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May 02, 2022 / 09:02 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.

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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.