Vijay Mallya may sell RCB stake to escape debt trap

July 10, 2012

vijay-mallya

Bangalore, July 10: After the financial turbulence at Kingfisher Airlines, Chairman Vijay Mallya's United Spirits is looking at reducing its debt and bringing back the good times. It may even sell its stake in its Indian Premier League (IPL) team Royal Challenges Bangalore (RCB).


Vijay Mallya's acquisition of the brand White & Mackay helped United Spirits reach the top of the global pyramid, but it came at a cost. Its debt has surpassed Rs 7,000 crore and the company is looking at monetising its non core assets to bring this down to manageable levels.


When the price is right, these assets could well include treasury stocks, a stake in United Breweries, and even a stake in its cricket franchise Royal Challengers Bangalore - all worth between Rs 1,500 and Rs 2,000 crore.


Ashok Capoor, President & MD, USL, said, "We have non core assets we can monetise anytime - treasury stocks, UBL stocks, Royal Challengers. But we will not do any selling at this stage. We will only sell when the price and timing are right to bring our debt down in the future.


That's not all. After touching 120 million cases in volume sales last fiscal, USL is now shifting focus to margins. So the sales target 200 million cases by FY 16 is taking a back seat. USL will drive brands that will contribute to revenues, even if they don't add to the volumes initially.


Ashok Capoor said, "We are chasing value, brands that are more premium and the trend is also towards premiumisation, so with that agenda I don't think we will do 200 million cases by FY 16. It will be less than that."


The company is also hoping that input costs will stabilise this year, making its job much easier.


In 2011, the prices of key input elements, extra neutral alcohol or ena and glass, rose significantly, forcing USL to opt for an aggressive, higher-than-usual, 3.5 per cent price hike. But USL says both ena prices and glass availability are improving this year and as they say - every drop counts.



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Agencies
April 12,2020

London, Apr 12: Former Formula 1 legendary driver Stirling Moss died at the age of 90 on Sunday.

"All at F1 send our heartfelt condolences to Lady Susie and Sir Stirling's family and friends," Formula 1 said in a statement.

Often referred to as the greatest driver never to win the world championship, Moss contested 66 Grands Prix from 1951 to 1961, driving for the likes of Vanwall, Maserati and Mercedes, where he famously formed a contented and ruthlessly effective partnership with lead driver Juan Manuel Fangio.

In his 10-year-long stint at the tracks, Moss took 16 wins, some of which rank among the truly iconic drives in the sport's history - his 1961 victories in Monaco and Germany in particular often held up as all-time classics.

Moss won the 1955 Mille Miglia on public roads for Mercedes at an average speed of close to 100mph, while he also competed in rallies and land-speed attempts.

Following an enforced retirement from racing (barring a brief comeback in saloon cars in the 1980s) after a major crash at Goodwood in 1962, Moss maintained a presence in Formula 1 as both a sports correspondent and an interested observer, before retiring from public life in January of 2018.

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News Network
January 10,2020

New Delhi, Jan 10: Injured Assam archer Shivangini Gohain underwent a critical surgery at the AIIMS. Dr. Deepak Gupta, professor of Pediatric neurosurgery at AIIMS, revealed about the delicate nature of the procedure and said there was no room for error.

"It was touching vertebral artery which supplies blood to the brain stem. The arrow was 0.5 cm in front of the spinal cord and the child could have become quadriplegic if someone tried to pull it out," Gupta said.

According to doctors, the arrow accidentally went inside the body damaging the shoulder bone, part of the neck, spinal cord and left lung.

Dr Gupta said, "Now the patient is fine. We had planned the surgery in a very unique way. Last whole night, our team was doing the planning and plotting to conduct this complex surgery. About 15 cm part of the arrow was inside the body which has entered through shoulder bone and affected neck, spinal cord and left lung".

"We started the surgery in the morning at 6 am which lasted for three and a half hours. We have successfully removed the arrow. The patient is stable now and shifted to ICU for observation," he added

Shivangini Gohain, the 12-year-old Assam archer who was impaled by an arrow shot accidentally at the SAI centre in Dibrugarh, was training unsupervised and the mishap was a result of negligence by the local coach and officials, the state's archery association has said.

The child was training at the Dakha Devi Rasiwasia College at Chabua, which serves as an extension centre under the Sports Authority of India (SAI) Regional Centre in Guwahati when the incident took place on Wednesday.

