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SEBI Finalising Guidelines To Allow Private Equity To Invest In Mutual Funds
SEBI is said to be finalizing revised guidelines to pave the entry of private equity firms in the AMC business. Currently there are two to three mutual funds which are reportedly looking to get out at a decent price. L&T Mutual Fund is one of them. The 12th largest fund by the AUM size, L&T Mutual Fund manages Rs 58,000 crore worth of assets. IDFC Mutual Fund is another fund which is being eyed by the entrants wanting to get into the mutual fund space. They reckon with ESG schemes picking up, investors will be keen to look at avenues to park funds in these schemes. One of the potential private equity companies looking keenly at getting into the Indian mutual industry is Blackstone. It is believed that once regulators permit, they will be moving quickly to take a stake in the AMC of L&T and IDFC.
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Rumour Mills Abuzz As Salman Khan Opts Out Of Bollywood Remake Of Tamil Hit Master
Tamil film Master with Vijay as a hero and Vijay Sethupathi as the villain directed by Lokesh Kanakaraj turned out to be the 2021 blockbuster despite the lockdown. A very restricted cinema release and the earliest to mount the OTT platform (Amazon Prime), Master grossed, according to industry sources, Rs 300 crore with its fast and furious story and screenplay that Kanakaraj penned. A tad lengthy, critics wished it could have been trimmed to match Vijay’s fit persona! This South Indian director is no flash in the pan, as his earlier movie Managaram (now shaping up in Hindi as Mumbaikar) and Kaithee’s success proved.  Salman Khan was approached for the Hindi remake of Master. Even as the pre-production details were sewn up, Salman Khan opted out.  Apparently, Salman Khan was not quite happy with the story and screenplay, and suggested some changes. But, director Kanakaraj, sources say, did not agree to be involved with the project after those changes. He has taken up another assignment to direct a film featuring Vijay, Kamal Haasan and Fahadh Faasil.  The producer who has the Hindi remake rights will have to wait for now. Post the release of Master, it is rumoured, Vijay’s earnings have skyrocketed to the Rs 120 crore fee bracket. Opportunity and luck do not knock often at the doors of supplicants.
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Cheteshwar Pujara: The Fulcrum Around Which Kohli, Rahane Have Flourished
The fault finding chatter about the snail-pace run-scoring of Cheteshwar Pujara has not stopped even after his bulwark-like 206-ball 45 in the second innings of the Lord’s Test that India won following unbelievable team heroics. The thickset looking one-drop in 132 innings so far of his 88 Test matches, has come under flak for his barn door defence at the crease ever since India’s campaign in the Border-Gavaskar Trophy that the Ajinkya Rahane-led team transformed itself from a down-and-out side in Adelaide into a gargantuan at the Gabba. The fact though is that right from the legendary opening batsman Sunil Gavaskar to the captain Kohli, vice-captain Rahane and the batsman in form KL Rahul have backed Pujara to the hilt. For long Pujara has been the fulcrum around whom Kohli has accumulated runs and has given substance to the third wicket stand (2,567 runs in 46 matches/56 innings). Rahane under the cosh has joined forces with Kohli, and amassed 2,933 runs in 38 matches/ 46 innings for the fourth wicket. Pujara and Rahane have made 1135 runs for the fourth wicket for a healthy average of 45.40. The numbers speak a lot, and the negative noise following the 100 run undertaking by the ‘targeted’ Pujara and Rahane at Lord’s, may have temporarily ceased. The Pujara-Kohli-Rahane combine has delivered aplenty for Indian cricket, including some splendid wins.
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Siraj’s Deadly Yorkers Unnerve England’s Batsmen
The son of an auto-rickshaw driver did not get his name on to the honours board at Lord’s but he led his fellow quicks to make that famous victory possible with eight wickets in the Test. Mohammed Siraj’s intensity has undone England’s Test batsmen as much as Jasprit Bumrah’s pace. His steep angles into the right handers, but more importantly away from the left handers have had a consistently unsettling effect as they are not able to pick him. Siraj, a champion bowler in tennis ball street cricket around Hyderabad, started bowling with a hard ball only after he was 20 when in 2015 he joined Charminar Cricket Club. And when the IPL bidding stopped at Rs 2.6 crores from Sunrisers, Siraj’s first instinct was to tell his father to stop driving his 3-wheeler for a living. Siraj will be one of the charged-up skipper Virat Kohli’s main weapons as Team India goes into the Headingley Test convinced that they are the better side and must press on to win the 5-Test series. A fuller length that suits English conditions best, a deadly yorker developed from bowling the tennis ball, stamina and persistence are Siraj’s plus points. As the 5-day format gives him time to work on the batsmen, his only regret is that his dad passed on before his Test debut.

TRENDS & VIEWS

Editor’s Note: Big Punch In Small Pack

It is the Third Anniversary of Short Post and as a news media startup launched during the Covid-19 pandemic it certainly feels better than good to find ourselves where we are today. Here, I must cite the unstinted support of our seasoned contributors, all senior editors in the country, who brought a great degree of maturity and sagacity to the Short Post newsroom. But for them, our tagline “Authentic Gossip”, an Oxymoron, would not have matured viably. Our user numbers may be small but our stories have created the desired impact among people who matter — decision makers and influencers. We offer a big punch in a small pack and Short Post with its 225-word stories has been punching above its weight category. Having posted close to 3,000 stories in the last 36 months, Short Post, I feel, is an idea whose time has come.
And this is vindicated by our two marquee advertisers – IDFC FIRST Bank and ICICI Lombard. Both believed in our story and have supported us from Day one. A big thank you to both.
If you look at the media landscape – print, TV and digital — it is a mixed bag. There are job losses as some outfits have closed down while a lucky few were bailed out by large corporate houses. Yes, there is a lot of action in the digital space. However, the entry of corporate houses has raised the question of independence of news media outfits. Sadly, there are just a handful of independent media outfits in the country that are highly respected for their neutrality. At Short Post, our credo is not to take sides, prejudge issues or be biased but, informing readers of behind-the-scenes happenings. In essence, Short Post strives to be a neutral editorial platform — neither anti-establishment nor pro-establishment.
As I said last year, disruptions in the media world are moving at a fast and furious pace. Technology is playing a very big role in how content is generated and consumed. But, we are neither alarmed nor perturbed as it is all a part of the evolution process. What gives us comfort is that AI is unable to create original gossipy content. And that is the news arena where we have achieved a distinction.