Author: Sreelatha M

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Jio Financial falls 4% after weak Q4 profit

Shares of Jio Financial Services fell nearly 4% on April 20 after the company reported weaker fourth-quarter earnings. The stock dropped to an intraday low of ₹234.50 before recovering slightly.

The company posted a consolidated net profit of ₹272 crore for the March quarter, down around 14% from ₹316 crore a year earlier. The decline in profit came mainly due to higher expenses and lower treasury income.

Despite the fall in earnings, revenue showed strong growth. Total income rose to ₹1,020 crore, almost double from ₹518 crore in the same quarter last year. However, total expenses also increased sharply as the company continued investing in business expansion.

For the full financial year FY26, Jio Financial reported a net profit of ₹1,561 crore, slightly lower than the previous year.

The company’s lending business continued to grow strongly. Assets under management (AUM) increased 35% quarter-on-quarter to ₹25,700 crore. Its customer base also expanded to 23 million users.

Jio Financial’s asset management joint venture with BlackRock also saw steady traction, with average assets under management reaching ₹16,700 crore.

The board has recommended a final dividend of ₹0.60 per share for FY26.

Brokerage firm Jefferies remained positive on the company’s long-term prospects, saying Jio Financial is steadily building its financial services platform. Analysts believe short-term profit pressure may continue, but growth in lending, payments, insurance, and wealth management could support future earnings.

Also Read: Gold drops to ₹1.53 lakh, Silver slides ₹2,300/kg

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Beyond

Gold drops to ₹1.53 lakh, Silver slides ₹2,300/kg

Gold and silver prices declined in India on April 21, 2026, reflecting weakness in global bullion markets and reduced safe-haven demand.

Gold prices fell to around ₹1,53,000 per 10 grams in the Indian market, marking a slight decline from recent highs. Silver also weakened, dropping by approximately ₹2,300 per kilogram, indicating continued volatility in precious metals trading.

The decline in domestic prices mirrors international trends, where both metals came under pressure due to a stronger US dollar and easing geopolitical concerns. Investors are closely watching developments around US–Iran discussions, which have reduced demand for traditional safe-haven assets like gold and silver.

Analysts say recent profit-taking has also contributed to the fall, as bullion had previously seen a strong rally. With prices near record levels in recent weeks, many traders opted to lock in gains, adding further downward pressure.

In global markets, gold slipped below the $4,800 per ounce mark, while silver also recorded losses. This international movement directly influenced Indian spot and futures prices, given India’s dependence on imported bullion rates.

Despite the current dip, market experts believe the outlook remains mixed. Ongoing inflation concerns, central bank gold purchases, and industrial demand for silver continue to provide underlying support. However, near-term movements are expected to remain volatile, driven by macroeconomic data and geopolitical updates.

Traders are advised to monitor key global indicators, especially US dollar strength, interest rate expectations, and developments in Middle East diplomacy, as these will likely determine the next major price direction for precious metals.

Also Read: Sensex rises over 600 points, Nifty crosses 24,500

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Corporate

Sensex rises over 600 points, Nifty crosses 24,500

Indian stock markets  on April 21, 2026, opened as the Sensex surged by over 600 points, while the Nifty reclaimed and held above the 24,500 mark during the session, reflecting broad-based buying across key sectors.

Financial stocks led the rally throughout the trading session. Heavyweight private banks such as ICICI Bank witnessed strong buying interest following steady quarterly performance, while other banking and financial services counters also gained momentum. The IT sector added further strength, with stocks like Infosys and HCL Technologies attracting investor attention amid expectations of stable global demand. Adani Pofrts shares saw considerable rise in the values.

The broader market also saw support from energy and large-cap stocks, with Reliance Industries contributing to the upward move. Positive cues from global markets and a stable opening indicated by GIFT Nifty set the tone for the day’s rally.

Oil prices remained elevated but relatively stable, easing fears of sharp inflationary pressures in the near term. Currency movements and global bond yields were also monitored closely by investors, though they did not significantly disrupt market momentum.

Also Read: India’s crude imports fall 17% amid Hormuz crisis

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Leaders

Ashish Sharma named CEO of GMR’s EdTech venture

GMR Group has appointed Ashish Sharma as the Chief Executive Officer of its EdTech venture, marking a fresh push by the infrastructure major into the education and skilling space. Sharma will lead the company’s efforts to build training programmes and learning platforms designed to prepare students and professionals for industry jobs.

The appointment comes at a time when demand for skilled talent is rising rapidly across sectors such as aviation, logistics, engineering and technology. With India expanding its infrastructure and airport network, companies are increasingly looking for trained professionals who can step into specialised roles.

Before joining GMR, Sharma held senior leadership roles in the EdTech sector. He was associated with PhysicsWallah’s PW Skills division, where he worked on expanding programmes focused on employability, upskilling and professional growth. His experience in helping learners build job-ready skills is expected to play a key role in GMR’s new venture.

He has also worked with companies such as upGrad, Paytm Mall and Amazon, giving him experience across education, digital business, operations and growth strategy. Industry observers say this mix of experience makes him a strong choice to lead an education business that aims to combine technology with practical training.

