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MC Insider: Lamborghini trail, controversial Goa party by bankers, logistics buzz, private bank valuations and more

Last Updated: May 02, 2022 / 09:02 AM IST

LAMBORGHINI TRAIL

The mutual fund industry is abuzz with whispers of an audit by market regulator Sebi into front-running cases within a top-tier asset management company. And if you are curious as to how it came to light, the tale is certain to elicit chuckles. The main accused, the dealer — a resident of the north-eastern suburbs of Mumbai — has been painting the town red in a Lamborghini and with only limited units of the luxury race car sold, it didn't take long to narrow down on this scam.

BIG SWITCH

BIG SWITCH

After withdrawing billions of dollars from the stock of the largest private sector bank and pumping it into the sector’s new kingpin over the last year, the chatter in the market is that a few US-based long-only funds are having a change of heart. Why? Is it the attractive valuations after a three-year underperformance or leap of faith that the bank will come up trumps from the biggest M&A in the sector? It is difficult to put a finger on what has triggered this change but one thing is for sure — they expect the down-and-out private lender’s stock to make a comeback and turn the tables on its biggest private sector rival.

LOGISTICS MOVES

LOGISTICS MOVES

In 2019, the McKinsey Global Institute predicted that India’s logistics sector would expand at a compound annual growth rate of more than 10 percent, from $200 billion in early 2020 to at least $320 billion in 2025. The pandemic ruined these projections but the segment is expected to play an important role with the entry of many organised players. The buzz on D-Street is that one of the listed logistics players which handles container freight stations and rail terminals had a global AMC selling its stake in the company. The stake on the other side was lapped up by two of the sharpest brains in the Indian stock market. One of them is a leading PMS manager and the other is a big and very successful private investor. Incidentally, the stock reached its fresh 52 week high during the week ending April 29, 2022.

DESI WOOING MNC TARGET?

DESI WOOING MNC TARGET?

Shifting focus now to deal street. A little birdie shared some gossip about a leading domestic plastics company that has set sail on an M&A voyage. And word is it will not stop at one acquisition. One of the firms on its radar is an MNC that is the market leader in its segment. Any guesses, folks?

CORNER OFFICE VACANCY

CORNER OFFICE VACANCY

Churn of top executives continues in India Inc and the latest chatter that we are picking up is that a domestic housing finance company backed by a PSU is likely to soon see a change of guard. So what could be the trigger? Buzz is that below par performance and some unexplained transactions of the past that tumbled out of the cupboard played spoilsport. Well, what’s new, right?

CONTROVERSIAL BANKER PARTY

CONTROVERSIAL BANKER PARTY

What's wrong if a group of public sector bank executives enjoy a party in Goa? Hardworking chaps that they are, they should be allowed to let their hair down once in a while, right? But what if the party was thrown by the bank's insurance partner for force-selling insurance products to the bank's customers? Well, that did raise some serious eyebrows. We hear that bank employee unions have forwarded a leaked video of executives of the partying to the regulator and the finance ministry. The party was offered by the insurance company after the bank pulled off record sales of insurance products to customers. In the video, the bank executives can be seen enjoying a sizzling dance performance. Last heard, a probe has been ordered into the incident.

VOX MEA

VOX MEA

The advertising business has always been a people business. Larger than life personalities on whom businesses and pitches hinge. But what happens when the said personality can't be everywhere, in every meeting and in every pitch? The answer: Voice notes. A very influential and well-known ad personality has unlocked the ultimate and easiest hack to make sure his words and voice are heard far and wide. He simply sends voice notes to his teams to play in meetings with clients so the lyrical voice of this famous adman reaches every corner.

WHAT’S IN A DESIGNATION?

WHAT’S IN A DESIGNATION?

The reporting structure in an advertising company that's gone through major structural changes has created a mega kerfuffle. Among the many issues this company faces is the fact that a lot of people with big, impressive designations that can barely fit on a business card are now reporting to people much junior to them. This is not going down well with folks, causing some to even leave the company.

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