Core opportunity

When Core Healthcare (CHL) a multi-product company and the largest intravenous IV fluids manufacturer in the country, was vested with the As...

When Core Healthcare (CHL) a multi-product company and the largest intravenous IV fluids manufacturer in the country, was vested with the Asset Reconstruction Company of India (ARCIL) and put up for sale, Karsanbhai Patel joined MNCs to make a bid for it. However, while the global boys soon opted out, the tycoon stuck on and thus got for himself Core Healthcare in a Rs 300-crore acquisition. Core still holds a marketshare of almost 40 per cent in the IV fluids market, and that is what the Nirma tycoon is looking at. Core’s debt began when it chose a very aggressive growth strategy, which did not work out due to factors such as delayed and high cost financing. If things go as planned, the tycoon could get a entry into the healthcare segment. And considering the trouble he’s had to face in the past due to the lack of brand image when he entered the food sector, Patel can be confident of more than enough brand recognition to start with in the pharma sector.

No Family, Please

Captain G.R. Gopinath truly believes that Air Deccan will become a $1 billion airline within the next seven years. And to make that happen he has chosen to reduce his stake in the company. Gopinath clearly doesn’t believe it needs to be a family-run affair and he’d rather have it run by professionals. He insists that Air Deccan’s IPO is to introduce the company in a way that the public can partake of the wealth that the company makes. It’s another thing that the tycoon will use the funds to expand too! Gopinath completed conducting his study of different jets and has chosen Cessna. Probably because Cessna’s Citation B executive jets have very low operating costs – ideal for the tycoon. While these jets will be used for domestic corporate charters, he has plans of acquiring some long-distance business jets too that will be able to fly on trans-continental routes. He has also signed a deal for Airbus A-320s that will help increase Air Deccan’s services and connect with more cities.

JV Jitters

Everyone was surprised by Brijmohan Munjal calling off his joint venture with Italian company Aprilia. This was no sudden change of heart, but something the tycoon had suspected would have to be done soon after the ailing Aprilia was taken over by Piaggio at the end of last year. Piaggio had always had a keen interest in India and was enthusiastic about setting up its own venture here, and that’s what it has now done — decided to enter the second-largest scooter market in the world on its own. While it may have left the tycoon partnerless, all ties have and not quite been broken.

Hero Motors may still be the ones to provide critical auto components and engines for Piaggio. This should cheer the tycoon up, who had after all was set to manufacture components of Aprilia’s ungeared scooter targetted at the youth in India. As for salvaging his dream of ‘entering the international two wheeler market as a leader’ that may be on hold, but if he gets into partnership mode again, this is one tycoon who will definitely confirm his partner’s seaworthiness before setting sail for any more joint trips.

dilipcherian@hotmail.com

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