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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
August 9,2020

Manchester, Aug 9: Chris Woakes and Jos Buttler played knocks of 84 and 75 respectively as England gained an improbable three-wicket win over Pakistan in the first Test of the three-match series here at the Emirates Old Trafford.

England chased down a total of 277 on the fourth day of the first Test.

Chasing 277, England openers Rory Burns and Dom Sibley put on 22 runs for the first wicket, but Mohammad Abbas finally provided the breakthrough to Pakistan as he had Burns (10) adjudged leg-before wicket in the 12th over.

Skipper Joe Root came to the crease next, and he along with Sibley ensured that the side does not lose any more wickets before the lunch break, and England went into the lunch break at 55/1.

Sibley and Root eventually put up a 64-run stand, but their partnership was finally brought to an end by Yasir Shah as he dismissed Sibley (36) in the 36th over. Soon after, skipper Root (42) was also sent back to the pavilion by Naseem Shah, reducing England to 96/3 in the 39th over.

All eyes were on all-rounder Ben Stokes (9), but Pakistan's Yasir Shah sent him back to the pavilion in the 42nd over, and England was left in a spot of bother. Shaheen Shah Afridi, then also got among the wicket-taking charts as he scalped the wicket of Ollie Pope (7), reducing England to 117/5 in the 45th over.

Chris Woakes and Jos Buttler then got together at the crease, and the duo played in an aggressive manner to retrieve the innings for England. The hosts went into the tea break at 167/5, still, 110 runs away from the target with five wickets in hand.

Buttler and Woakes continued their march to frustrate the Pakistan bowling attack and the duo brought the target within the grasp of England. Both batsmen put up a stand of 139 runs, however, with just 21 runs away from the target, England lost the key wicket of Buttler (75) as Yasir Shah had him trapped in front of the wicket.

With England just needing four more runs for the win, Yasir Shah dismissed Stuart Broad (4), but in the end, Woakes and Dom Bess ensured England's win by three wickets.

For Pakistan, Yasir Shah was the pick of the bowlers as he scalped four wickets.

Earlier, resuming day four at 137/8, Yasir Shah (33) along with Mohammad Abbas (3*) and Naseem Shah (4) added 32 more runs to the overnight score to give England a target of 277 to win the first Test.

Stuart Broad was the pick of England bowlers as he scalped three wickets.

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News Network
May 19,2020

Karachi, May 19: Babar Azam wants to take a leaf out of Imran Khan's aggressive captaincy and besides cricket, he is also brushing up his English to become a "complete leader" like the World Cup-winning all-rounder.

Last week, the star batsman took over the reins of Pakistan's white-ball cricket after being appointed as the ODI skipper.

Azam, who was one of the world's leading batsmen across formats last year and already the T20 skipper, replaced wicket-keeper batsman Sarfaraz Ahmed as the ODI captain for the 2020-21 season.

"Imran Khan was a very aggressive captain and I want to be like him. It is not an easy job captaining the Pakistan team but I am learning from my seniors and I have also had captaincy experience since my under-19 days," Azam said.

He said that to be a complete captain one must be able to interact comfortably with the media and express oneself properly in front of an audience.

"These days I am also taking English classes besides focussing on my batting," he said on Monday.

The 25-year-old Babar said he was not satisfied with Pakistan's current standing in international cricket.

"I am not happy with where we stand and I want to see this team go up in the rankings."

Babar said captaincy would be a challenge for him but it would not affect his batting.

"It is an honour to lead one's national team so it is not a burden for me at all. In fact, after becoming captain, I have to lead by example and be more responsible in my batting."

Babar hoped the T20 World Cup is held this year in Australia as he wanted to lead his team in the ICC event.

"It would be a disappointment if the event was not held or rescheduled because I am looking forward to playing in the World Cup and doing well in it," he said.

About plans for Pakistan to fly to England in July to play three Tests and three T20 internationals amid the COVID-19 pandemic, Babar said a lot of hard work and planning would be required to make the players feel comfortable and safe.

"Touring England won't be easy. Health and safety of players is of great importance and the tour will only be possible when proper arrangements are in place," he said.

"Both England and Pakistan team fans, along with the cricketers, are missing cricket because of the pandemic."

"We will still try to perform to the best of our ability despite no support from the fans in the stadium," he added.

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News Network
January 2,2020

New Delhi, Jan 2: On the first day of the New Year 2020, Hardik Pandya announced his engagement with Serbian actor Natasa Stankovic.

The cricketer took to Instagram to share a photo with the actor and captioned the post: "Mai tera, Tu meri jaane, saara Hindustan. 01.01.2020 #engaged".

The 26-year-old shared three pictures and a short clip on the social media platform. In one photo, Stankovic can be seen flaunting her ring.

The couple got engaged in Dubai and were seen taking a ferry ride along with close friends.

On work front, Stankovic was last seen in a song from Bollywood movie The Body starring Emraan Hashmi and Rishi Kapoor. She had also made it to the finals of the TV show Nach Baliye with her ex-boyfriend Aly Goni.

Stankovic first became a household name after appearing as a contestant on famous reality show 'Bigg Boss 8'.

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