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 29,2020

New Delhi, Jan 29: Badminton champion Saina Nehwal joined the ruling BJP today and is likely to campaign for the party ahead of the February 8 Delhi election.

"I have won medals for the country. I am a very hardworking and I love hardworking persons. I can see Prime Minister Narendra Modi does so much for the country, I want to do something for the country with him," the shuttler said, wearing the BJP scarf.

"I draw a lot of inspiration from Narendra sir".

Haryana-born Saina Nehwal, 29, is a major acquisition for the party in the middle of the Delhi poll campaign; she is one of the most popular sportspersons in India with a huge fan following and brand value. She is preparing for the 2020 Tokyo Olympics.

A former world number 1, she has been honoured with the country's top sporting awards like the Rajiv Gandhi Khel Ratna and Arjuna Award. She was also awarded the Padma Bhushan in 2016.

The Badminton player has won over 24 international titles. In the London Olympics, she won a bronze. She was world number two in 2009 and number one in 2015.

With her tweets praising Prime Minister Narendra Modi, Saina Nehwal was widely seen to lean towards the BJP.

One of her tweets became controversial when it was found to be identical to several others in praise of a PM Modi speech last year. Saina was trolled on Twitter with screenshots of the identical tweets. She was also among the sportswomen who put up identical tweets on Diwali thanking PM Modi for his initiative to empower women, with the hashtag #bharatkilaxmi.

The BJP roped in many famous personalities last year, including cricketer Gautam Gambhir, who was elected MP from Delhi in the national election, and wrestler Babita Phogat. Just before the Haryana assembly polls, the party roped in wrestler Sushil Kumar, Babita Phogat and former Hockey team captain Sandeep Singh. Sandeep Singh won the election and was appointed minister.

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News Network
May 21,2020

Mumbai, May 21: Former India opener Gautam Gambhir has chosen legendary Sachin Tendulkar over current skipper Virat Kohli as a better batsman in the ODI format, considering the changed rules of the game and the Mumbaikar's longevity of career.

Tendulkar, who retired in 2013, played 463 ODIs and amassed 18, 426 runs with 49 hundreds at an average of 44.83.

Kohli, on the other hand, has played 248 ODIs and scored 11, 867 runs with 43 tons at an average of 59.33.

"Sachin Tendulkar, because probably with one white ball and four fielders inside the circle, not five fielders outside, it will be Sachin Tendulkar for me," Gambhir said on Star Sports show 'Cricket Connected'.

Nowadays, a one-day innings is played with two white balls and with three powerplays.

In the first power play (overs 1-10), two fielders are allowed beyond the 30-yard circle, while in the second powerplay (overs 10-40) four fielders are allowed. In the last powerplay (overs 40-50), five fielders are allowed outside the 30-yard circle.

Gambhir, who was the star performer in 2011 ODI World Cup final which India won, feels that the change in rules has helped batsmen.

"It's difficult because Virat Kohli has done phenomenally well but I think the rules have changed as well, which has helped a lot of new batters," elaborated Gambhir, who played 58 Tests and 147 ODIs.

"The new generation, with 2 new balls, no reverse swing, nothing for the finger spin, five fielders inside for the 50 overs, probably that makes batting much easier.

He said he would also go with Tendulkar, considering his longevity and flow of the ODI cricket format at that time.

"Probably I’ll go with Sachin Tendulkar if we see the longevity and flow of the one-day cricket format.

"Look at how Sachin Tendulkar has played, different rules, that time 230 to 240, was a winning total," Gambhir signed off. 

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News Network
February 29,2020

Feb 29: India were all out for 242 in their first innings following a stunning battling collapse, triggered by paceman Kyle Jamieson on the opening day of the second cricket Test against New Zealand at the Hagley Oval, here on Saturday.

India were steady at 194 for five at tea but lost wickets in quick succession after the play resumed. Jamieson returned figures of 14-3-45-5.

Hanuma Vihari top-scored for India with his combative 55 while Prithvi Shaw (54) and Cheteshwar Pujara (54) hit contrasting half-centuries.

Virat Kohli's (3) poor run continued while his deputy Ajikya Rahane (7) also fell cheaply.

India lost last five wickets for 48 runs, of which 26 were contributed by last-wicket pair of Mohammed Shami (16) and Jasprit Bumrah (10).

Brief Scores:

India 1st innings: 242 all out in 63 overs. (H Vihari 55, P Shaw 54, C Pujara 54 batting; Kyle Jamieson 5/45, Tim Southee 2/38, ).

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