Buzz: Rich desis buy ‘poor man’s Tesla’ shares



ET’s weekly roundup of their wackiest whispers and murmurs in corporate corridors & policy parlours:Hello GoodbyeThis bulge-bracket US private equity firm was a revolving door for quite a while. When we thought stability was eventually returning, using a brand new senior employ from an rival blue-blooded group, word is in that a McKinsey suit-turned-long-serving director has also put in his papers after spending 14 years with the firm, slightly fed up with all the sharp elbows at the office. Considering that the firm is on a investment blitz in the nation, a continuous ship is vital, one could have thought.Big DealWell, better late than not. Following weeks, a few months, of negotiations, Tata manager N Chandrasekaran finally clinched the much-awaited BigBasket purchase that weekend we all hear, having a bargain registering. Great timing, one can argue, thinking about the news from Europe was grim as Swedish bunch SSAB walked from negotiations to buy Tata Steel’s Dutch enterprise. The fantasies of the super program only came a click closer.Quintessentially YoursA Wimbledon box seat is a slice of cake as is a hour-long consultation with Yohji Yamamoto or Nadège VanheeCybulski herself. You need Heston Blumenthal to cook supper for you or better still possess the Fat Duck team to fly to your villa and cook for a private dinner? Consider it done. No request is too complex or too expensive if you’ve got the ideal luxury concierge service available. Rich desi billionaires too need to get members of this elite set to guarantee the proverbial backstage pass to the trendiest dos and hippest happenings around the world. Nevertheless, the first family of India Inc doesn’t even like to participate in any golf club. They’d rather poach the best expat gift from these firms because of their private service. Now we all know who organised the long European sojourn last year! Cross ConnectionTelcos, tower companies and customer institutions are thought to have received subtle signals to downplay the effects of the farmers’ agitation on infrastructure. Especially after the new Republic Day protests, when agitating farmers stormed the Red Fort. “Sentiments appear to be veering from the protesters and their backers and no one would like to scale up the situation anymore, about damage caused by towers or impact on mobile coverage as the entire issue has turned into a hot potato,” stated a senior industry executive. This is one cross-connection that the industry appears to be attempting to avoid.Alt TeslaSeveral wealthy Indians who overlooked on the Tesla share rally are now accumulating this Chinese electrical carmaker’s inventory because of FOMO — fear of falling out. Many Indians didn’t even dare to touch the Elon Musk company stock even a year ago, believing it wasn’t even rewarding. But now, seeing the leading rise in its own stocks, they are happy to purchase into NIO. A major broker said the stock has been touted as the lsquo;poor guy ’s Tesla’ at several Gujarat-based market chat groups. While a single talk of Tesla would charge about $800, NIO is only $59. Some of those enthusiastic investors have even used political belief, arguing that Indians must possess more shares in Chinese companies and restrain them.

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