Reliance Industries limited to announce Q2 results today - Names Ambani Kids to Retail, Telecoms Unit Boards


Reliance Industries Ltd has announced that a meeting of the Board of Directors of the Company will be held on October 13, 2014, to consider and approve the unaudited financial results of the Company for the quarter/ half year ended September 30, 2014 (Q2).
Reliance Industries limited to announce Q2 results today - Names Ambani Kids to Retail, Telecoms Unit Boards

Pursuant to this, the Company has decided that the close period (i.e. closure of trading window) for Insiders covered under "Reliance Code of Conduct for Prohibition of Insider Trading would commence from 6:00 p.m. on October 01, 2014 and will end 24 hours after the results are made public on October 13, 2014.

Energy conglomerate Reliance Industries Ltd said two of chairman Mukesh Ambani's children had been appointed to the boards of the company's telecoms and retail businesses.

The appointment of twins Isha and Akash Ambani was approved by the boards of Reliance Jio Infocomm and Reliance Retail Ventures Ltd on Saturday, the company said in a statement.

Reliance, controlled by the country's richest man, operates the world's biggest refinery complex and is India's third most valuable company with a market valuation of about $51 billion.

It has been expanding into consumer-focused services like retail and telecommunications and is in the middle of its largest ever capital investment plan - a three-year, $30 billion investment cycle ending March 2016.

The company's retail unit has turned around after seven years of losses and is now the biggest retail chain in the country, while the 4G telecoms venture, Reliance Jio, is expected to launch commercial services next year.

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