Mumbai - Reliance Infrastructure has signed an agreement with US-based Innovari on expanding Automated Demand Side Management (ADSM).
The MoU, inked during US President Barack Obama's visit to India, will reduce power purchase for Reliance Infrastructure and ensure reduction in carbon footprints for consumers, Reliance Infrastructure said in a BSE filing.
"This further extends the existing strong business relationship between Reliance Group and companies from the United States such as Caterpillar, Bucyrus, Atlas Copco, Forst Solar, etc in areas of solar power, power generation equipment, LNG imports, coal mining, and entertainment," Group President, Corporate Affairs, A Sethuraman said.
New Delhi - Reliance Infrastructure, part of Anil Ambani-led Reliance Group Monday appointed M S Mehta as the Chief Executive Officer (CEO) of the company.
He will take over from Lalit Jalan, who held the portfolio for the past more than seven years, Reliance Infrastructure said in a statement.
Mehta was till recently the Group CEO of Vedanta Resources for five years.
He is a Mechanical Engineer, and an MBA from the Indian Institute of Management, Ahmedabad.
The company also elevated Lalit Jalan as Director - Corporate Strategy and Affairs with effect from Monday. (PTI)
Mumbai, May 19 : Reliance Infrastructure (RInfra) Monday announced its financial results for the year ended March 31, 2014, with a net profit of Rs. 1,914 crore ($319 million), an increase over the corresponding previous year's Rs. 1,872 crore.
The total income for financial year 2014 was Rs. 20,274 (&3.4 billion), against Rs. 23,433 crore in the previous financial year when there was exceptional item of Rs. 379 crore pertaining to sale of RPower shares through Offer For Sale mechanism.
Mumbai, Nov 18 : A 331-km long 400 KV Double Circuit Transmission Line has been commissioned by Reliance Infrastructure Ltd. (RInfra) which will connect key industrial regions of Pune, Aurangabad and Beed, an official said here Monday.
Implemented through RInfra subsidiary Reliance Power Transmission Ltd., the project is part of the Western Region System Strengthening Scheme II (WRSS) in the state, said RInfra CEO Lalit Jalan.
This is the country's first ever fully privately owned inter-state transmission project of the National Grid.
Mumbai, Nov 11 : Reliance Infrastructure (RInfra) Monday reported a 12 percent rise in consolidated net profit at Rs. 427 crore for the second quarter ended September over a profit of Rs. 382 crore in the corresponding quarter of the previous year.
The company's total income fell to Rs. 5,273 crore from Rs. 5,798 crore in the corresponding period of the last fiscal.
RInfra's income from operations in the quarter decreased to Rs. 2,831.80 crore from Rs. 3,500.22 crore in the corresponding period of last year.
The company said it earned revenues of Rs. 159 crore from its road projects
Mumbai, Sep 2 : Reliance Infrastructure, part of the Reliance Group headed by Anil Ambani, Monday announced the completion of 136 km road connecting Salem and Ulundurpet in Tamil Nadu at an outlay of Rs. 1,061 crore.
The company in a statement issued here said the road project on build-operate-tranfer (BOT) basis was completed by its special purpose vehicle, SU Toll Road Pvt. Ltd., and collection of toll in three plazas has begun.
The company has been awarded the contract to operate and maintain the road for a concession period of 25 years.
Mumbai, Aug 27 : All projects of integrated infrastructure and power company Reliance Infrastructure (RInfra) will be operational within the 2014 financial year, the company announced Tuesday.
In a release issued after RInfra's 84th annual general meeting here, the company also announced its "competitive tariff to ensure major flow of consumers back to RInfra".
Declaring that company revenues were up by 80 percent during the quarter, the statement said that the Mumbai Metro being constructed by it will be operational this year.
Mumbai, Aug 23 : Integrated infrastructure and power company Reliance Infrastructure (RInfra) Friday said the Maharashtra Electricity Regulatory Commission (MERC) has allowed it to recover arrears and carrying costs aggregating to Rs. 5,550 crore over the next six years.
According to the company, the MERC order dated Aug 22, 2013, allows it to recover past arrears, along with 14.5 percent per annum of carrying cost which comes to about Rs. 925 crore per year, aggregating to Rs. 5,550 crore over the next six years.
Mumbai, July 30 : Reliance Infrastructure (RInfra) Tuesday announced current fiscal first quarter net profit at Rs. 415 crore ($70 million) over the Rs. 412 crore in the corresponding quarter of the previous year -- less than a percent growth.
