Reliance Careers Link - 2016 January

Company Name: Reliance

Company Website: www.rcom.co.in

Company Profile:

Reliance Industries Limited is an Indian conglomerate holding company headquartered in Mumbai, Maharashtra, India. Reliance owns businesses across India engaged in energy, petrochemicals, textiles, natural resources, retail and telecommunications. Reliance is the most profitable company in India, the second-largest publicly traded company in India by market capitalization and the second largest company in India as measured by revenue after the government-controlled Indian Oil Corporation.

The company is ranked 114th on the Fortune Global 500 list of the world's biggest corporations, as of 2014. RIL contributes approximately 20% of India's total exports.The company was co-founded by Dhirubhai Ambani and his brother Champaklal Damani in 1960s as Reliance Commercial Corporation. In 1965, the partnership was ended and Dhirubhai continued the polyester business of the firm. In 1966, Reliance Textiles Industries Pvt Ltd was incorporated in Maharashtra. It established a synthetic fabrics mill in the same year at Naroda in Gujarat.

In 1975, the company expanded its business into textiles, with "Vimal" becoming its major brand in later years. The company held its Initial public offering (IPO) in 1977. The issue was over-subscribed by seven times. In 1979, a textiles company Sidhpur Mills was amalgamated with the company. In 1980, the company expanded its polyster yarn business by setting up a Polyester Filament Yarn Plant in Raigad, Maharashtra with financial and technical collaboration with E. I. du Pont de Nemours & Co., US.

In 1985, the name of the company was changed from Reliance Textiles Industries Ltd. to Reliance Industries Ltd. During the years 1985 to 1992, the company expanded its installed capacity for producing polyster yarn by over 145,000 tonnes per annum. The Hazira petrochemical plant was commissioned in 1991–92. In 1993, Reliance turned to the overseas capital markets for funds through a global depositary issue of Reliance Petroleum.

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