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Friday, 30 December 2011

Ambanis spark reunion talk

Ambanis spark reunion talk
Posted by MydeaMedia

Even as the sleepy town of Chorwad in the Saurashtra region came alive as the Ambani brothers arrived to take part in Dhirubhai Ambani's birth anniversary function, investors are seeing it as a positive sign.

However, neither the Mukesh Ambani camp nor the Anil Ambani camp gave any indication that the reunion had anything to do with business. But that they came together in Chorwad, their father's birthplace, after 15 years, was good enough to make news.
The 80th birth anniversary functions held on December 27-28, also saw the presence of their mother Kokilaben, sisters Dipti Salgaonkar, Neena Kothari and all their families.

The media was kept at bay and no interviews were given, as the brothers took part in religious rituals. A memorial housing a museum at Dhirubhai Ambani's ancestral house—Dhirubhai No Delo—was inaugurated by guru Ramesh Oza. The museum on the late Ambani's life will be thrown open to the public.

Family members took part in dandiya and when Kokilaben came a day ahead of the brothers, she said, “Hum saath saath hai” (We are together).

Said chairman of Ahmedabad Stock Exchange Limited, Hemant Jhala: “The event will make a definite difference to the businesses of the brothers and investors.” He did not rule out the possibility of the companies merging and said beginnings are made by such gatherings.

Opined former vice president of Vadodara Stock Exchange, Umesh Patel: “There is a clear-cut message to investors that there is no corporate war between the brothers. By separating, the brothers have seen the reality and learnt a lesson that they stand to gain if they are united.” Shares of their companies would stabilise now, he added.

An investor from Central Gujarat, Narendra Patel, 34, was happy when he heard about the reunion at Chorwad. Notwithstanding the Sensex going southwards, he is keen to buy shares of Mukesh and Anil Ambani's companies.

But there are many investors who feel not much should be read between the lines. “This is just a family reunion. It has nothing to do with business,” said an investor associated with a political party.

The massive Reliance empire was split into two by the warring brothers after Dhirubhai Ambani's demise. Only time will tell if the brothers, who landed in different choppers, will go their separate ways or reunite in business. But the event has certainly sent a signal of hope.

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