Dividend Buzz, Hunt for new SEBI Chief & Dollar Index Surge
Your daily dose of business news
🗞️ Dividend Stocks in Focus: Wipro, Tips Music, and More
Dividend announcements and stock splits from companies like Wipro and Tips Music are set to draw attention. Other key stocks to watch include Indian Energy Exchange (IEX) and Godrej Properties, with market dynamics likely to drive interest.
Expert Opinion: Market analyst Rakesh Singh says dividend-paying stocks remain attractive amid market volatility.
🗞️ Microfinance Stocks Bleed After CreditAccess Grameen’s Weak Q3
CreditAccess Grameen shares tumbled 18% following a poor Q3 performance, dragging down other microfinance institution (MFI) stocks like Spandana Sphoorty and Fusion Finance.
Expert Opinion: Financial strategist Deepa Gupta highlights weakening asset quality as a concern for the MFI sector.
🗞️ Indian Rupee Falls as Dollar Index Surges
The Indian rupee opened 15 paise lower at 83.10 against the US dollar, driven by a stronger dollar index.
Expert Opinion: Forex trader Arjun Mehta notes that strong US economic data is keeping the dollar buoyant against emerging market currencies.
🗞️ Suzlon Energy: Retail Investors Up Stakes, FPIs Step Back
Suzlon Energy’s stock price has fallen from its peak despite increased retail participation. Meanwhile, foreign portfolio investors (FPIs) have reduced their stakes.
Expert Opinion: Analyst Priya Nair emphasizes that Suzlon’s recent order wins could boost its long-term growth outlook despite near-term corrections.
🗞️ IDFC First Bank Hits 21-Month Low
IDFC First Bank shares plunged 7% after its microfinance segment weighed on Q3 profits, hitting a 21-month low.
Expert Opinion: Banking sector analyst Ankit Jain cites rising NPAs in the microfinance segment as a significant challenge.
🗞️ Finance Ministry Seeks New Market Regulator Chief
The Finance Ministry has advertised for a new SEBI chief as the tenure of the current regulator nears its end.
Expert Opinion: Governance expert Shalini Deshmukh underlines the importance of appointing a visionary leader to navigate India’s evolving markets.
🗞️ Sridhar Vembu Steps Down as Zoho CEO
Sridhar Vembu, co-founder of Zoho, has stepped down as CEO to take on the role of Chief Scientist, focusing on innovation.
Expert Opinion: Tech expert Ravi Narayan calls this a strategic move to leverage Vembu’s expertise in driving cutting-edge developments.
🗞️ Coal India Declares Second Interim Dividend
Post its Q3 results, Coal India announced a second interim dividend of ₹5.25 per share.
Expert Opinion: Energy market analyst Neha Sharma views this as a strong signal of Coal India’s robust financial health.
🗞️ Market Updates: Key Indices & Commodity Rates
Sensex: Closed at 77,120.40, down by 45.20 points (-0.06%)
Nifty 50: Settled at 23,495.90, decreasing by 35.15 points (-0.15%)
Gold Rates: ₹8,180 per gram for 24-carat (↑₹30)
Silver Rates: ₹99,150 per kg (↑₹100)