The Anmol Effect
The Anmol Effect: Appointment of Anil Ambani’s elder son Anmol Ambani as the Executive Director in the company’s board has already aided in increasing the stock rates, and the chairman calls this effect as ‘Anmol Effect’.
Reliance Capital board’s Chairman Anil Ambani on Tuesday introduced to all the new director of the board, his son Anmol Ambani. Anil Ambani says that his son has brought overwhelming luck with a 40 per cent surge in share price since Anmol’s induction and calls this luck as ‘Anmol Effect’ and hopes that it continues further.
The company had its Annual General Meeting and Anil Ambani took a moment to thank all his company’s shareholders for placing their vote of confidence in the young and smart 24-year-old Anmol Ambani in his appointment as the Executive Director of the board. He also said that he sees in Anmol a part of the younger demography who will be able to relate to the future customers, shareholders, employees as well as the other stakeholders of Reliance Capital. It is a noted fact that half of India’s population is under the age of 30 years, therefore according to the Chairman the average age of Reliance Capital employees is 34 years. Therefore, with the good performance of his son he hopes that this ‘Anmol Effect’ continues to improve performance, growth and teamwork.
Anmol Ambani has a degree from Warwick Business School in the United Kingdom. He joined the board of Reliance Capital as an additional director first just a month ago on August 23, after he trained at the same. Now, he is appointed by popular choice as the Executive Director. After his appointment as the new Executive Director on Tuesday, Reliance Capital’s Stock was trading 1 per cent higher than it was before his appointment. The surge increased the stock from Rs. 467 to Rs. 575 a piece. The sharp rally in the past one month has indeed helped the stock ascend by a huge 70 per cent in the past one year, which is in fact much higher than the rise in the benchmark market indices.
On Anmol’s induction in the company, Anil Ambani commented, “I hope Anmol will receive your support and blessings, along with my father’s and my mother’s. He is beneficiary of an extremely loving and value-based upbringing by his mother, Tina Ambani.”
Besides the Chairman himself, Anmol is the only other member from the family to be a part of the financial services of the Reliance Group. He has been actively engaged in internal business reviews across companies and has also been a part of interactions with Nippon Life for growing stake in Reliance Life Insurance and Reliance Capital Asset Management in the last two years.
It is very agreeable to see such young talent contributing already so much at such tender age. We do hope that this ‘Anmol Effect’ brings more prosperity to the Reliance Group and to the country as well.