Archive for October, 2015

Reliance Industries to Sign Revised Listing Agreement with BSE

October 28, 2015

The largest private conglomerate, Reliance Industries signed the revised listing agreement with the Bombay Stock Exchange (BSE), as per the recent Listing Regulation, issued by the Securities and Exchange Board of India (SEBI). The Mukesh Ambani-led company is the first corporate house to do this.

New Listing Agreement

Previously, the listing agreement used to be bilateral. It wassigned between the stock exchange and the company, while SEBI had no control overit.

In September, this year, SEBI issued these new regulations and set the deadline of six months. A statement mentioned that Reliance Industries is the first listed company to conform to the SEBI rules.

SEBI issued the Listing Regulations from 2nd September, 2015, which would be effective from 1stDecember, 2015. As per the regulations, SEBI has asked all listed companies to compulsorily enforce a new and simplified Listing Agreement. The companies have to sign the agreement with the stock exchange, where they are to be listedbefore 2nd March, 2016. The companies will have to sign the agreement within the timelines specified by SEBI.

BSE, in a statement, said that it is pleased that the process of revised listing agreement as per SEBI’s rules was started at BSE. “It is a matter of pride for both, that one of the top companies of the Indian corporate sector has become the first company to sign the new listing agreement with Asia’s oldest and the world’s fastest stock exchange BSE”.

BSE is hopeful that all the listed companies will ensure that they sign the new listing agreement within the specified deadlines. The new SEBI rules incorporate corporate governance principles and offer broad principles for timely disclosures by listed companies. SEBI has directed that a small version of the listing agreement be prescribed for the company to sign.

Plans of Reliance Brands

Reliance Brands, a part of Reliance Industries’ retail arm, Reliance Retail, is planning to enter the beauty and kids’ wear sectors. It will boost its online presence by rolling out web stores under its name. The e-commerce portal will include many popular and international brands.

CEO of Reliance Brands, Darshan Mehta, stated that kids’ clothing forms a large part of consumer spending. He revealed that Reliance Brands is looking for partners that have good knowledge of the Indian consumer market. The company will be positionedin the mid-market segment.

Mehta said this at the launch of Hamleys’ first store in Kolkata. One of the largest toy sellers, Hamleys is the biggest business partner of Reliance Brands. Hamleys operates 14 stores in 8 cities of India.

At present, Reliance Brands is associated with 18 international mid-to-luxury brands. Out of these, 7 brands are sold online on e-commerce websites like Amazon, Myntra, and Flipkart. Mehta informed that Reliance Brands is planning to set up a dedicated online presence for all of the brands. Currently, 5% of the total revenue of Reliance Brands is generated from the online business.

Summary

Reliance Industries Limited (RIL) is the first corporate house to sign the revised listing agreement with BSE, as mandated by SEBI.

Sir H.N. Reliance Foundation Hospital introduces Prostate Cancer Clinic

October 21, 2015

Sir H. N. Reliance Foundation Hospital and Research Centre introduced a ‘Comprehensive Prostate Cancer Clinic.’ Dr. Ashish Kamat, Professor and Attending Surgeon in the Department of Urology, The University of Texas MD Anderson Cancer Center (MDACC), USA, inaugurated the clinic. The clinic will make use of the latest techniques in robotic surgery to treat patients.

Inaugural Seminar

MDACC is known for its high-quality and multidisciplinary cancer care approach. It is the leading hospital for cancer care in the USA.

At the inaugural seminar, cancer experts from MDACC stated that an approach emphasizing early detection, prevention and awareness is the need of the hour. Experts from both institutions talked about robotic surgery. They stated that it is a minimally invasive surgery, which will protect the nerves around the prostate gland. It will thus, protect the urinary tract and sexual organs. A medical symposium on ‘Robotic Urological Surgery & Urological Oncology Update 2015’ was given to those attending the seminar.

As per a report from the ‘National Cancer Registry’, Kamrup district of Assam has the highest number of prostate cancer patients in India. Other places that follow are Delhi, Bangalore, Thiruvananthapuram, Mumbai, Pune, and Chennai.

