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For reasons best known to it, the Congress decided to toast and celebrate its by-election wins even though it was decimated in the North East. Party leader Jairam Ramesh went on to emphasize how the Congress had wrested the Kasba Peth assembly seat in Pune after 33 years and managed to make a debut in West Bengal assembly by winning Sagardighi seat after 51 years. In the last West Bengal assembly elections, the Congress had drawn a blank. Congress sources, however point out that winning Kasba Peth was more due to inept handling by state BJP; the assembly seat was handed on a platter to the Congress. Pune MP Girish Bapat reportedly wanted the seat for his daughter-in- law but he had failed to get Deputy CM Devendra Fadnavis’s backing. When the party leadership refused to oblige him, Bapat sulked and did not push for a BJP win. Even as PM Modi vowed to expose the CPM-Congress alliance in Kerala, Jairam explained how the tie-up proved to be a face-saver – it had helped the party get at least 5 seats, in 2018 it was zero. In Meghalaya, of course after its entire team of 21 MLAs led by Mukul Sangma joined TMC, the party had reasons to be happy that it had won 5 seats. But then the Congress doesn’t realise that exodus to the TMC wouldn’t have happened if it had not handed over the PCC to Lok Sabha MP Vincent Pala– he lost the assembly elections.
The Adani group and its shares have been under tremendous pressure over the last five weeks since the report from Hindenburg hit the markets. 2nd March was a great day — a big comeback of sorts for Adani. GQG Partners Emerging Markets Equity Fund invested Rs 15,500 cr approx. in four of Adani’s companies. These shares were bought from the Adani family. The price at which these shares were bought are Rs 1,408.25 for Adani Enterprises, Rs 504.60 for Adani Green Energy, Rs 596.20 for Adani Ports and SEZ, and Rs 668.40 for Adani Transmission. These prices at which the deal was done would become a benchmark for valuation going forward. In the near foreseeable future these prices would not break unless a new disaster hits the stock markets. On the same day, the Supreme Court appointed a six-member panel to look into the allegations against the group and submit a report in a sealed cover within two months. This would clear doubts raised by Hindenburg, the continuous disruption in Parliament would now stop and alleged cronyism, a charge raised by the Opposition would also be resolved. The proof of the pudding is in the eating and at the time of writing this article the share prices of three of the four stocks mentioned have gained between 11.13% to 11.32% (as they are subject to a 5% circuit filter) and the fourth has gained a staggering 29.8%.
The USI Atma Nirbhar Bharat Initiative (USI-ANBI) has given new meaning has been given to the work of the United Service Institution (USI) of India in furtherance of its avowed objective of “furtherance of knowledge in the art, science and literature in the interest of national security”. Such initiatives bring defence industry players in contact with the Services departments dealing with procurement and indigenisation. In July 2022, for example, it had a panel discussion (PD) with Aditya Birla Securities Ltd on the impact of the geopolitical situation on global and India’s financial markets, followed by one with Microsoft on cybersecurity, where the apex cybersecurity officials were brought in. Start-ups are allowed to register and asked to join when there is a round table discussion (RTD), seminar or closed-door meeting on the issue relevant to them. USI of India is a strategic think tank with a wealth of retired officials from Services, IAS, IPS and IFS, explains Major General Dr Pawan Anand, AVSM (Retd), Distinguished Fellow and Head of USI-ANBI. “It is a great brand!” he says. “We are now planning on foreign industry offerings too at our RTDs.” Obviously, India’s role on the global stage continues to grow in its presidency of the G-20 which it took over in December last year.
Fatal attack by four unidentified assailants on MNS leader Sandeep Deshpande in the busy Shivaji Park area has fuelled a bitter political war as his party colleagues have demanded arrest of Aaditya Thackeray and Sanjay Raut. The police are treading cautiously as any wrong action by any side can potentially blow up in a serious law and order problem. Known as a politically mature state once upon a time, increasing incidence of violence has become the norm in recent times. Beating up of government officials and assaults on police personnel was never heard of in older times but even that scenario is changing for worse. Alleged involvement by ministers like Jitendra Awhad or Bachchu Kadu in thrashing political opponents and conviction of some of them has been becoming frequent. The sad part is that the political parties concerned avoid taking any disciplinary action fearing electoral fallout. Deshpande, a vocal critic of the Thackeray family and a confidant of MNS chief Raj Thackeray, has been in the forefront of exposing the BMC corruption. He has vowed to continue his crusade.
Emphatically returning to power on its own in Tripura in the face of the CPM and Congress alliance, there was a story waiting to spoil BJP’s party in Bengaluru. It all seemed well planned by the Congress and its cohorts of contracts. It was too much of a coincidence that the anti-corruption wing of Lokayukta should strike on March 2 evening. Prashanth Madal, a Karnataka Administrative Service officer and the son of BJP MLA Madal Virupakshappa was caught receiving a bribe of Rs 40 lakh from a contractor who supplied raw materials for the factory. Lokayukta Police were surprised when they found over Rs 6 crore from Prashanth’s residence. Following the recoveries, his father Virupakshappa quit as chairman of Karnataka Soaps and Detergents, the manufacturer of Mysore Sandal Soap. Virupakshappa is a MLA from Channagiri in the Davanagere district. Prashanth is the chief accountant at Bangalore Water Supply & Sewerage Board. Predictably chief minister Basvaraj Bommai asserted that action against Prashant could be taken only because the BJP government had appointed Lokayukta. Politically, the Lokayukta action against the BJP in South was planned by the Congress; it was essentially to help the Congress once again revive its PayCM campaign against Bommai. The Lokayukta action was possibly scripted by contractors who are pro-Congress. Interestingly, reflecting on squabble within the Karnataka Congress, a video has gone viral where potential CM candidate Siddaramaiah is heard saying bringing people to rallies by paying Rs 500.
