Reliance Industries to debut in e-commerce business by year-end

Reliance Industries to debut in e-commerce business

Reliance Industries plans for the enterprise into grocery e-commerce delivering fruits and leafy foods in Mumbai by taking up with a city-based basic need venture by the year-end, according to a leading daily.

The organization proposes to offer a bigger mixture of merchandise as contrasted with the current online retailers. Throughout the later half of the year, Reliance will likewise offer shopper gadgets on the web, the paper states.

Nita M Ambani joins RIL Board

Chairperson of Reliance foundation Nita Ambani joined as a Director on the board of Reliance Industries Ltd.The shareholders of Reliance Industries approved her appointment at the company Annual General Meeting held in Mumbai on Wednesday. Welcoming Nita Ambani on behalf of Board,her husband and RIL chairman Mukesh Ambani said:”Nita Ambani has been engaged in several initiatives that have strengthened Reliance, right from building the world-class township and ecological development at Jamnagar, next generation office campuses, designing customer touch points of Reliance Retail, healthcare initiatives, successfully setting up and running institutions such as Dhirubhai Ambani International School and (IPL) Mumbai Indians to, most importantly, managing Reliance Foundation.”

Reliance Industries have raised Its Funds

Reliance Industries (RIL), India’s biggest company has raised its funds up to Rs. 10,000 crore . RIL has sought  shareholder nod to raise funds through non-convertible debenture in one or more tranches. On 18^th  June the  company has scheduled a meeting with its shareholders to vote an issue. In an annual report of RIL, ” the Company  offers subscription for secured/unsecured, redeemable and non-convertible debentures, tranches on private placement,  issuable at par.”

Nita Ambani is set to join the board of Reliance Industries.

Nita Ambani, wife of Reliance Industries chairman Mukesh Ambani, is set to join the board of India’s largest private company, it was announced on Friday.

Nita is the chairperson of Reliance Foundation and serves as a director on the board of RIL. She has been nominated to the board in place of Ramnik H. Ambani, who is retiring at the age of 90 years.

RIL and its partners sent notice to Central Govt.

 

Since April 2011 Reliance Industries (RIL) gained 4.2% to its highest. Shares in Reliance sent the benchmark BSE index and NSE index to record highs. The three companies RIL (RELI.NS), BP (BP.L) and Niko resources (NKO.TO) issued the arbitration notice of the central government to secure the market price of gas as per the production sharing contract (PSC). 

ONGC & RIL on gas dispute

State-owned Oil and Natural Gas Corp (ONGC) and Reliance Industries will appointed a common international expert to resolve the dispute over their Krishna Godavari basin gas fields being inter-connected.

ONGC says at least three wells drilled by RIL on the boundary of KG-D6 block in Bay of Bengal are within “few hundred meters” of its gas fields.