Medical Director and HOD Surgery, Consultant – General, Thoracic and Vascular Surgery at Sir H.N. Reliance Foundation Hospital,Dr. Gustad Daver revealed that prostate cancer cases are highest among urban males. He expressed the view that men aged between 50 and 75 should undergo screening for prostate cancer, especially if anybody in the family has or had the disease. “We will aim to provide all aspects of care for prostate patients within our premises,” he added.

Cancer care at the Hospital

With its new clinic, Sir H. N. Reliance Foundation Hospital aims to offer complete support and services to patients under a single roof. The clinic will work on patient awareness, which will help to prevent or quickly detect prostate cancer. A team of doctors will also counsel patients to help fight the disease.

Depending on the stage of cancer detected, patients will be recommended medical, surgical, or radiological treatment. Patients will also be given education on sexual rehabilitation, genetic links, and proper diet for future care. Additionally, the Hospital will also provide them with pelvic floor physiotherapy.

About Reliance Foundation

Reliance Foundation is the philanthropic arm of Reliance Industries. Founded in 2010 by Mukesh Ambani, it is one of the largest private foundations. The Foundation aims to achieve sustainable growth in the sectors of education, health, rural transformation, urban renewal, and arts, culture, and heritage.

Under the leadership of its Chairperson, Nita Ambani, Reliance Foundation has touched the lives of more than 4 million people in 5,500 cities, towns and villages across India. Through the Hospital, the Foundation aims to provide world-class care and services to its patients.

Reliance Foundation embraces technology to understand the ever-changing needs and offer solutions. At a recent event, Mukesh Ambani said that India is on the cusp of a digital revolution, indicating the Reliance Family’s focus on digitization.

Summary

A ‘Comprehensive Prostate Cancer Clinic’ was launched at the Sir H. N. Reliance Foundation Hospital and Research Centre to provide effective prevention and treatment to the patients.

Reliance Jio launches Wi-Fi Services at Tourist Locations in Himachal Pradesh

October 15, 2015

Reliance Jio Infocomm Limited, the telecom venture of Mukesh Ambani-led Reliance Industries, rolled out its 4G Wi-Fi services at three popular tourist destinations of Himachal Pradesh. Dharamshala and Mcleodganj are among the first hill stations of the state to get these digital services. The high-speed service, known as ‘Jionet’, was then launched at Manali as well.

Earlier, Mussoorie, of Uttarakhand, became the first hill station in India to receive the 4GWi-Fi service. Other places to enjoy such service are Bhubaneshwar, Lucknow, Ahmedabad, and Kolkata, among others.

Jionet service at Dharamshala and Mcleodganj

At Dharamshala and Mcleodganj, the services were unveiled by Sudhir Mishra, Minister of Urban Development and Town Planning in the Government of Himachal Pradesh. The services will cover areas like MacleoChowk and Temple road, in Mcleodganj, and Kotwali, in Dharamshala.

The State government of Himachal Pradesh hasplanned to convert Dharamshala into a ‘Smart City.’ The Jionet service became one of their initial steps towards this initiative.

A spokesperson of Reliance Jio said that high-speed internet would lay the foundation of the cities’ and nation’s prosperity. By providing Jionet services in the famous tourist destinations of Dharamshala and Mcleodganj, Reliance Jio wants people to “experience high-speed internet and rich digital content, through specially designed apps to enrich their lives,” he added.

Wi-Fi service for the people

Through this service, people and visitors of Dharamshala and Mcleodganj will enjoy high-speed wireless internet services on devices like smartphones, laptops and tablets.

Anyone in the vicinity of Jionet Wi-Fi Access Points will be able to enjoy the service. The user simply needs to connect his handheld devices with the Jio Wi-Fi hotspot. Users will have to register on the service by entering their names and phone numbers. Each user will then receive a One-Time Password (OTP), which will have a validity of 24 hours. On entering the OTP, the user will be able to enjoy the service for 30 minutes, after which he will once again have to enter the same OTP.

