Reliance makes fourth oil discovery at Cambay Basin - Moneycontrol.com -

Reliance makes fourth oil discovery at Cambay Basin - Moneycontrol.com -: "Reliance Industries has made its fourth oil discovery at Cambay Basin. India's largest private sector oil refiner struck gold in exploratory block CB-ONN-2003/1, which was awarded under the New Exploration Licensing Policy (NELP)-V round of exploration bidding. It is located at a distance of about 130 km from Ahmedabad."

At Reliance, it's all about the future Shikhar Balwani's This Week in India - MarketWatch

At Reliance, it's all about the future Shikhar Balwani's This Week in India - MarketWatch: "MUMBAI (MarketWatch) -- One wonders what would have disappointed Indian billionaire Mukesh Ambani more: a quarterly performance at Reliance Industries Ltd. (RIL) that missed market expectations Friday, or watching the Mumbai Indians -- the franchise he owns -- lose the finals of cricket's Indian Premier League on Sunday?"

Reliance Industries ltd (RIL)

Reliance Industries (RIL), established in 1966, is the flagship company of the Reliance group. The company started with textiles and thereafter backward vertical integrated in polyester, fiber intermediates, plastics, petrochemicals, petroleum refining and oil and gas exploration and production. RIL is a leading producer of polyester yarn and fiber producer and amongst the major producers of petrochemical products in the world. The company`s operations can be classified into three segments that of Petroleum Refining and Marketing business, Petrochemicals business and Others (including Crude Oil and Natural Gas Exploration & Production business) Presently, the company`s activities span exploration and production of oil and gas, petroleum refining and marketing, petrochemicals (polyester, fibre intermediates, plastics and chemicals), textiles and retail. Some of RIL`s group companies include Reliance Petroleum Limited (RPL), Reliance Retail Limited, Indian Petrochemicals Corporation Limited (IPCL) and Reliance Industrial Infrastructure Limited. RIL has manufacturing facilities at Naroda, Patalganga, Hazira and Jamnagar. Financials RIL registered 14.03% growth in net profits to Rs 28,530 million for the quarter ended March 2007 from a profit of Rs 25,020 million for the quarter ended in March 2006. Net sales for the quarter rose 5.51% to Rs 258,950 million for the quarter ended March 2007 from Rs 245,420 million for the quarter ended March 2006.Total income rose 5.49% to Rs 259,800 million for the quarter ended March 2007 from Rs 246,290 million for the quarter ended March 2006. The earnings per share (EPS) of the company stood at Rs 20.50 in the quarter ended March 2007.

Mukesh Ambani is the richest man in India

Reliance Industries Chairman Mukesh Ambani is the richest man in India with USD 32 billion in net worth followed by steel tycoon Lakshmi Mittal and younger brother Anil Ambani, according to the Forbes annual rich list for the country.

NRI steel baron Mittal has been ranked at the second position with a net worth of USD 30 billion, while Mukesh's sibling Anil Ambani, whose wealth stood at USD 17.5 billion was ranked third.

Wipro Chirman Azim Premji and Essar Group's Shashi & Ravi Ruia are ranked fourth and fifth with net worth of USD 14.9 billion and USD 13.6 billion, respectively.

The magazine said the combined fortune of India's 100 richest is USD 276 billion, almost one-fourth of the country's GDP.

Reliance Industries fixes Record Date for Issue of Bonus Shares

Reliance Industries Ltd has informed BSE that the Board of Directors of the Company has fixed November 27, 2009 as the 'Record Date' for determining the members of the Company who will be entitled to receive one fully paid bonus equity share for every one existing fully paid equity share of Rs. 10/- each of the Company as approved by the members of the Company at the 35th Annual General Meeting held on November 17, 2009 ('Bonus Shares').