MC Insider: The minister's favourite, salt for sweeter returns and curious case of an IT stock

There are winds of change at this PE-backed financial service firm where the CEO , who came with loads of expectations from a leading lender, stepped down recently for personal reasons. There will be a transition phase though and the new man in the corner office has a risk mitigation background. So all eyes are on the new era under a new person in the corner office.

The heir apparent to a leading private hospital chain has emerged as the Union health minister’s new favourite to lead the G20 level talks on the healthcare sector. The said person is wielding so much influence at country level that some of the insecure babus just can’t stop cribbing. Most of these bureaucrats have to settle for secondary roles as this rising star takes charge in the meetings and after parties, they complain!

The answer is tea! Buzz is that the next target on the shopping list of this busy bee group is a tea company. A little birdie tells us that apparently the terms were laid out straight in the meeting: 51 percent majority stake or no deal. "If this tea maker does not agree, they can always find another one. Who would say no?". Talk about clarity of thought!

There is an FMCG major that has started investing and hiring to break into the snacks market. They are largely known for their sweet, baked foods, but we hear that it isn’t helping them in the rural market. Therefore, they are now working on launching smaller snack packs. For a while, there was a healthy-food messaging coming from their ads, but rumour has it that healthy foods didn’t help with volumes. So we hear now it is bite-size, salty treats they are after. Let’s hope it sweetens their topline and bottomline.

Shares of this company from the energy space perked up ahead of its earnings call with investors. Chatter on D-street is that the management is likely to announce some sort of ambitious capex plans during the call. Let's wait and watch what eventually unfolds. Many moons ago, the stock used to be a favourite with some of the savvy HNIs on Dalal Street. However, the big stories around this company never materialised, and all those holding the stock for over a decade have little to show for their patience. The recent quarter numbers were good, and that seems to be once again rekindling interest in the firm. But mind you: this is a stock where institutional investors have been trimming stakes for the past many quarters.

Last week was not a great one for IT shares, but this docile stock among the biggies had a wonderful run. What seems to have contributed to the sudden buoyancy? Well one possible reason could be there was strong market chatter that an industry veteran who moved the buy side was likely to come on board as CEO. But this was firmly denied when the gentleman was contacted. So what exactly is the story here? Hmm....

The top management of a pharma major got an unusual call from Noida’s law enforcement officials saying a former employee was duping healthcare workers using the company’s name. The doctors were being conned by the offer of a free trip abroad sponsored by the pharma firm. A little bird told Moneycontrol that even after publishing caution notices in newspapers across India, the doctors were getting duped ! The imposter was arrested from West Bengal last week. Phew!

Some of you would have noticed the major fundraising announcement from a large player recently from the FIG segment. Why now? Whispers from those familiar with the move tell us the fundraising was apparently part of a deft strategy to mop up huge money before the company's combination takes effect with another firm , post which the fund raising through such a channel and in this scale would have perhaps been tougher from a regulatory point of view. Pre-merger, the process was hassle-free.