthen the long standing relationship between Reliance and PEMEX.

Mexico’s energy aspirations

Mexico, world’s tenth largest oil crude producer, is reforming its energy sector. It wants to attain $50 billion investment by 2018 to stem long-sliding crude production. It is gearing itself to open up its oil sector with the first bidding round in the coming year.

This is why PEMEX has been signing a lot of cooperation pacts. It is seeking more cooperation with India. It has said that it predicts India and China to bethe future growth markets for crude. Therefore, it had also signed a similar deal with the overseas arm of India’s state-run company, Oil and Natural Gas Corp.

Impact of the deal on market

The share prices of Reliance Industries went up by 0.56 percent. At 11:51 a.m., Reliance Industries’ shares were priced at Rs. 963.90 which is an increase of Rs.5.35. At 10:48 a.m., Nifty was also up by 0.12 percent.

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