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
June 22,2020

New Delhi, Jun 22: Claiming to be saddled with faulty equipment from China, the Indian Weightlifting Federation (IWLF) on Monday called for a boycott of sports apparatus made in that country after the violent face-off in eastern Ladakh killed 20 Army personnel last week.

The IWLF ordered four weightlifting sets, comprising barbells and weight plates, from Chinese company 'ZKC' last year. The body said that the equipment turned out to be faulty and the weightlifters are no longer using them.

"We should boycott all Chinese equipment. The Indian Weightlifting Federation has taken the decision that it will not use any equipment made in China," IWLF secretary general Sahdev Yadav said.

The IWLF, in a letter, has informed the Sports Authority of India (SAI) about its decision to stop using any equipment made in China.

"In a letter to SAI we have written that IWLF won't be using the Chinese equipment," he said.

"In future also we will not use made in china sets. We will use sets made by Indian origin companies or any other company but not from China," Yadav added.

National coach Vijay Sharma revealed that the plates were found to be sub-standard when the lifters started training again earlier this month following the easing of the COVID-19 lockdown restrictions.

"The sets were spoilt. We can't use them now," Sharma said.

"All the weightlifters in the camp are against China. They have stopped using Chinese apps like Tik Tok. Even while ordering things online, they check where the product has been manufactured," he added.

Asked why the sets were even ordered, Sharma said they had no option as the equipment from China is to be used in the Tokyo Olympics and lifters needed to be familiar with it.

"We had ordered four sets from China for Olympic training a year ago. Now, since we have resumed training post the lockdown we haven't used them. All the lifters are against the use of Chinese equipment," he said.

He said equipment was ordered from China for the first time.

"We don't order equipment from China as the quality is very bad. This was the first time we got it."

The weightlifters are currently training with equipment made in Sweden.

"Post the lockdown we started training on sets from Swedish company 'ELICKO'. SAI has issued 10 sets for us. The main training takes place with those. Maximum international competitions have sets from ELICKO," Sharma said.

Yadav also said that there are ready alternatives to Chinese equipment.

"We have a lot of alternatives. We already have good Indian sets and we also have equipment from Sweden. We will use that, why should we use Chinese?" Yadav said.

Calls to boycott China-made goods erupted across India after the Galwan valley clash last Monday. It was the most violent face-off between the troops from the two countries in more than four decades.

The Indian Olympic Association (IOA) has said it is open to boycotting Chinese products in the wake of the incident.

The BCCI will also review IPL's sponsorship deals, including the title deal with Chinese mobile manufacturing company Vivo later this week.

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Agencies
July 7,2020

New Delhi, Jul 7: Wicket-keeper batsman MS Dhoni is known for his finishing heroics and ending the match with a big shot to send a billion people in a frenzy.

For over a decade, Dhoni's swashbuckling batting style, especially the famed helicopter shot, gave international bowlers a headache. As the former Indian skipper celebrates his 39th birthday today, let's relive his first century in international cricket.

It was on April 5, 2005, when Dhoni had registered his first international century. The former skipper registered the feat against Pakistan in the second ODI of the six-match series. The match was played at the Dr YS Rajasekhara Reddy ACA-VDCA Cricket Stadium in Visakhapatnam.

Dhoni had made his ODI debut against Bangladesh in 2004. However, he did not have a good outing as he scored just 19 runs in the three-match series. But the wicket-keeper truly arrived in the series against Pakistan in 2005, as he scored 148 runs in the second ODI of the six-match series at Visakhapatnam.

In the match, India won the toss and opted to bat first. The side lost Sachin Tendulkar's wicket in the fourth over of the innings and it brought Dhoni to the middle.

Dhoni, along with Sehwag, took on the Pakistan bowlers and the duo formed a 96-run stand, which saw Sehwag going past the 50-run mark. Sehwag (74) was sent back to the pavilion in the 14th over, but Dhoni then found support in Rahul Dravid and the duo stitched a 149-run stand.

Dhoni smashed 15 fours and four sixes in his innings and scored 148 runs from 123 balls, taking India's total to 356/9 in the allotted fifty overs.

India then managed to defend the total as the side bundled out Pakistan for 298 as Ashish Nehra scalped four wickets.

Dhoni has so far played 350 ODIs with his highest score being 183 against Sri Lanka. He also remains the only captain to win all major ICC trophies (50-over World Cup, T20 World Cup, and Champions Trophy).

Also referred to as 'Captain Cool', Dhoni is known for his calmness and exquisite captaincy on the field.

Over the years, he has cemented his place as one of the finest wicket-keepers across the world. His agility behind the stumps has given India many breakthroughs as the Ranchi-based wicket-keeper has done successful stumpings in no time.

He is also known for his knack of opting for reviews and many have jokingly remarked to change the 'Decision-Review System's' name to 'Dhoni-Review System'.

In December 2014, he announced his retirement from Tests and gave a chance to the likes of Wriddhiman Saha. Dhoni called time on his Test career after playing 90 Tests, managing to score 4,876 runs at an average of 38.09.

Then in 2017, he handed over the captaincy to Virat Kohli in the 50-over format. However, the wicket-keeper enjoys a great camaraderie with the latter and the duo have been seen often taking decisions together on the field.

Under Dhoni's leadership, India also managed to attain the number one ranking in Test cricket. His Indian Premier League (IPL) franchise Chennai Super Kings (CSK) has also won the tournament thrice under his leadership.

Dhoni was slated to return to the cricket field on March 29 during the IPL's opening match between CSK and Mumbai Indians. However, the tournament has been postponed indefinitely due to COVID-19 pandemic.

The 39-year-old has been currently enjoying some time away from the game. He last played competitive cricket during the 2019 World Cup. 

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Agencies
January 9,2020

Kuala Lumpur, Jan 9: BWF World Championships defending champion PV Sindhu on Thursday cruised to the quarterfinals of the ongoing Malaysia Masters after winning a second-round match.

The 24-year-old had the upper hand in the clash and thrashed Japan's Aya Ohori in straight games 21-10, 21-15 that lasted for 34-minute. The world number six will now play in her quarterfinal match on January 10.

Earlier in the day, Saina Nehwal defeated South Korea's An Se Young 25-23, 21-12 in 38 minutes. The first game saw back and forth action between both shuttlers. In the end, Nehwal kept her cool to win the match.

On Wednesday, the 29-year-old had outclassed Belgium's Lianne Tan 21-15, 21-17 to progress to the pre-quarterfinals.

Shuttlers Parupalli Kashyap and Kidambi Srikanth crashed out of the tournament after losing their matches to Japan's Kento Momota and Chou Tien Chen of Chinese Taipei respectively. 

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