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Are Biz Tycoons Jumping Covid Vaccine Queues?
The hottest topic being discussed by business tycoons these days is not the Union Budget but the Which, When, Where (and maybe even, if) and How to get the Covid-19 vaccine. Before India rolled out its own versions, some wealthy individuals were rumoured to have rushed overseas (read: Dubai) to get their shot. Now there are whispers about certain famous people making private arrangements to get the vaccine out of turn. Because, as per the Government diktat, in the current phase, the vaccine is being made available only to the frontline healthcare workers. Such clandestine shots may give them immunity but without the all-important vaccine certificate. They are confident, however, of procuring one with some jugaad in due course. One person who won’t have to resort to any such subterfuge is Dr Swati Piramal, vice chairperson, Piramal Enterprises. The wife of billionaire Ajay Piramal, who is a qualified doctor, recently got her Covid-19 shot at the BKC jumbo vaccination center in Mumbai, along with staff of the Gopikrishna Memorial Hospital. Piramal took the Covishield vaccine made by the Serum Institute of India and promptly posted photos of the said deed on Facebook.
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Insider Trading: Beware Of Rules
Legendary investor Warren Buffett said: “Unless you can watch your stock holding decline by 50% without becoming panic-stricken, you should not be in the stock market.” The stock market is not for the weak-hearted – nor for Inside Trading. An NSDL campaign is creating awareness among the retail investors not to fall prey to the Insider Trading. If you are an equity investor, chances are that at some point in time you would have been offered an ‘insider tip’ to conduct a trade in a particular stock to make quick money. If the tip turns out to be false, you could end up losing money. If the Tip turns out to be true, although you might make quick money, it could land you in legal trouble. Insider trading is a punishable offence, as per the SEBI. The BSE, the NSE, and the SEBI keep routinely tom-tomming about such instructions – and yet the greedy investors keep falling prey to such Tip messages.  Looks like investors seem to blindly follow the investment philosophy of Gordon Gekko in the movie Wall Street, “Greed, for lack of a better word is good.” And we know where insider trading and greed got Gekko and his ilk.
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LIC: The Much Awaited IPO
With the stock market booming and indices touching lifetime highs, the investor’s appetite seem to be growing even bigger. Many are keenly awaiting the IPO of the state-run Life Insurance Corporation Of India. Set up in 1956, the LIC is the jewel in the government’s crown. The state insurer has smartly competed with 23-odd private sector players to command a market share of 70.21%.  With assets over Rs 31.96 lakh crore, the LIC manages 28.92 million customers through a network of 12,08,826 agents and 144,498 employees. Such impressive numbers have made the government plan a mega IPO in 2021. The government hopes to raise around Rs 70,000-100,000 crore by diluting a 10% stake. Based on this figure, the valuation of the LIC works out to around Rs 13-15 lakh crore. Experts say that the IPO could attract a large number of retail and institutional investors. The IPO dates are not finalized neither has the Red Herring prospectus been filed with the SEBI. Reportedly, Edelweiss Financial Services and Deloitte have been appointed as pre-IPO advisors. Now, the Finance Minister Nirmala Sitharaman in her Budget Speech has indicated that LIC IPO could hit the market in FY21-22. The good news for LIC policyholders is that up to 10 per cent of IPO may be offered to them.
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Max To Vi: Names Changes For The Sixth Time
The country’s telecom sector has gone through cataclysmic change. From about two dozen players, it is now reduced to three telecom service providers. Falling average revenues per user or ARPUs — and now the payment of Adjusted Gross Revenue (AGR) to the government — has broken the back of the debt-laden service providers. Vodaphone, which is facing a bigger impact, has been looking for strategic alliance and name of Verizon International has cropped up. Meanwhile,  Vodaphone-Idea has gone for another name change — sixth time in the last 25 years, in line with change in ownership pattern. It started with Max (promoted by Analjit Singh) then became Orange, and then followed by Hutch, Vodaphone and finally, after merger with Idea –Vodaphone-Idea. Now, this consolidated name has a new, abbreviated identity – Vi.  People are reading between the lines about the new abbreviated name. Watch this space for more development.
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Why PMC Bank Not Being Bailed Out?