She was airlifted to Delhi on Thursday night and admitted to the AIIMS Trauma Centre. Pulin Das, a joint secretary of Assam Archery Association and executive member of the state Olympic association said the injury to the school girl from the Deodhai village, which is 3km from Chabua, happened as the trainees were practising without any coach and other officials.

“There is a SAI contractual coach Marcy and he has left for the Khelo India Games in Guwahati. He didn't instruct the trainees to stop the camp for some time nor did the college principal, who acted as administrator of the extension centre, looked after the practice,” Das said on Friday.

The extension centre has 11 trainees, six boys and five girls, and they were training under SAI contractual coach A C Marcy from Nagaland, who is in Guwahati for the Khelo India Youth Games.

“The training ground itself is in very bad shape, it was not even a dedicated ground for archery training, some play football, cricket and other sports on that ground. But the worst part is that the SAI coach did not give instructions to stop the camp for a while and the archers were training without any supervision,” he added Das said Gohain was struck by an arrow shot by boys doing practice for compound event. The arrow remained stuck for more more than a day before she was airlifted to New Delhi on Thursday night.

“There was nobody to look after the archers, they were training on their own though their parents were outside the ground. An arrow shot by a boy trainee who was doing compound event practice hit her on the shoulder,” the official said.

Gohain's father Brinchi Gohain was outside the practice area and with no official of the college and SAI coming for help, she was taken to Assam Medical College in Dibrugarh, 33km from Chabua.

“She could reach the AMC in Dribugarh only on Thursday morning. There, the doctors told her parents to take her to a more reputed hospital like AIIMS in Delhi. With help from people close to the local Member of Parliament and Assam CM himself, she was taken by air ambulance to Delhi.

“I was told that she had a very tough time as the arrow remained stuck for more than a day. She is a strong-willed girl and she fought. Her father must be a daily wage labourer and he was distraught also.”

The SAI said that it will bear all the expenses of her treatment. The Assam Archery Association has contributed Rs 20,000 towards her treatment.

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Agencies
August 2,2020

New Delhi, Aug 2: Batting great Rahul Dravid has attributed Chennai Super Kings' consistent run in the IPL to skipper Mahendra Singh Dhoni's instincts, game-smarts and the incredible amount of work that goes behind the scenes.

N Srinivasan, the former BCCI president and head of India Cements, which owns the CSK franchise, agreed that Dhoni is a man of instinct who doesn't believe in attending team meetings and going over data.

Both were speaking at a webinar organised by the Great Lakes Institute of Management.

"If you look at the success CSK has had, they've got really good access to data and they've got really good access to people behind the scenes and they've run cricket teams at the junior level," Dravid said at the webinar according to ESPNcricinfo.

The former India captain added, "They understand talent and they've obviously got a good scouting process in place. But, what they also have is a captain who really understands instincts.

"So, I mean, look, I know Dhoni quite well and I hope he hasn't changed, but I know Dhoni is probably not one to look at reams of data and statistics."

The Super Kings have won the lucrative tournament three times -- one less than Mumbai Indians -- and reached the knockouts in each of the 10 seasons they have been a part of.

Srinivasan also spoke about how Dhoni's instinct and judgement contributed to his team's success at a time when a lot of emphases is placed on data.

"We're awash with data just now. To give you an example, there are bowling coaches and in a T20 game, they play videos of every batsman whom they're going to come against and they see how he got out, what's his strength, what's his weakness etc.

"So, MS Dhoni doesn't attend this, he's a pure instinct man. The bowling coach, (head coach Stephen) Fleming will be there and everybody will be there, everyone is giving opinions, (but) he'll get up and go.

"In the context of instinct, he feels that okay he can assess a batsman or player on the field, that's his judgement. On the other hand, there is so much of data that is available to help a person also analyse. It's a very difficult line to draw (between data and instinct)."

Srinivasan also recalled how Dhoni once refused to take "one outstanding player" suggested by the franchise boss as that could have broken the team's cohesion.

"There was one outstanding player that we suggested to MS, he said: 'no sir, he will spoil the team'. The cohesion within the team is important and see in America, franchise-based sport has been there for such a long time," he said.

"In India, we're just starting and we're new to it. But we at India Cements have had a lot of experience running teams at junior levels."

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