Brokerages under FOMO
Until recently, brokerages in India had refrained from tracking or making investment bets on most of Adani Group shares for their concerns on low public holding especially retail participation in Adani stocks.
But since last week, a flood of investment advisories and analysis about Adani’s soundness started pouring in. Just about six months ago, there were hardly any major brokerages tracking Adani Group stocks, but now there are at least half-a-dozen brokerage reports floating around explaining the Adani-Hindenburg saga and what the investors should do. Do the brokerages too suffer from FOMO?
Playing the victim card
In the Adani versus Hindenburg Research saga, the narrative being played is Indian victimhood card by showing the unjust advantage being taken by the US-based short-seller activist Hindenburg Research after releasing a negative report on Adani.
What validates this theory is the last week’s Adani Group CFO Jugeshinder Singh’s video address clarifying on the Hindenburg report. The Group explicitly used the Indian national flag in the backdrop during Singh’s address that was widely shared on social media drawing attention to a foreign entity tarnishing the image of an Indian corporate!
Adani in a Catch 22!
After Gautam Adani-led Adani Group threatened Hindenburg Research of legal action, the US-based short-seller countered with its readiness to be challenged in a court of law in the US. However, market observers believe that Adani may not approach a US court as such a move would backfire, forcing them to reveal much more than they would want. And if it doesn’t challenge Hindenburg’s allegations, there would be many others taking shots at Adani. A Catch 22 situation for Adani!
Art or Science or …
You may all be familiar with the famous question on whether accounting is an art or a science.
So when TN Manoharan, former ICAI President and author of the book on Satyam turnaround saga —The Tech Phoenix — recently got to reflect on this at an event to launch his book, he quipped: “All along I understood accounting as an art and a science, but after the Satyam saga I realised it could even be “fiction”!
Women behind wheels
Driving lorries has hitherto been considered as a male bastion. But Kerala has been a trendsetter, where women have taken to the vocation in a big way.
The Kottayam-based Kerala Lorry Owners’ Welfare Association’s has decided to train around 50,000 women in order to address drivers’ shortage.
Association members are of the view that women drivers are reliable, behaviourally and professionally. As per estimates, Kerala requires 50,000 people to steer over 1.5 lakh large cargo carriers plying across the State.
The intention of the association is to train 100 women initially, who will train others. The aim is to equip 10,000 women in two years.