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
February 29,2020

Melbourne, Feb 29: India skipper Harmanpreet Kaur on Saturday said the team management has given Shafali Verma the freedom to play her natural game, which has set the Women's T20 World Cup ablaze.

The 16-year-old announced her emergence on the global stage by becoming the second highest run getter in the ongoing tournament. She has so far scored 161 runs, hitting 18 fours and nine sixes in four matches at an astounding strike rate of 161.

On Saturday, Shafali hit a 34-ball 47 to steer India to a seven-wicket victory over Sri Lanka after spinner Radha Yadav produced a career-best 4/23.

"Shafali is someone who loves to play big shots, and we don't want to stop her. She should continue doing the same and she should continue enjoying her game," Harmanpreet said after the match.

India entered the semifinals with an all-win record as they led Group A with eight points from four games and the captain insisted it is important to continue the winning momentum.

"It's really important to keep the momentum when you are winning games. You really work hard, so you can't afford to lose that momentum. You can't bowl same pace and lengths on these wickets, so you need to keep rotating the bowlers."

"Today I tried to be positive and got a few boundaries. In the upcoming games I'll try to give my best," Harmanpreet said.

Meanwhile, Sri Lanka skipper Chamari Atapattu rued the reprieves given by her side to Shafali in the form of two dropped catches.

"I think that score was not enough, we lost couple of chances, specially Shafali, it was hard to stop her," she said.

"Yeah, I got a good start but unfortunately got out in the 10th, would have wanted to stay in there till the 16th or the 17th over. I hope we can beat Bangladesh in our last game," she added.

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Agencies
July 31,2020

Hampshire, Jul 31: David Willey's maiden five-wicket haul guided England to a six-wicket victory over Ireland in the first ODI here on Friday.

With this win, the hosts have taken a 1-0 lead in the three-match ODI series.

Chasing a small target of 173 runs, England got off to a bad start as opener Jonny Bairstow was given LBW in the third over, bowled by Andy McBrine. Jason Roy was then joined by James Vince and the duo added 22 runs on the board before the former was dismissed.

Craig Young then got hold of Vince, who was caught behind after scoring 25 runs. Sam Billings and Tom Banton then took the charge of the chase but the latter too was caught behind which ended his 11-run innings.

Banton's dismissal brought skipper Eoin Morgan on the field. Billings and Morgan played stunning innings and kept scoring boundaries. Morgan struck a scintillating six on the last bowl of the 28th over to take England over the line. Morgan scored 36 runs while Billings played a knock of 67 runs.

Earlier, after being asked to bat first, Ireland witnessed a poor start as Paul Stirling was dismissed in the very first over of the innings, bowled by Willey. Andy Balbirnie then joined Gareth Delany but Willey struck again in his next over, removing Balbirnie.

Delany then played furiously and smashed three consecutive boundaries to Saqib Mahmood in the fourth over. However, the fall of wickets did not stop as England took three wickets in quick succession. Mahmood bowled Harry Tector while Delany and Lorcan Tucker were sent back to the pavilion by Willey.

Kevin O'Brien and Curtis Campher then took the charge and played cautiously, taking their struggling side over the 50-run mark. Adil Rashid got hold of O'Brien (22) in the 22nd over before Simranjit Singh was run out in the same over.

Andy McBrine was the next batsman and he played brilliantly along with Campher, who went on to complete his half-century. Both formed a 66-run partnership before McBrine (40) was dismissed by Tom Curran.

Campher remained unbeaten on 59 but failed to find a partner as England bundled out Ireland on 172 runs.

The second ODI between both teams will be played on Saturday.

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Agencies
January 11,2020

London, Jan 11: Former cricketer Sachin Tendulkar's famous lap around the Wankhede Stadium after the World Cup 2011 win has been nominated in Laureas's list for the most inspiring sporting event in the last twenty years.

The moment featuring Tendulkar has been described as "Carried on the shoulders by a nation".

On his sixth attempt at the World Cup and with India not having won the competition since 1983, Tendulkar finally became a part of the team that lifted the coveted trophy. Carried on the shoulders of the Indian team, he made a lap of honour, shedding tears of joy after the victory was sealed in his home city.

The 2011 World Cup was also the first time, in which a host nation ended up winning the trophy.

Apart from Tendulkar, England's Andrew Flintoff is the only other cricketer to feature in the list. In 2005, England managed to defeat Australia in an Ashes Test, but Flintoff chose to first shake hands with Brett Lee rather than celebrate with his side.

Matthias Steiner (weightlifting), Natalie du Toit (swimming), Sky Brown (skateboarding), Alistair and Jonathan Brownlee (triathlon), Xia Boyu (mountaineering) have been nominated in the list.

Female tennis stars also feature in the list for coming up with an equal play, equal pay campaign. After pressure from Venus Williams and others, Wimbledon announced that female tennis players would receive prize money equal to the men's.

German international footballer Miroslav Klose was playing for Lazio in Italy's Serie A in 2012 against Napoli when he rose for a ball in the early moments of the game.

The ball came spiraling off his hand and skirted into the back of the net and a goal was awarded. While most players would carry on as if nothing had happened, Klose was honest with the referee and admitted that he handled the ball.

As a result, he also finds a place on the list.

The Laureus Sporting Moment Award celebrates the moments where the sport has unified people in the most extraordinary way.

This campaign has shortlisted 20 sporting stories from the last 20 years that have left their mark on the world.

The winner will be decided on the basis of public voting. It has already started, and the final date to cast the vote is February 16.

Finally, the result will be declared on February 17.
With three knock-out rounds, the top-20 moments will be whittled down to ten then five, with the top-five moments going head-to-head.

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