The speed and alacrity with which Satyam Computer, the brainchild of Ramalinga Raju; YES Bank, promoted by Rana Kapoor; and Lakshmi Vilas Bank (LVB) were bailed out by the Union government seems to have surprised everyone. No government since Independence has moved at this sort of lightning speed to resolve such tricky, tortuous issues. Seeing the government’s bailout overdrive, especially in relation to YES Bank and LVB, some of the Opposition parties attributed motives, saying it was shielding people aligned to the government. Be that as it may, the government’s move has certainly given succour to the aggrieved depositors of both the banks.  And it is this kind of relief that the shattered depositors of PMC Bank have been clamouring for since the news of the Rs 4,300-crore money laundering scam hit the bank. The angry depositors of PMC Bank staged dharna in front of the RBI, dashed off letter to the finance minister Nirmala Sitharaman. But of no avail.  Seeing depositor’s hapless state, Republic TV ran a high decibel campaign. Republic TV revealed that a letter was written on January 28, 2011 by Manpreet Kaur to the then Chief General Manager in-charge, Urban Banks Department, RBI about bank’s misdoings way back in 2011.  There is hope for depositors as there are many suitors eager to take over this bank.
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Harshad Mehta: Short-Lived Bull Run
The late Big Bull Harshad Mehta was in the news. This time for reel life – a movie The Big Bull starring Abhishek Bachchan and The Scam 1992 : The Harshad Mehta Story and  A 10-episode series, based on a book, sketches his dramatic rise and tragic fall. The brain behind the 1992 Securities Scam, Mehta never displayed emotions openly. He was always smiling and had a swagger. He greeted people with Jai Shri Krishna, an usual greeting among the Gujaratis.  Like the movie Sholay a lot of his one liners have become immortal.  He once told a few journalists after being caught: “Badnam hua tho kya hua, naam tho howa! His another famous line was: “India is a turnaround scrip.” True to his words, the Sensex in 1992 zoomed from 1,000 points to 4,546. The Big Bull was yoked and jailed in 1992. But after his release from the jail, his fan following did not dwindle; in fact it increased. A huge crowd was seen waiting for him at a book launch at a Crossword book store in south Mumbai that he attended. Many took his autographs. Out of jail he was back punting on scrips like BPL, Videocon and Sterlite. Interestingly, he wrote Guest Column for The Financial Express and had plans to launch a TV channel called Money Television. But a story in Business Standard in 1996 scuttled his IPO plans for the proposed TV channel.  In the end, despite amassing huge wealth, he died in a Thane jail. He got a massive heart attack. It was a short lived bull-run. ends

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Editor’s Note: Short Post Noticed By People Who Matter

Four years have zipped by and we are crossing another milestone on 31st January 2025 – it’s our 4th Anniversary. It feels good.
Looking back at the 1460 days, I must say Short Post has made its mark with people who matter via 4000 stories published in the areas of politics, business, entertainment and sports. All made possible by the unflinching commitment and dedication of our senior editors, most of whom have been part of this journey from Day One.
Small pack, big impact is in essence the story of Short Post which was launched at the height of the Covid-19 pandemic in 2021. It shows our conviction. In all humility, I can say, we have created a new niche in the news segment space like Hindustan Unilever which created a new segment, when it launched CloseUp Gel.
Yes, we have created a brand (in a limited sense), created demand (readers) and created supply (senior journalists). But we are facing teething problems like all start-ups. What makes us happy and confident is the recognition of our efforts. For instance, we have an arrangement with the OPEN Magazine, part of the $4.5 billion Kolkata-based Sanjiv Goenka-RPG Group. This arrangement sees around 10 Short Post stories posted on OPEN Magazine website every week. This arrangement is testimony that our content has been well received! Also, I may add that the Maharashtra government has recognised Short Post and has allowed our senior editor to cover the Assembly sessions. Ditto: Odisha.
Our goal is to ensure that Short Post becomes a habit. I would like people to keep checking their smartphones to know the latest Authentic Gossip. As regards AI and the fear of it disrupting all businesses including media. On that, personally, I have no such fear as I am confident AI cannot smell news particularly Authentic Gossip. That’s the place we are well entrenched.