GMR Group is best known for its airports, energy and infrastructure businesses. The company’s entry into EdTech is seen as a strategic move to create a talent pipeline for industries where skill shortages are becoming a challenge. Aviation is expected to be one of the biggest focus areas.

Also Read: Andhra Pradesh to start India’s first private gold mine

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Corporate

IEX shares fall 8% after CERC draft proposal

Shares of Indian Energy Exchange (IEX) fell sharply on Monday, dropping around 8% after a draft proposal from the Central Electricity Regulatory Commission (CERC) unsettled investors. The stock came under strong selling pressure as the new proposal raised concerns about changes in how electricity prices may be determined in the future.

The market reaction followed CERC’s draft rules on “market coupling,” a system aimed at creating a single price discovery mechanism across multiple power exchanges. If implemented, bids from different exchanges would be pooled together and a common market-clearing price would be decided centrally.

At present, exchanges such as IEX run their own platforms where electricity prices are discovered based on supply and demand. This model has helped IEX emerge as the dominant player in India’s power trading market over the years. Investors now fear that a common pricing system could reduce the company’s competitive edge.

IEX has built its strength through high liquidity, strong market share and a large user base. Analysts believe these advantages may become less valuable if all exchanges operate under a central pricing framework. That could impact trading volumes, pricing power and future earnings growth.

The Day-Ahead Market, one of IEX’s most important business segments, is seen as particularly vulnerable if market coupling is introduced there first. Since this segment contributes significantly to the company’s revenue, any changes could directly affect investor sentiment.

Despite the sharp sell-off, experts noted that the proposal is still in the draft stage and not yet final. CERC has invited comments from stakeholders before taking a final decision, which means the framework could still undergo changes after consultations.

Some market observers also pointed out that India’s power market continues to expand due to rising electricity demand, renewable energy growth and increased industrial consumption. This means IEX may still have growth opportunities even if competition increases.

Also Read: Andhra Pradesh to start India’s first private gold mine

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Beyond

US extends waiver on Russian oil shipments

The United States has extended a short-term sanctions waiver allowing countries to continue purchasing Russian oil that was already loaded onto ships before the cutoff date, a move aimed at preventing disruption in global energy markets.

According to officials, the waiver applies only to crude oil and petroleum products that were already in transit as of April 17, 2026. These shipments will now be allowed to be delivered and completed under a temporary authorisation that runs until May 16.

The decision effectively replaces an earlier waiver that had expired earlier this month. It comes after a period of uncertainty in global oil trade, with governments and refiners closely watching how sanctions on Russia could impact supply chains and fuel prices.

US authorities clarified that the exemption is narrowly defined and does not permit new transactions or fresh purchases of Russian oil. It is limited strictly to cargoes already loaded and moving through international waters.

The waiver is also designed to avoid sudden shocks in the oil market. Officials argue that blocking shipments already in transit could disrupt contracts, create logistical bottlenecks, and further tighten global supply at a sensitive time for energy markets.

The move follows broader fluctuations in global oil prices driven by geopolitical tensions and supply concerns. Recent volatility has already led to temporary measures aimed at stabilising energy flows and preventing sharp price spikes.

At the same time, the decision has drawn criticism from some quarters, with opponents arguing that it may indirectly ease pressure on Russia’s export revenues. However, US officials maintain that the measure does not significantly benefit Russia, as it applies only to oil that has already been extracted, sold, and shipped.

Countries that rely heavily on imported crude, including several major Asian economies, are expected to benefit from the continued arrival of these shipments, ensuring short-term supply stability.

Also Read: Apple boosts recycled material use

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Leaders

Gautam Adani becomes Asia’s richest

Business tycoon Gautam Adani has overtaken fellow billionaire Mukesh Ambani to become Asia’s richest person, according to the latest Bloomberg Billionaires Index.

Adani’s net worth is estimated at around $92.6 billion, placing him ahead of Ambani, whose wealth is reported at about $90.8 billion. The shift also places both Indian industrialists among the top ranks of global billionaires.

The change at the top is mainly driven by a sharp rally in shares of Adani Group companies, which span infrastructure, energy, ports, airports and logistics. The surge in market value of these listed firms has significantly boosted Adani’s personal wealth in a short span of time.

Ambani, who leads Reliance Industries, continues to have a strong presence across energy, telecom and retail sectors, but recent fluctuations in stock performance have slightly reduced his net worth in comparison to Adani’s rapid gains.

According to market trackers, the rankings of global billionaires are highly sensitive to stock movements, meaning positions can change quickly based on daily trading trends. Both Adani and Ambani have frequently swapped positions in recent years as market conditions shift.

Globally, the top spot remains with Elon Musk, who continues to lead the billionaire rankings by a wide margin, while several other technology and retail magnates occupy the upper positions.

The latest reshuffle highlights the growing influence of infrastructure and energy-linked businesses in wealth creation, especially in emerging markets like India. It also reflects how closely tied billionaire rankings are to stock market performance rather than fixed assets.

