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
January 12,2020

Mumbai, Jan 12: India's pace spearhead Jasprit Bumrah will receive the prestigious Polly Umrigar Award for his exploits in international cricket in the 2018-19 season, the BCCI announced on Sunday.

The world's leading pacer will be honoured during the BCCI Annual Awards here on Sunday.

The world's No. 1 ODI bowler made his Test debut during India's tour of South Africa in January 2018 and has not looked back since. He picked up a five-wicket haul in South Africa, England, Australia and the West Indies becoming the first and only Asian bowler to achieve the feat.

He played a stellar role in the historic 2-1 Test series win in Australia, India's first Down Under and which helped them retain the Border Gavaskar Trophy. While Bumrah nets the biggest prize in the men's category, Poonam Yadav will claim the top prize in women's section and will be awarded the best international cricketer.

The award will be another feather in the leg-spinner's cap who recently received the Arjuna Award. Former India captains Krishnamachari Srikkanth and Anjum Chopra will be presented with the Col CK Nayudu Lifetime Achievement Award and the BCCI Lifetime Achievement Award for women respectively.

A member of the 1983 World Cup-winning team, Srikkanth took on the fearsome West Indies fast bowlers and scored an attacking 38, the top individual score in the low-scoring final at the Lord's. He also captained India and post-retirement served as the chief selector and it was during his tenure that the 2011 World Cup squad was picked.

Anjum is one of the finest batswomen and the first Indian to play 100 ODIs. In a career spanning 17 years, Anjum represented India in four 50-over World Cups and two T20 World Cup (played in one).

BCCI president Sourav Ganguly said, "The BCCI Awards is our way of recognising the finest on-field performances right from the age group to senior level and also honour our legends.

"It will be a special evening in Mumbai as we will also have the 7th MAK Pataudi lecture and I am delighted to inform that it will be Virender Sehwag, who will address the gathering."

Board secretary Jay Shah said, "The BCCI Awards are an important feature in India's cricketing calendar, a melange of aspiration and inspiration. "We wanted to make Naman bigger and better and have introduced four new categories – highest run-getter and wicket-takers in WODIs and best international debut men and women – from this year. A total of 25 awards will be presented."

Arun Singh Dhumal, the board's treasurer, said, "Right from domestic to international level, Indian Cricket has had a memorable 2018-19 season. We have started the year on the right note with Team India completing a convincing series win against Sri Lanka and they will be in attendance. The U-19 team is in South Africa for the World Cup and all eyes will be on the stars of tomorrow. It will be a special evening and I congratulate the award winners".

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Agencies
May 31,2020

London, May 31: "Jacques Kallis, Sachin Tendulkar, Virat Kohli," replied umpire Ian Gould when he was asked to name the three best batsmen he loved watching when he was officiating as an umpire.

The former ICC elite umpire said that he was unlucky to not watch Ponting bat as much as he would have liked to.

"Jacques Kallis. I loved watching Jacques. He was a very, very fine player. Sachin. And probably Virat. I was unlucky in some respects. I didn't see the best of Ricky Ponting. He was an outstanding character, outstanding captain, such a proud Australian," ESPNCricinfo quoted Gould as saying.

"But his career was just starting to wane as I came on the scene. But he was incredibly helpful, so I'm disappointed I have to leave him out. Jacques Kallis, I could sit and watch all day, Virat, the same. And Sachin, if you want someone to bat for your life, he was the man," he added.

Gould had retired from the ICC's panel of elite umpires in 2019, after standing in more than 250 international matches over a 13-year career.

Over the years, comparisons between Kohli and Sachin Tendulkar have been growing and many have picked the current Indian skipper to break the records set by Tendulkar.

Tendulkar called time on his career after registering 100 international centuries, while Kohli has 70 centuries across all formats.

While, Kallis played 166 Tests, 328 ODIs and 25 T20Is for South Africa and he is often viewed as the greatest all-rounder the game has seen.

Many pundits of the game find it hard to pick between him and Sir Garfield Sobers.

Across his career, Kallis scored 25,534 runs in his career and he also managed to take 577 wickets.

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News Network
June 2,2020

New Delhi, Jun 2: Manchester United's Paul Pogba on Monday paid tribute to George Floyd, stressing that violent acts of racism can no longer be tolerated and they have to stop.

Pogba took to Instagram to write: "During the past few days I have thought a lot about how to express my feelings about what happened in Minneapolis. I felt anger, pity, hatred, indignation, pain, sadness."

"Sadness for George and for all black people who suffer from racism Every day! Whether in football, at work, at school, Anywhere! This has to stop, once and for all! Not tomorrow or the next day, it has to end today! Violent acts of racism can no longer be tolerated," he added.

Protests erupted in Minneapolis and other US cities on Tuesday after Floyd, an African-American man, died following his arrest by the four officers.

A viral video showed a police officer, Derek Chauvin, pinning 46-year-old Floyd to the ground with his knee on his neck for nearly eight minutes. Floyd died at a local hospital shortly thereafter.

The four police officers were fired. Chauvin was also charged with murder and manslaughter, according to Hennepin County Attorney Mike Freeman.

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zaki ahmed
 - 
Wednesday, 3 Jun 2020

This photograph in the above mentioned article is of Floyd Mayweather Jr , the world welterweight & super heavy weight champion & wrongly menitoned as Pogba .

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