For the full year, the outlook is significantly more positive. Reliance concluded FY26 with record revenues of ₹11.75 lakh crore, an increase of nearly 10%, while net profits jumped 18% to a historic high of over ₹95,700 crore. Jio remained a standout performer, with ARPU climbing to ₹214 and subscriber additions reaching a seven-quarter peak. Chairman Mukesh Ambani stated that Jio Platforms is “advancing steadily” towards a public listing.
Meanwhile, Brent crude prices have surpassed $105 a barrel amid a chokepoint in the Strait of Hormuz, contributing to market instability.
The markets faced a challenging week, with the Nifty IT index dropping 10% after leading IT firms fell short of earnings expectations. This represents the sector’s most significant weekly decline in six years, pulling the Sensex and Nifty down by about 2% each.
On a global scale, the Trump administration has ceased the criminal investigation against Fed Chair Jerome Powell, paving the way for Kevin Warsh’s nomination.
Domestically, the RBI has revoked Paytm Payments Bank’s licence, though it will not have any substantial financial repercussions. Meanwhile, Meta and Microsoft announced new job cuts as tech companies look to manage expenses amidst significant AI investments.
RIL results | Reliance Industries showcases strong revenue growth, declares dividend
Reliance Industries Ltd reported a consolidated net profit of ₹16,971 crore for the January-March quarter of FY 2025-26, down from ₹18,645 crore in the previous quarter and ₹19,407 crore a year before, reflecting margin pressures.
Read More
Also Read: RIL Q4 Results: Jio ARPU climbs to ₹214; subscriber base exceeds 524 million
RBI cancels Paytm Payments Bank licence; prohibits it from banking operations
The Reserve Bank of India has revoked the banking licence of Paytm Payments Bank, effective April 24, 2026, effectively barring it from any banking operations.
Read More
Oil prices may remain above $100 as supply issues persist, says PIMCO’s Sharenow
Greg Sharenow, Managing Director and Portfolio Manager at PIMCO, suggests that crude prices could stay in the three-digit range for an extended time, particularly if supply channels remain limited or only partially restored.
Read More
Infosys, HCLTech, Tech Mahindra pressure indices; Sensex, Nifty fall 2% this week
The benchmark indices erased gains from last week, with the Sensex and Nifty decreasing approximately 2% each, primarily driven by a sharp selloff in IT stocks following disappointing earnings. The Nifty IT index experienced its steepest weekly drop since March 2020, declining 10% as all constituents, except OFSS, ended lower.
Read More
Trump indicates ‘No Rush’ on Iran deal
Trump stated that he will not rush to conclude the conflict as negotiations with Iran progress, expressing a preference to ‘sit back’ and evaluate a potential agreement.
Meta reduces workforce by 8,000 while Microsoft offers buyouts
Meta is laying off approximately 8,000 employees, or about 10% of its workforce, as it continues to increase spending on artificial intelligence infrastructure and recruiting highly paid AI experts.
Read More
FM urges banks to stay alert to emerging AI threats, warns of ‘unprecedented’ risks
Finance Minister Sitharaman has alerted banks that new developments in artificial intelligence technology require heightened vigilance, preparation, and coordination.
Read More
Air India cautious about moving operations to Navi Mumbai Airport
The Air India Group has expressed concerns regarding relocating operations to Navi Mumbai International Airport, warning that increased costs, connectivity issues, and operational inefficiencies could deter airlines from expanding at the new facility.
Read More
Raghav Chadha joins BJP; 6 other AAP Rajya Sabha MPs also exit
Raghav Chadha, Member of Parliament in the Rajya Sabha, announced his departure from the Aam Aadmi Party (AAP) as it has “completely deviated from its principles,” and is joining the rival Bharatiya Janata Party (BJP).
Read More
Iran defends India, mocks Trump following ‘hell-holes’ comment: ‘Kabhi aa ke dekho, phir bolna’
Iran took a jab at U.S. President Donald Trump after he posted on Truth Social, labeling India and China as “hell-holes.”
Read MoreWe’ll see you on Monday with another engaging ‘Top 10@10’