During the quarter ended June 30, the company had a total operating income of Rs. 5,452 crore ($918 million), against Rs. 5,383 crore in the corresponding quarter of the previous year.
Jaipur, July 23 : Reliance Infrastructure Limited (RInfra), part of the Reliance Group, through its Special Purpose Vehicle (SPV) JR Toll Road Pvt. Ltd., on Tuesday announced the completion of its Rs. 556-crore road project from Jaipur to Reengus (JR) in Rajasthan. Toll collection has started on the four-laned 52-km road.
The project has been executed on a DBFOT (Design, Build, Finance, Operate and Transfer) basis under the aegis of the National Highways Authority of India. RInfra has been awarded the contract for a concession period of 18 years.
New Delhi, July 1 : Reliance Infrastructure Monday said it has exited the 23-km airport Metro operation and the takeover of its operations by Delhi Metro Rail Corp (DMRC) has been completed.
"Delhi Airport Metro Express, a special purpose vehicle of Reliance Infrastructure, had terminated the concession agreement with the DMRC for the Delhi airport Metro line nearly nine months back, in a notice issued in October 2012," the company said.
Reliance Infrastructure has said on Tuesday that its net profit has risen by an impressive 76 per cent to Rs. 726.12 crore during the quarter till March 31, 2013.
The company had recorded a net profit of Rs. 411.46 crore during the same period of the previous financial year, it said in a statement. The company's total operating income stood at Rs 6,187 crore during the quarter from January to March 2013 compared to Rs 7,135 crore in the same quarter of the previous financial year.
Delhi Metro Rail Corporation (DMRC) and the concessionaire of Delhi Airport Metro Express, Reliance Infra have decided to go in for arbitration over their disagreements following detection of cracks in the line that resulted in the closure of the line in July.
The sudden, steep increase in toll charges on the Delhi-Agra highway by concessionaire Reliance Infrastructure (R-Infra) has attracted tough objections from transport lobbies.
R-Infra will soon widen the 165-kilometer Delhi-Agra stretch from four lanes to six, at an estimated cost of around Rs 2,945 crore, which includes renovation of 2 over passes, 14 vehicular underpasses, and 16 flyovers.
Indian Stock Market closed at five month high on Monday. The BSE Sensex remained flat during most of the trading session but inched up in the last one hour of trade. BSE Sensex closed 75 points higher at 17633 and NSE Nifty closed at 5347, registering a gain of 27 points.
Indian Stock Markets were trading lower on Friday with BSE Sensex down by 25 points at 17536. US markets closed flat on Thursday and Asian Markets were lower on Friday.
Amit Kasat of Standard Chartered Securities has downgraded Tata Motors after the company declared lower than expected first quarter results. The company's JLR unit would face lower sales and this will have an impact on Tata Motor's profits in upcoming quarters. Amit Kasat has suggested investors to exit Tata Motors on every rally.
Reliance Infrastructure, which is the concessionaire for the Airport Metro Express Line of the Delhi metro in the national capital, has accused the Delhi Metro Rail Corporation (DMRC) of forcing it to use faulty chips in the underground section.
Anil Ambani-led Reliance Infrastructure is looking at several road and construction projects, which are under various stages of development in the country, in order to boost its portfolio.
RInfra is holding discussions with several players who are unable to execute projects they started due to lack of funds of other constrains, for taking over the project. Lalit Jalan, chief executive officer, RInfra has said that the company is looking to acquire secondary assets, mainly in the build-own-operate (BOT) space.
Bombay Stock Exchange is reported to have finally decided to remove mobile operator Reliance Communications and power utility Reliance Infrastructure, controlled by billionaire Anil Ambani, from the benchmark index.
Also, the companies were said to be the two worst Sensex performers, as Reliance Communications was down this year by 35% and Power Utility Reliance Infrastructure by 32%, with the main index dropping by 12%.
Recently, an investigation has been completed by Securities and Exchange Board of India (SEBI) and it has expelled business tycoon Anil Ambani and four top officers of his group from investing in the secondary market.
They have been disqualified to do any investment till the end of the 2011. The two Anil Dhirubhai Ambani Group (ADAG) companies, Reliance Infrastructure (R-Infra) and Reliance Natural Resources Ltd (RNRL) have been suspected for unfair market business by SEBI. They have been banned for investing in the secondary market till 2012. In addition to that, SEBI has charged a fine of Rs 50 crore from both the companies.