Reliance Jio will collect feedback from the users, which it will use to refine its service. The company wants to be fully prepared so that it can deliver flawless services at the time of its commercial launch in December. After 4G Long Term Evolution (LTE) services start, Wi-Fi and LTE will work together, smoothly.

Wi-Fi service at Manali

Tourists visiting Manali will also be able to enjoy the free Wi-Fi service, even after trial project, which was meant to last a month. Reliance Jio partnered with Manali Municipal Council to set up Wi-Fi hotspots at select locations in the town. Jionet services will be offered at areas of Mall Road, Hamirpur and Kullu.

Vice-President of Manali Municipal Council, Chaman Kapoor expressed his delight over this. He stated that the service would commence following its inauguration by the local sub-divisional magistrate. The council will also conduct a program in the presence of technicians from Reliance Jio, at Mall Road to teach the people how to use the high-speed internet service.

Summary

Reliance Jio Infocomm Limited rolled out its free high-speed 4G Wi-Fi Jionet service at Dharamshala, Mcleodganj and Manali in Himachal Pradesh.

Reliance Jio to offer MiFi Devices

October 5, 2015

The telecom arm of Mukesh Ambani-led Reliance Industries,Reliance Jio Infocomm, is preparing to roll out its fourth-generation (4G) services towards the end of 2015. The company will also be offering portable devices known as MiFi or mobile Wi-Fi.

Reliance Jio’s MiFi devices

MiFi devices will act as hotspots and enable 4G non-compatible devices to enjoy the speeds of 4G. Reliance Jio will provide the devices at low rates. Besides, it will also be selling 4G-enabled handsets at affordable prices. It is already in talks with a number of mobile phone manufacturers for the same and has also given an order to Intex Technologies for the supply of 1 lakh 4G-enabled mobile phones. Reliance Jio is taking these steps to attract heavy data users and subscribers from rival companies.

MiFi devices will play a significant role in Reliance Jio’s plan of building a high-speed 4G ecosystem, even without 4G-enabled or Long Term Evolution (LTE) handsets. Buying new handsets will require users to invest more, which is precisely why experts believe that Reliance Jio will heavily promote the LTE hotspot devices to expand its market. Additionally, the company may also give bundled offers to enhance the penetration of LTE handsets.

Currently, most mobile data users do not have 4G-enabled handsets despite the fact that the rates of such phones have fallen as low as INR 5000. A single MiFi device connects 10 devices at a time. Its market price is nearly INR 3000. Sandip Agarwal, a telecom analyst at Edelweiss Securities predicts that Reliance Jio will halve the price and may offer these devices at around INR 1,500, as a part of its market strategy.

4G services are high-speed data services that enable users to download music videos or movies in a matter of minutes. Speeds offered through 4G services are much higher as compared to the popular third-generation (3G) services. Many telecom operators in the country are relying on the demand for high-speed networks to boost their profits.

Views of analysts

Analysts suggested that the data volume of Bharti Airtel will increase 11.3 times from the Financial Year (FY) 2014 – 2015 to FY 2019 – 2020 with a compounded annual growth rate of 65.1%, while that of Idea Cellular will increase 12.2 times in the same period, with a compounded annual growth rate of 62.3%. Currently, heavy data users are subscribers of Bharti Airtel, Idea Cellular and Vodafone. Experts predict that the entry of Reliance Jio will heavily impact the business of many major telecom operators.

Agarwal said, “Of course it (Reliance Jio) will target a high incremental market share gain by helping to create a viable ecosystem of low-end LTE phones.”He estimated that by the end of FY 2015 – 2016, Bharti Airtel, Idea Cellular and Vodafone’s 3G subscriber base will touch 83 million users. “Reliance Jio will specifically target this segment and may subsidise MiFi devices to ensure attractive value proposition for customers. By 2019 – 2020, Reliance Jio will target shifting 25% of incumbents’ 3G data subscriber base to its network,” he added.

Summary

Reliance Jio will be offering portable MiFi devices to enable non-4G compatible devices run at the speeds of 4G.