Indian Investors Become ₹7 Lakh Crore Poorer in 3 Days as Sensex Crashes 2,600 Points

Markets crack for third straight session; Nifty settles below crucial 24,000 level amid West Asia tensions and disappointing IT results.

Indian investors became poorer by over ₹7 lakh crore in three consecutive sessions of relentless selling, as the Sensex crashed more than 2,600 points and the Nifty 50 slipped below the psychologically important 24,000 mark on Friday.

The bloodbath, which began on Wednesday, has erased wealth from Dalal Street at a pace unseen in recent months, leaving retail traders and seasoned investors battered.

Three Days of Pain

The 30-share BSE Sensex plunged 876 points on Friday alone, closing at 78,942. Over the three trading sessions — April 22, 23 and 24 — the benchmark has lost 2,647 points. The broader Nifty fell to 23,895, breaching the 24,000 support level that many analysts had called a make-or-break zone.

Market breadth remained sharply negative, with over 2,200 stocks declining on the BSE against just 650 advances.

Why the Market is Falling

Brokers and fund managers pointed to three distinct triggers behind the sudden crash.

First, simmering war tensions in West Asia refuse to cool down. Despite backchannel talks of a ceasefire involving Iran and the United States, ground realities remain volatile. Indian markets, which are highly sensitive to oil price movements, hate prolonged geopolitical uncertainty.

Second, weak earnings from IT bellwethers Infosys and HCL Technologies spooked institutional buyers. Both companies reported margins that missed street expectations. Since technology stocks command heavy weightage on the Nifty, their fall dragged the entire index down.

Third, inflation fears have returned. With crude oil climbing past $105 a barrel, economists now believe the Reserve Bank of India will struggle to cut interest rates in its upcoming policy review. High rates hurt business expansion and corporate profitability.

Crude Oil Shocks Economy

India meets over 85 per cent of its crude oil requirements through imports. Brent crude jumped from $90 per barrel earlier this month to $105 during this selloff. This directly impacts everything from aviation fuel to edible oil prices.

According to trade data, every $10 increase in oil prices widens India’s current account deficit by roughly 0.4 per cent. Transport companies and paint manufacturers saw their stocks fall 4 to 6 per cent in just three days.

Foreign Investors in Selling Spree

Foreign Institutional Investors (FIIs) have been pulling money out of Indian equities at an aggressive pace. In April alone — even before this three-day crash — FIIs sold shares worth over ₹1.14 lakh crore.

During the three days ending April 24, provisional data showed FIIs offloaded another ₹28,500 crore. Domestic institutional investors tried to buy the dip but could not match the scale of overseas selling.

What Happens Next

Market participants will now watch the West Asian diplomatic channels closely. Any fresh escalation could push oil towards $110, triggering another round of selling. On the earnings front, results from banking majors due next week will decide whether the Nifty can reclaim 24,000.

For the common man who invests monthly savings through mutual funds and smallcap stocks, the next two sessions could prove decisive. Financial advisers are advising existing investors to avoid panic selling and review asset allocation instead.

The government has not yet issued an official statement, but sources indicated that the finance ministry is monitoring the volatility. For now, Dalal Street waits for a trigger to stop the bleeding.

OpenAI has rolled out GPT-5.5, its most advanced AI model to date. Company executives hailed it as the next big step in artificial intelligence during a social media announcement on X on April 23. Sources indicate the model shifts from mere conversation to full task execution.

Experts tested GPT-5.5 on 10 diverse challenges. It planned and finished multi-step projects without constant prompts. This positions it ahead of rivals like Claude and Gemini in strategic automation.

Launch Details Emerge
OpenAI posted the GPT-5.5 reveal on X two days ago. The update targets professionals handling mixed workloads. Unlike older versions, it breaks down assignments into steps independently.

Tech analyst David Gewirtz ran benchmarks. GPT-5.5 excelled in research, planning, and delivery across trials. Reports confirm it outperforms predecessors in handling intricate directives.

Core Capabilities Shine
GPT-5.5 acts as an all-rounder for office tasks. Users assign projects; it strategizes and executes. Officials noted improvements in strategic thinking over GPT-4 variants.

It processes instructions holistically. No need for step-by-step guidance. This autonomy marks a leap, as per company statements shared online.

Rivals in Spotlight
Claude leads in writing and coding. Developers praise its human-like language and code depth. Content creators favor it for nuanced outputs.

