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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News Network
July 22,2020

Derbyshire, Jul 22: Ahead of the upcoming Test series against England, Pakistan pacer Sohail Khan has credited bowling coach Waqar Younis for teaching him how to swing the ball late.

On the third day of the practice match between Azhar Ali's Team Green and Babar Azam's Team White, the 36-year-old Khan returned figures of five for 50 in 20.1 overs which saw the former fold for 181 in the first innings before they staged a comeback on the final day to win the match by six wickets.

Prior to the practice match, Sohail had a conversation with bowling coach Waqar Younis on the art of late swing. The pacer shared how the presence of the bowling legend in the support staff helped him gear up for the four-day match.

"The conditions in England are swing conducive so every fast bowler gets the ball to move. I asked Waqar bhai to teach me how to swing the ball late. It took him only two minutes to explain it to me. It is because of his tips that I took five wickets in the first innings," Khan said in a release issued by the Pakistan Cricket Board (PCB).

"I am eager to learn from Waqar Bhai. I follow him wherever he goes and speak to him about the art of bowling as he has an abundance of knowledge to share. A few days back I was struggling with something while bowling, I thought of reaching out to him and even before I spoke to him about it, he said he knew what I wanted to talk to him about and he explained it to me in a minute," he added.

During Pakistan's tour of England in 2016, Sohail played a crucial role in helping Pakistan secure a 2-2 Test series draw by returning two five-wicket hauls in as many matches.

In total, he picked up 13 wickets at 25 apiece and finished as the third-best wicket-taker.

"Definitely, it is an honour for me to return to the side. I had taken two fifers here against England in 2016 and now in the practice match, I have started off with five wickets so I am feeling very good. We had been at our homes for the past four months due to coronavirus so starting off on a high feels nice," Khan said.

Prior to Sohail's five wickets, 17-year-old Naseem Shah made a big impact when he took five wickets for Team Green. The strength of Pakistan's pace attack was further established as Mohammad Abbas and Shaheen Shah Afridi picked up three wickets each providing valuable support to Naseem and Sohail respectively.
Naseem and Shaheen finished the match with six and four wickets respectively.

Shedding light on the youngsters' performances, Sohail said: "It gives me immense pleasure to see Naseem Shah. He bowls consistently at 150kph. Just like him, Shaheen Shah Afridi is another good bowler. I like both of them."

"It gave me great happiness to see Naseem pick five wickets in the first innings. He is in rhythm and is looking great. What is astonishing is that he is playing in these conditions for the first time but still he is doing so well. Shaheen has also been phenomenal," he added.

Pakistan and England are slated to play three Tests and as many T20Is against each other. The first Test will be played at Manchester from August 5.

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News Network
May 14,2020

New Delhi, May 14: Mahendra Singh Dhoni is an unconventional and unique leader, whose biggest strength is his incredible gut feeling, says his Chennai Super Kings teammate Faf du Plessis.

The former South Africa skipper has spent considerable time with Dhoni after joining the Indian Premier League (IPL) side in 2011 and has been an integral part of its successful journey.

"He reads the others player really well and he uses that to make instinctive decisions on the field. He's got an incredible gut feeling on the game and I think that's his biggest strength," du Plessis said in a Facebook live session with Bangladesh ODI skipper Tamim Iqbal.

The 35-year-old said Dhoni changed his perception of how a captain should be.

"It was amazing for me to see how different M S was as a captain. I used to think a captain must speak all the time in team meetings etc but M S was completely different.

"He doesn't believe a lot in team meetings. He's a very instinctive captain he's got such a good cricket brain that he relies on it to make the right decisions on the field," du Plessis said of former India skipper.

Dhoni last played for India in World Cup semifinal last year and was expected to be back to playing competitive cricket at now-postponed IPL.

Calling Dhoni the best finisher he has played with, Du Plessis said no one can emulate what the dasher from Ranchi can do with the bat.

"He's extremely calm. I haven't played with someone who is a better finisher than him. It's just remarkable to watch him from the side of the field."

"If someone else tries to do it like him they won't be able to. He's just so unique like he times the ball so late he's got an incredible calmness. He knows his game and he picks a bowler and goes for it."

Du Plessis said that playing for CSK alongside Dhoni and under the guidance head coach Stephen Fleming has taught him a lot about leadership.

"I'm lucky to have started my journey there at CSK because I have really learned a lot from a leadership point of view. I tried to learn as much as possible from Dhoni and Stephen Fleming because both are great captains."

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Agencies
January 16,2020

New Delhi, Jan 16: Veteran cricketer Mithali Raj was on Thursday demoted to Grade B from A in the BCCI central contracts while Radha Yadav and Taniya Bhatia were elevated to the middle bracket.

Mithali not being kept in the Rs 50 lakh category was expected as the 37-year-old retired from T20s in September last year. However, she remains the ODI captain and plans to carry on till the 2021 World Cup.

T20 skipper Harmanpreet Kaur retained his A category contract alongside Smriti Mandhana and Poonam Yadav.

Radha and Taniya, who both had a Grade C contract worth Rs 10 lakh last year, have now entered Grade B (Rs 30 lakh).

Players getting a central contract for the first time are 15-year-old opener Shafali Verma and Harleen Deol, who like the teenager is an attacking batter.

Shafali has attracted a lot of attention ever since making her India debut last year. She recently made 124 against Australia A in Brisbane. The opener will be expected to deliver in the upcoming T20 World Cup Down Under.

Dropped from the list is Mona Meshram, who was in Grade C last year and hasn't played a single game in recent times.

The latest contracts run from October 2019 to September 2020.

Grade A (Rs 50 lakh): Harmanpreet Kaur, Smriti Mandhana, Poonam Yadav.

Grade B (Rs 30 lakh): Mithali Raj, Jhulan Goswami, Ekta Bisht, Radha Yadav, Taniya Bhatia, Shikha Pandey, Jemimah Rodrigues, Deepti Sharma.

Grade C (Rs 10 lakh): Veda Krishnamurthy, Punam Raut, Anuja Patil, Mansi Joshi, D Hemlatha, Arundhati Reddy, Rajeshwari Gayakwad, Pooja Vastrakar, Harleen Deol, Priya Punia, Shafali Verma.

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