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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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 14,2020

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News Network
May 9,2020

May 9: Indian cricket icon Sachin Tendulkar has donated an undisclosed amount to financially help 4,000 underprivileged people, including children from Brihanmumbai Municipal Corporation (BMC) schools, amid the Covid-19 pandemic.

Tendulkar made the donation to the Hi5 Foundation, a non-profit organisation based out of Mumbai.

“Best wishes to team Hi5 for your efforts in supporting families of daily wage earners,” Tendulkar tweeted.

The organisation, through a tweet, thanked Tendulkar for doing his bit for the needy.

“Thanks @sachin_rt for proving once again that #sports encourages compassion! Your generous donation towards our #COVID19 fund enables us to financially aid 4000 underprivileged people, including children from @mybmc schools. Our budding sportspersons thank you, Little Master!”

The legendary batsman had earlier contributed Rs 25 lakh each to Prime Minister’s Relief Fund and Chief Minister’s Relief Fund for the country’s fight against COVID-19. Tendulkar had earlier pledged to bear the cost of feeding 5,000 people for a month in a couple of areas in Mumbai.

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