22 August, 2013

Rising debt burden throws corporate biggies into a tizzy

When vultures hover above, you know that times are truly bad. As bad loans bruise the financials of corporates and in turn the banks who have lent them, vulture investors smell an opportunity to buy the distressed assets at a bargain price.

P Rudran, managing director of Arcil — India's largest asset reconstruction firm, says banks, unlike in the past, when they normally approached firms such as Arcil in the second half of the financial year with distressed assets, have kick-started the process in the first quarter of the year itself.

"It is good for us when non-performing assets increase as it spells better opportunities for us," Rudran said. "We have not concluded any deals. We are still doing due diligence on some of the assets that are being hawked," he added.

5th Test: Watson's 176 guides Australia to 307/4 on Day 1

Shane Watson's magnificent 176 put Australia in command at 307 for four on the first day of the fifth and final Ashes Test against England at The Oval on Wednesday.

Rohan bags double crown; Malvika, Ritika triumph at State Badminton

For the first time in the Nagpur badminton history, city players have won four titles in a single state tournament.

The fifth and last day of the first Maharashtra State Sub-Junior (U-13 and U-15) Ranking Badminton tournament at Aurangabad turned out to be a memorable one for the Nagpur shuttlers.

Interestingly, all the four titles in the U-13 section were claimed by Nagpur making a complete sweek. All the winners are from Centre Point School.

Rafael Nadal wins Rogers Cup

Spain's Rafael Nadal jokingly bites the trophy after defeating Canada's Milos Raonic in the Rogers Cup final match in Montreal.