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Hush-hush tales from the world of stock markets, banking, corporate world and corridors of power

MC Insider: The hottest stock now, FII looking for fintech exit, airline deal, founder’s big birthday bash, and more

Last Updated: December 05, 2022 / 08:26 AM IST

Toast Of The Town

Shares of this PSU firm rose nearly 10 percent in the last week or so. The company was apparently the most hotly discussed scrip at a recent gathering of some of the brightest minds on Dalal Street. And discussed at length by the who's who of the stock market. Most of these investors came out from the gathering convinced that the company has everything going for it at a time when capex in Railways sector is surging at a rapid pace. Word on the Street is that some of the participants of the weekend shindig ended up lapping up the counter last week and, in turn, contributed to the strong performance of the stock.

Fintech Flight

Fintech Flight

Companies and their top brass are always on the hunt for good business opportunities and they see different value in the same business at different times. Buzz is that a European foreign institutional investor (FII) that bought a significant stake in this fintech firm a few years ago is now eyeing an exit. According to a little birdie, the management of the fintech firm and the representatives of this FII have already held an initial round of discussions with a diversified business house that might be interested in owning a part of the said fintech company. The details of the deal are not yet known but if it fructifies, the association with this business house will result in a credibility boost for sure.

Changing Track

Changing Track

According to whispers in the corridors of power, a vaccine maker which made a killing with its COVID-19 vaccine in India and saw turnover rising by over 5x is now looking to diversify its business profile. Senior officials of the company recently touched base with top mandarins in the Union ministry for heavy industries and were advised to explore business opportunities in the bustling electric vehicle sector. As an aside, the firm has also made generous donations to several temples in South India. "Profits have been pouring over the last year and the management is certainly looking to invest in areas hitherto untouched," said an insider.

Coal Goals

Coal Goals

Even as the world is dealing with an unprecedented energy crisis and countries are showing renewed interest in coal, global lenders are shying away from financing "dirty" coal projects. A conglomerate which has bagged coal mines in the auctions for commercial mining is understood to be desperate to tie up financing for these projects. The Chief and his trusted "soldiers" have been making trips to the power corridors in Delhi, asking ministry officials to give a "nudge" to domestic lenders to extend financing for the projects. The company officials are especially keen to have a certain PSU bank onboard as it would give confidence to other lenders.

Stake Lift

Stake Lift

Many industry participants and insiders are of the view that the majority shareholder of a domestic airline is likely to announce the sale of minority stake in the airline before the end of 2022. Many senior officials and industry insiders have said that the deal is likely to be worth around Rs 1,200 crore and will be announced soon. A foreign airline based out of the Middle East is seen as a frontrunner for the deal with the domestic airline which has been struggling financially for the last two years.

Birthday Bash

Birthday Bash

This entrepreneur, one of the poster boys of India's startup ecosystem, was in Bengaluru recently to ring in his 40th birthday. The entrepreneur, who is now a prolific investor in startups, moved out of India a few years ago but continues to be hugely popular among former employees of this storied startup. The birthday bash we hear turned out to be a reunion of sorts, with many executives, and people from multiple ventures where this executive has invested in, turning up for the event. Bengaluru clearly has this exec's heart, even if he has moved out. MC wishes him a very happy birthday!

Karma Bites Back!

Karma Bites Back!

This edtech startup, which was in news earlier this year for poaching teachers from a traditional education company, has apparently lost many teachers recently from one of its verticals to the same traditional education company. We hear the education company saw an opportunity to poach teachers from the startup when it cut salaries of teachers to stay afloat while grappling with the funding winter. Talk about karma biting back and this has to go as one of the best examples of it, at least in the startup world!

Deal Out Of Boredom?

Deal Out Of Boredom?

This venture capitalist stayed away from investments last year as he anticipated valuations to correct this year, giving him a good opportunity to buy at 'realistic prices.' But the slowdown this year was such that he got very few investment opportunities and ended up denying all. However, since he wanted to do at least one deal before the year ended, he is said to have invested a small cheque in a startup without doing much due diligence -- grapevine has it that he did this one purely out of boredom. Wonder how many such deals were happening in the previous slowdowns!

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