While the difference between the two Indian business leaders remains relatively small, the symbolic shift underscores the intense competition between two of the country’s largest corporate groups, both of which play a major role in shaping India’s economic landscape.

Also Read: Reed Hastings to step down from Netflix

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Corporate

HDFC Life Q4 profit up 4%, announces ₹2.10 dividend

HDFC Life Insurance reported a steady performance for the March quarter, posting a 4% rise in net profit and announcing a final dividend of ₹2.10 per share for FY26.

The company reported a standalone net profit of ₹495.65 crore in the fourth quarter, compared with ₹476.54 crore in the same period last year. The growth was supported by higher premium collections and continued demand for insurance products.

Net premium income during the quarter rose to ₹25,829 crore, up from ₹23,765 crore a year ago. The increase reflects healthy renewal premiums and steady business momentum across key product categories.

The board has recommended a final dividend of ₹2.10 per equity share, subject to shareholder approval at the annual general meeting. The record date for the dividend has been fixed for June, with payment expected in July.

HDFC Life also reported healthy growth in new business during the year. Its Annualised Premium Equivalent (APE), a key measure used in the insurance industry, rose 8% year-on-year for FY26.

The company’s Value of New Business (VNB), which indicates profitability from new policies sold, stood at ₹4,034 crore, while margins remained stable at 24.2%.

One of the strongest areas of growth was the retail protection segment, which expanded 43% during FY26. This segment includes products designed to provide financial security to families in case of unforeseen events.

Assets under management, including the pension business, stood at around ₹5.3 trillion, reflecting the company’s large and growing customer base.

Management said the company continued to perform strongly across important segments and maintained its position among India’s leading private life insurers.

Strong premium inflows, rising protection demand, and healthy margins are seen as positives for the company.

Going forward, investors will watch how HDFC Life sustains growth in new business, expands distribution, and manages margins amid changing customer preferences.

Also Read: Japan announces $10 bn Asia oil aid

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Beyond

Japan announces $10 bn Asia oil aid

Japan has announced a $10 billion financial support package to help Asian countries deal with rising energy costs and growing concerns over oil supply disruptions.

The aid is expected to assist countries across Asia, especially in Southeast Asia, in securing stable access to crude oil, fuel supplies, and other energy needs. The move comes as many economies in the region face higher import costs due to elevated global crude prices and ongoing geopolitical tensions affecting supply chains.

Japanese officials said the package is designed to strengthen regional energy security and reduce the economic impact of volatile oil markets. Many Asian nations depend heavily on imported fuel, making them vulnerable to sudden price spikes and disruptions in shipping routes.

Global oil markets have remained uncertain in recent months, with prices staying firm amid tensions in the Middle East and concerns over major trade routes. Rising fuel prices have increased pressure on inflation, transport expenses, and government spending across importing countries.

Japan, itself a major energy importer, has long played an important role in promoting economic stability in Asia through financing and development partnerships. Analysts believe the new package could help neighbouring nations build emergency reserves, secure long-term supply deals, and manage short-term price shocks.

Experts said Southeast Asian countries are likely to benefit the most, as many remain highly exposed to swings in global oil prices while domestic demand for fuel continues to grow. The financial support may also help ease pressure on local currencies and national budgets.

Also Read: Gucci-owner to launch AI smart glasses with Google

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Beyond

Gold rises to ₹1,55,580, Silver slips to ₹2,69,900

Gold and silver prices in India witnessed mixed movement on Friday, reflecting volatile trends in global commodity markets and shifting investor sentiment driven by geopolitical developments and currency movements.

According to market updates, gold prices continued their upward bias, supported by renewed safe-haven demand. Investors turned towards the yellow metal amid ongoing uncertainty linked to global geopolitical tensions, particularly expectations around easing US–Iran friction. This has kept inflation and interest-rate expectations in focus, indirectly supporting gold.

In domestic markets, gold prices on the Multi Commodity Exchange (MCX) traded higher, with the metal holding firm near recent elevated levels. Analysts said the firmness in gold is also being supported by a softer US dollar and stable international cues, which have made bullion more attractive for global investors.

In contrast, silver prices witnessed a decline, with the white metal slipping from recent highs due to profit booking. Traders also pointed to uneven industrial demand outlook as a key factor weighing on silver, which has a stronger link to manufacturing and electronics demand compared to gold.

Market experts noted that silver tends to be more volatile than gold, and recent price swings reflect this sensitivity. While long-term fundamentals remain supportive due to green energy and industrial usage, short-term corrections are being seen after sharp recent gains.

In India, retail bullion rates also showed city-wise variation, with 24K and 22K gold prices differing across major centres like Delhi, Mumbai, Chennai, and others. Silver rates similarly moved in line with MCX trends, remaining under pressure in some markets.

Analysts expect continued volatility in precious metals in the near term as traders closely monitor global inflation data, central bank policy signals, and geopolitical developments. However, gold is expected to remain supported on dips, while silver may continue to see sharper swings due to its dual nature as both a precious and industrial metal.

Also Read: Sensex rises over 250 points, Nifty climbs above 24,250