Ambani brothers reach Chorwad; ADAG stocks are loving this reunion

Rajkot: For the first time in several years, the two estranged brothers Mukesh and Anil Ambani will be seen together as they reach Chorwad for their their father’s 80th birth anniversary .

Mother of Mukesh and Anil Ambani, Kokilaben on Monday said that both the brothers do not have any differences between them and that they are together now.

Shares of six Reliance Anil Dhirubhai Ambani group companies rose by 1.29 percent to 7.89 percent at 10:00 IST on BSE today after Kokilaben hinted her sons Mukesh and Anil Ambani may be getting closer again.

[caption id=“attachment_167097” align=“alignleft” width=“380” caption=“The Ambani brothers, Mukesh and Anil, in their home town of Chorwad in Gujarat. PTI”]  [/caption]

Reliance Broadcast Network is up 7.89 percent, Reliance Communications is up 4.32 percent, Reliance MediaWorks is up 3.44 percent, Reliance Capital is up 3.17 percent), Reliance Infrastructure is up 3.01 percent and Reliance Power edged higher by 1.29 percent.

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Reports suggested that both brothers have realised that others have been benefiting more from their fight. Even though a merger between the two groups seems unlikely at this juncture, it is likely that they may tie up for sharing services and resources to create a common eco-system to benefit all.

Kokilaben spoke to reporters in their home town of Dhirubhai Ambani Chorwad of Junagadh district, where both the brothers are expected to come for the opening of a memorial of their late industrialist father on his 80th birth anniversary on December 28.

“There are no differences or ill-feelings between Mukesh and Anil, both the brothers will come to Chorwad with their families tomorrow,” Kokilaben said in response to a question on the reported differences between both the two.

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“This is our family function and entire family will be present at the function,” She said. Kokilaben arrived this evening for the two day function on December 27 and 28.

After the death of Dhirubhai Ambani in July 2002, both the brothers had made allegations against each other. In 2006, a formal split took place, with Mukesh taking control of flagship Reliance Industries,with interests in petrochemicals, oil and gas exploration, refining and textiles, while the Anil Dhirubhai Ambani Group took control of the telecom, power,

entertainment and financial services.

“It will perhaps be for the first time in the recent past that the Ambani brothers will be seen together in a family reunion, which is taking place at the temple of goddess Chorwadi,” RIL Group President Piramal Nathwani said.

A day later, guru Rameshbhai Oza will formally inaugurate the memorial in the presence of Kokilaben, her two sons and daughters- Dipti Salgaonkar and Neena Kothari, among others, he said.

The Dhirubhai Ambani Memorial is at the same place, where the industrialist spent his childhood. A rented section of the bungalow, then called ‘Mangarolwalo Delo’ was the place where he lived. Dhirubhai had purchased the bungalow in 2002, which is now renamed as ‘Dhirubhaino Delo’.

In an attempt to keep her husband’s memories alive, Kokilaben has founded the memorial. The monument has three sections– a pictorial gallery, the old residence of Dhirubhai and an auditorium. The sepia gallery depicts Dhirubhai’s journey through pictures; while his old dwelling is arranged the way it was and the auditorium is for screening a short film on his distinguished life.

PTI