Jio Grabs 85% of 5G Market

• Markets surged on Monday as the Nifty crossed the 24,100 level and Bank Nifty reached a record high of 55,461.

• The Sensex and Nifty 50 posted gains for the fifth straight session on April 21, driven by broad-based buying amid mixed global signals. The rally is being fuelled by India’s strong growth outlook, relatively stable Q4 results, and renewed foreign portfolio investor (FPI) interest.

• Optimism around US Vice President JD Vance’s four-day India visit, with hopes of a bilateral trade agreement, is also boosting sentiment.

• The positive momentum is expected to persist, backed by strong domestic factors and stock or sector-specific moves as Q4 earnings continue to roll in.

Nippon Life India AM +6.07%

• Nippon Life India Asset Management surged over 7% today, driven by its strong dividend yield, positive financial results, and the overall bullish trend in the market.

Gensol Engineering (5.00%)

• Gensol Engineering shares dropped another 5% in today’s session, extending their losing streak.

• The company is under SEBI’s scrutiny following allegations of fund diversion and misleading disclosures.

• The decline follows an interim order issued by the Securities and Exchange Board of India (SEBI) against the company and its promoters over the alleged fund diversion.

• RBI relaxes final liquidity coverage ratio norms, providing relief to banks. (ET)

• Jio captures 85% of the 5G fixed wireless market share. (ET)

• RBI allows children aged 10+ to open bank accounts independently. (YS)

• SEBI has approved Continuum Green Energy’s ₹3,650 crore ($426Mn) IPO. (MC)

M&A / Investments

• Goodyear plans to sell its India farm tyres business for ₹2,500 crore ($291Mn). (ET)

• Certus Capital invests ₹500 crore ($58Mn) in four projects through private credit. (ET)

• LIC increases its stake in Bank of Baroda to 7.05%. (ET)

Debt

• RIL buys ₹10,000 crore ($1.16Bn) in govt bonds amid expectations of lower yields. (BS)

• Mensa Brands is raising ₹48 crore ($5.6Mn) in debt from Stride Ventures. (Inc42)

VC