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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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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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Andhra Pradesh to start India’s first private gold mine

India is preparing for a major development in its mining sector as the Jonnagiri gold project in Andhra Pradesh gets ready to begin operations next month. Located in Kurnool district, the mine is being seen as the country’s first major private gold mining project in decades.

The launch is significant because India is one of the world’s largest consumers of gold but depends heavily on imports to meet demand. Every year, the country imports large quantities of gold for jewellery, investment and industrial use. The Jonnagiri project is expected to help improve domestic production and reduce some reliance on overseas supplies over time.

The mine has been developed by private companies with an investment of around ₹400 crore. Industry officials say the project uses modern mining and ore-processing technology and has gone through several years of exploration, approvals and development before reaching the production stage.

The mining area is spread across villages in Kurnool district and is believed to contain sizeable gold resources. Initial estimates suggest the project could produce around 1,000 kilograms of refined gold annually once operations reach full capacity. The mine is expected to remain operational for many years.

Apart from boosting gold output, the project is also expected to generate employment and economic activity in the surrounding region. Local workers may benefit from jobs linked to mining, transport, processing and support services. Infrastructure development in nearby areas could also improve as industrial activity increases.

Experts say the mine is important not only for Andhra Pradesh but for India’s larger mining ambitions. Domestic gold production has remained limited for years, especially after the decline of historic mining centres such as Kolar Gold Fields in Karnataka. The new project could signal renewed interest in exploring and developing India’s mineral resources.

While the mine alone will not dramatically cut India’s gold imports, it is seen as a positive beginning. If successful, it may encourage more private investment in exploration and responsible mining projects across the country.

Officials are expected to formally inaugurate the project once final clearances and trial runs are completed. With gold prices remaining high and demand staying strong, the timing of the launch is being viewed as favourable.

Also Read: Akshaya Tritiya gold buying slows by 30%

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Akshaya Tritiya gold buying slows by 30%

Akshaya Tritiya, one of India’s most important occasions for buying gold, witnessed softer demand this year as record-high prices made jewellery purchases costlier for families. Jewellers across the country reported a noticeable drop in volumes, with industry estimates suggesting demand fell by nearly 30% compared to last year.

Even though fewer people bought gold in larger quantities, many customers still visited stores to maintain the tradition of making a purchase on the auspicious day. Instead of heavy ornaments and bridal sets, buyers chose rings, earrings, pendants, coins and lightweight jewellery that better suited their budgets.

Gold prices have surged sharply over the past year, making it difficult for many middle-class households to buy as much as they usually would during the festival. As a result, symbolic purchases became more common, with customers preferring smaller items rather than postponing the tradition completely.

Jewellers said footfall remained healthy in many cities, but average billing patterns changed. Shoppers were more cautious, comparing designs and prices before making decisions. Many also exchanged old jewellery for new pieces to reduce costs.

In Chennai and other southern markets, demand remained relatively steady but buyers were clearly price-sensitive. Some traders also pointed to election-season concerns, saying customers were cautious about carrying large amounts of cash or expensive purchases due to increased monitoring and seizure fears.

At the same time, younger customers showed growing interest in digital gold and other modern investment options. Instead of buying physical jewellery, some investors preferred small-ticket digital purchases that can be accumulated over time. Silver coins and ornaments also attracted attention as a lower-cost alternative.

Despite lower volumes, the total value of festive sales remained strong because gold prices are near historic highs. Industry estimates suggested combined gold and silver trade during Akshaya Tritiya could still remain robust, supported by the high value of each purchase.

Also Read: Gold at ₹1,55,770, Silver at ₹2,74,900 after early dip

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Gold at ₹1,55,770, Silver at ₹2,74,900 after early dip

Gold and silver prices edged lower in the domestic market on Monday, giving slight relief to buyers after recent sharp movements in precious metals. The price of 24-carat gold fell by ₹10 to ₹1,55,770 per 10 grams, while silver dropped ₹100 to ₹2,74,900 per kilogram.