Sometime ago, this one did an out-of-the box innovation to reward long-time loyalist-employees. This Chennai-based high-end product engineering company distributed 100 Maruti cars to staffers who have served the company for over five years. Now, it has come out with yet another innovative idea. With tech giants such as Google, Zoom and the like dishing out pink slips, Ideas2IT has decided to play Good Samaritan. It has now launched perhaps the country’s first proprietary up-skilling program. The idea is to help tech professionals bounce back from the adversity of recession and layoffs! “Pledge2Propel”, a career enhancement initiative, is primarily intended to help tech professionals affected by the economic slowdown and layoffs. This initiative aims to provide all the support they need to re-group and pursue new opportunities by means of up-skilling or venturing into entrepreneurship while prioritizing their mental health. To be sure, this initiative does not promise or guarantee a job. Along with IdeaRX, a HealthTech start-up, Ideas2IT hopes to help the laid-off professionals to navigate the psychological and professional challenges and guide them to reach a secure terrain. “With this association, we intend to transform the lives of many tech professionals through empathy, inspiration and empowerment,” says Gayathri, CEO of Ideas2IT. This non-profit program is available for free to all affected tech professionals across the globe. A twice-blessed initiative, indeed.
Bollywood’s most successful star Akshay Kumar is experiencing failures; all his releases in the last two years have bombed badly. His latest Selfiee collected just Rs 20 cr in the first four days of its release instead of earning at least Rs 20 cr per day. Selfiee made at a cost of Rs 150 cr and shot in 40 days could perhaps be Akshay’s biggest flop of his career. Shah Rukh Khan’s Pathaan in spite of controversy collected around Rs 70 cr per day to touch Rs 509 crore in 36 days. Earlier, Kartik Aaryan’s Bhool Bhulaiyaa2 broke the Bollywood jinx by grossing over Rs 200 cr. In comparison Akshay’s figures are: Bachchhan Paandey Rs 52 cr, Samrat Prithviraj Rs 68cr, Bell Bottom Rs 32 cr and Raksha Bandhan Rs 48 cr. Says an industry insider, Akshay Kumar needs to reinvent himself. Most of his choices of subjects have been super flops. Basically, his fans are showing him the mirror. But is he looking at it? In spite of back-to-back flops, the 55-year old is not being written off by the producers. He has a couple of big projects in the pipeline — Hera Pheri 4 (promo shot), Bade Miyan Chhote Miyan with Tiger Shroff, Capsule Gill completed in the UK, a remake of Sorarai Pottaru (under production). Currently, he has taken a short break for a show in the USA with four glamorous stars. Reportedly, the New Jersey show has been cancelled.
Given the option, India chose one of the black soil varieties and got the two ends of pitch (in front of the batter) scoured to the extent it desired, and yet got the taste of its own medicine in the third Test at the Holkar Stadium, Indore. It appears that a pitch of the red soil make-up was the initial preferred choice of the home team, but people privy to what goes on between the team management and the State association said that a black soil that deters consistent bounce was ordered to be prepared four days before the start of the Test. It was on a pitch of like texture that India dictated terms in Nagpur and New Delhi, but the team that was vanquished there hit back and outplayed India in the end by nine wickets. Pitches in India have always been tinkered with to suit its spin-strength with the ultimate aim of winning the home series. The last Test will be played at Motera in Ahmedabad, where the prime ministers of the two countries will be in attendance on March 9. The pattern of the black soil pitch is likely to be pursued for yet another time in the last Test. Two years ago England lost two Test matches in five days at Motera in Ahmedabad, but Australia turned out to be a tough customer in Indore and it will be tough to beat now in the series-ending match in Ahmedabad.
The DMK+ alliance won the bypoll to the Erode East with a whopping margin of 66,000 seats. Having played it safe by asking the senior Congress leader EVKS Elangovan to stand rather than let one of his sons do, the importance of winning had been anticipated by DMK. The verdict also settles the question of which is the Opposition party that can get the closest to the DMK and that is Edappadi K Palaniswami’s AIADMK. The result was a foregone conclusion but what it does is it adds to the stature of Tamil Nadu Chief Minister M.K. Stalin as a definitive national figure in any post-2024 Lok Sabha polls scenario. A man who can guarantee close to 40 seats for the combined opposition hoping to down the BJP on a national scale, the numbers assume great significance. And Stalin also presented the sanest view that it was more important to defeat the BJP than haggle over who can be Prime Minister in the unlikely but possible scenario of the combined opposition claiming the numbers. Given the sentiment of the occasion of Stalin’s 70th birthday, a gushing Farooq Abdullah tried to present Stalin as a PM candidate. Stalin brushed that aside while calling for unity in the Opposition ranks when just over a year remains for the crucial 2024 Lok Sabha polls.
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.