i Develop Stocks Advisory

Reliance Energy to be renamed Reliance Infrastructure Anil Ambani Group firm Reliance Energy said on Monday it will change its name to Reliance Infrastructure, which will reflect the company's businesses more adequately. "The new name reflects the branding philosophy followed by the ADA Group, where name signifies the space in which business operates and create a sharper brand presence among the stakeholders. The name change will not affect any of the rights of the company or the shareholders of the company," a senior company official said. The new name 'Reliance Infrastructure Ltd' will adequately reflect the current nature of businesses in the company fold and will be in line with the company's vision to tap and play a vital role in the emerging potential in the country for infrastructure development, the official added. The board of directors has decided to change the name of the company, subject to the shareholders approval and compliance with related formalities, a company statement said. REL is constructing the country's tallest 100-storey corporate park in Hyderabad and has plans for setting SEZs in Noida and Mumbai. It is in advanced stages of bidding for several metro, airports, highway and energy distribution projects across the country, the statement added.