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 17,2020

Jan 17: Indian tennis ace Sania Mirza cruised into the women's doubles final of the Hobart International with her Ukrainian partner Nadiia Kichenok here on Friday.

Sania and Kichenok sailed past the Slovenian-Czech pair of Tamara Zidansek and Marie Bouzkova 7-6 (3) 6-2 in the semifinal contest that lasted one hour and 24 minutes.

The fifth-seeded Indo-Ukrainian combination will lock horns with second seeds Shuai Peng and Shuai Zhang of China. The Chinese pair got a walkover after Belgium's Kirsten Flipkens and Alison Van Uytvanck conceded the other semifinal match because of injury.

While Sania and Kichenok had to fight hard in the opening set, the second set was a cakewalk for the combination.

The first set was a tough contest between the two pairs, bringing the tie-breaker into the equation after it was level at 6-6.

In the tie-breaker, Sania and Kichenok upped their game by a few notches to outsmart their opponents and take the lead.

The second set was a no-contest as Saina and Kichenok broke their opponents thrice -- in the second, sixth and eighth game -- to easily pocket the set and a place in the summit clash.

Saina and Kichenok got 11 break chances out of which they converted four, while their opponents utilised two out of the five break chances that came their way.

The 33-year-old Sania is returning to the WTA circuit after two years. During her time away from the game, she battled injury breakdowns before taking a formal break in April 2018 to give birth to her son Izhaan. She is married to Pakistani cricketer Shoaib Malik.

Before the ongoing event, Sania last played at China Open in October 2017.

A trailblazer in Indian tennis, Sania is a former world No.1 in doubles and has six Grand Slam titles to her credit.

She retired from the singles competition in 2013 after becoming the most successful Indian woman tennis player.

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News Network
February 26,2020

Melbourne, Feb 26: On a high after two easy victories on the trot, including one against defending champion Australia, the Indian women's cricket team will aim to inch closer to a semifinal berth when it takes on New Zealand in the ICC Women's T20 World Cup here on Thursday.

The Indians have hardly broke a sweat in their 17-run and 18-run wins over hosts Australia and Bangladesh in their previous two matches, and they are perched at the top of five-team Group A standings with four points from two matches.

A win against New Zealand on Thursday will take the Harmanpreet Kaur-led side on the threshold of a knock-out stage spot, to be competed among top two teams from Group A and B.

In the two matches so far, the Indian team has been impressive both in batting and bowling.

The 16-year-old sensation Shafali Verma has been the standout batter with a whirlwind 17-ball 39 against Bangladesh, following her 29 against Australia.

One-down Jemimah Rodrigues has also been among the runs with 26 and 34 in the two matches so far.

Only captain Harmanpreet, among the top order batters, has not scored big and she is due big innings.

India is also likely to be bolstered by the return of star opener Smriti Mandhana who missed the match against Bangladesh due to fever.

The middle-order has also done its bit with Deepti Sharma playing a major role against Australia with an unbeaten 49 while Veda Krishnamurthy hit a match-defining 11-ball 20 not out for a late flourish against Bangladesh.

The bowling department has been led admirably by seasoned leg-spinner Poonam Yadav -- seven wickets in the first two matches -- with pacer Shikha Pandey ably supporting her with five scalps so far.

New Zealand, though, have a better head-to-head record against India in recent years, having won the last three matches between the two sides.

Exactly a year back, they had beaten the Indian team 3-0 in a three-match T20 International home series.

India will, however, remember their massive 34-run win against New Zealand in the previous edition of the T20 World Cup in 2018 in the West Indies. Harmanpreet had struck a memorable 103 to lead her side to victory.

New Zealand have some top-class players in their ranks in the form of captain and all-rounder Sophie Devine and top-order batswoman Suzie Bates while pacer Lea Tahuhu and leg-spinner Amelia Kerr will lead the bowling department.

They will go into this match on a high after an easy seven-wicket win over Sri Lanka on Saturday.

Devine had led her side from the front with an unbeaten 75 off 55 balls at the top of the order in that win.

The Teams:

India: Harmanpreet Kaur (capt), Smriti Mandhana, Jemimah Rodrigues, Deepti Sharma, Shafali Verma, Poonam Yadav, Radha Yadav, Taniya Bhatia (wk), Harleen Deol, Rajeshwari Gayakwad, Richa Ghosh, Veda Krishnamurthy, Shikha Pandey, Arundhati Reddy, Pooja Vastrakar.

New Zealand: Sophie Devine (capt), Rosemary Mair, Amelia Kerr, Suzie Bates, Lauren Down, Maddy Green, Holly Huddleston, Hayley Jensen, Leigh Kasperek, Jess Kerr, Katey Martin (wk), Katie Perkins, Anna Peterson, Rachel Priest, Lea Tahuhu.

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News Network
April 4,2020

New Delhi, April 4: India skipper Virat Kohli has said that the 2014 Test series against England was the lowest point of his career.

He made the revelation during a candid Instagram Live session with former England batsman Kevin Pietersen.

To date, the 2014 Test series in England remains one of the worst Test series for Kohli as he averaged just 13.40 from 10 ten innings with his highest score being 39.

"I felt like as a batsman, you know you are going to get out in the morning as soon as you wake up. That was the time I felt like that there is no chance I am getting runs. And still to get out of bed and just get dressed for the game and to go out there and go through that, knowing that you will fail, was something that ate me up," Kohli told Pietersen.

However, just four years later, Kohli made a triumphant return to England as he scored a century in the opening Test of the 2018 series and finished as the highest run-getter in the series.

Kohli told Pietersen that the performance in 2014 came because he was just thinking about his own batting.

"2014 series happened, for all the younger guys listening, because I was too focused on doing well from a personal point of view. I wanted to get runs. I could never think of what does the team want me to do in this situation," Kohli said.

"I just got too engulfed with England tour - if I perform here, Test cricket, in my mind I am going to feel established and all that crap on the outside, which is not important at all," he added.
During the chat, Kohli talked about his favourite format in cricket and he also revealed the main reason for turning into a vegan.

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