The price of 22-carat gold also declined by ₹10, with 10 grams trading at ₹1,42,790 in major cities. In Delhi, 24-carat gold was priced slightly higher at ₹1,55,920, while 22-carat gold stood at ₹1,42,940. Prices in Mumbai and Kolkata remained close to the national average, while Chennai continued to trade at a premium.

The fall in domestic prices followed weakness in international bullion markets. Global gold rates slipped as the US dollar strengthened, making gold more expensive for overseas buyers. A stronger dollar often puts pressure on gold prices because the metal is traded internationally in the US currency.

Investors also remained cautious due to ongoing geopolitical tensions and uncertainty in global markets. Concerns over inflation, interest rates and international conflicts continue to influence the movement of safe-haven assets such as gold.

Market experts said gold is facing mixed signals. On one hand, higher bond yields and a stronger dollar reduce its appeal because gold does not generate interest income. On the other hand, global uncertainty and inflation worries continue to support demand for the yellow metal.

Silver prices also moved lower in line with gold. Besides being a precious metal, silver is widely used in industrial sectors such as electronics, solar panels and manufacturing. Because of this, silver prices often react to both investment demand and economic growth expectations.

In India, jewellery demand has remained moderate as many consumers are delaying purchases due to high prices. Buyers are waiting for a bigger correction before making festive or wedding-related purchases. However, investment demand through bullion and digital gold products has remained steady.

Also Read: Sensex gains 300+ points, Nifty crosses 24,400

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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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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.

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Rupee rises to 92.86 against US dollar

The Indian rupee strengthened in early trade on Friday, gaining around 25–28 paise to touch 92.86 against the US dollar, as supportive measures from the Reserve Bank of India (RBI) helped ease demand pressure in the foreign exchange market.

The gain came after the RBI reportedly introduced a special dollar access window for state-run oil marketing companies. Instead of directly buying dollars from the spot market, firms like Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum can now source foreign currency through a structured credit arrangement. This is aimed at reducing sudden spikes in dollar demand.

Traders said this step helped calm sentiment in the currency market by lowering immediate pressure from one of the biggest sources of dollar buying in India. As a result, the rupee opened stronger and held onto gains in early deals.

Sentiment was also mildly supported by stable domestic equity markets and slightly improved global risk appetite. However, gains were limited as the US dollar remained firm globally, keeping emerging market currencies under some pressure.

Market participants noted that the RBI’s move is not about fixing a level for the rupee, but about reducing volatility and ensuring smoother forex market functioning. By spreading out dollar demand, the central bank aims to prevent sharp swings in the currency.

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

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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

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IMF cuts global growth, India holds at 6.5%

The International Monetary Fund (IMF) has lowered its global growth forecast for 2026, while keeping India’s outlook steady at 6.5%, highlighting the country’s resilience in a slowing world economy.

In its latest update, the IMF cut global growth projections to around 3.1%, citing rising geopolitical tensions, especially in West Asia, and higher oil prices impacting economies worldwide. The report also warned that growth could weaken further if conflicts intensify or energy prices remain elevated.

Despite these challenges, India continues to stand out. The IMF expects the country to maintain strong growth, driven by robust domestic demand, steady consumption, and ongoing investment activity. This puts India on track to grow at nearly double the global average, making it one of the fastest-growing major economies.

The report noted that India’s economic stability and internal strength are helping cushion the impact of global uncertainties. Improvements in trade conditions and consistent policy support have also contributed to sustaining growth momentum.

At the same time, the IMF flagged risks for the global economy. Rising crude oil prices, supply disruptions, and uncertainty around key trade routes like the Strait of Hormuz could keep markets volatile. Inflation pressures are also expected to persist in several countries due to higher energy costs.

While advanced economies may see slower growth, emerging markets like India are expected to perform relatively better, supported by domestic factors.

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