Gemini dominates data-heavy roles. It scans vast files and integrates with Google tools like Gmail and Drive. Analysts rely on it for bulk processing.

Testing Yields Insights
Gewirtz's trials highlighted GPT-5.5 strengths. It automated workflows end-to-end. Success rates topped 90% on complex simulations, sources said.

Indian tech circles buzz with comparisons. Professionals weigh it against local adoption needs. Early feedback stresses its edge in automation.

Background Builds Context
OpenAI has iterated rapidly since GPT-4. Each upgrade boosts reasoning and efficiency. GPT-5.5 builds on this, focusing on agent-like behavior.

The firm positions it for real-world use. Announcements emphasize productivity gains. Global AI race intensifies with players like Google and Anthropic.

Official Word Filters Out
OpenAI's X post declared: "GPT-5.5 takes AI further—plan, act, complete." Spokespersons avoided full specs, citing ongoing rollouts. "This redefines assistance," one executive remarked to tech outlets.

Industry watchers like Gewirtz echoed praise. "It feels like a true partner," he noted post-tests. No Indian regulatory comments surfaced yet.

Impact Ripples Across Sectors
Indian firms eye GPT-5.5 for efficiency. IT services and startups could automate routine jobs. Public interest story in trending news India grows.

Policy circles discuss AI ethics. Government updates may address job shifts. English news portal India tracks this as national tech news.

Users Weigh Options
Professionals pick based on needs. GPT-5.5 suits mixed tasks; Claude, creative coding; Gemini, data crunching. India news update shows rising trials.

Future Path Unfolds
OpenAI plans wider access soon. Integrations with apps loom large. Regulators worldwide, including India, monitor developments closely.

Experts predict faster adoption in metros like Bengaluru. GPT-5.5 could reshape workflows. Watch for user data and rival counters in coming weeks.

Billionaire Philanthropy: Musk Retains Top Spot While Gates’ Wealth Shrunk by Massive Donations

New Forbes ‘True Net Worth’ ranking reveals that Bill Gates would be the world’s second-richest person today if he had not donated 73 crore Microsoft shares.

 A provocative new analysis by business magazine Forbes has sparked a global debate on the actual wealth of the world’s elite. The newly released "True Net Worth" ranking recalculates the fortunes of billionaires by adding back their lifetime charitable donations, adjusted for market growth.

The report highlights a staggering disparity between "hoarded" and "distributed" wealth. While tech mogul Elon Musk continues to lead the pack in both traditional and adjusted lists, the data suggests that veteran philanthropists like Bill Gates and Warren Buffett have effectively "donated" their way down the billionaire rankings.

Musk leads latest news today

According to the report, Tesla CEO Elon Musk remains the undisputed world’s richest person. However, his "True Net Worth" is remarkably close to his current valuation because he has donated only an estimated 0.06% of his vast fortune to date.

Sources indicated that while Musk has transferred billions to his own foundations, the actual disbursement to those in need remains a tiny fraction of his total holdings. This keeps him at the top of the Latest News Today as critics and fans debate the social responsibility of the ultra-wealthy.

Gates’ massive share donation

The most dramatic shift in the English News Portal India report involves Microsoft co-founder Bill Gates. Gates, who currently sits at the 19th position on the standard billionaires list, would have a drastically different standing if he had held onto his assets.

The analysis shows that Gates has donated approximately 73.1 crore (731 million) shares of Microsoft over the decades. Had these shares remained in his portfolio, his wealth would be roughly four times higher, placing him at the 2nd spot globally instead of 19th.

Buffett’s lost market gains

Similarly, Berkshire Hathaway chairman Warren Buffett has seen his ranking drop due to his commitment to the Giving Pledge. Currently ranked 9th, Buffett would jump to the 3rd position under the "True Net Worth" metrics.

As per reports, the value of the shares donated by Buffett since 2006 has appreciated by approximately 700%. By giving away his wealth early, Buffett effectively surrendered the compounded growth that would have kept him in the top three richest individuals.

MacKenzie Scott’s rapid giving

The India News Update on global wealth also sheds light on MacKenzie Scott, the ex-wife of Jeff Bezos. Scott has become a symbol of rapid-fire philanthropy, donating more than $26 billion in just a few years.

In the adjusted ranking, Scott would climb 58 positions to reach the 26th spot. Conversely, her ex-husband Jeff Bezos would actually fall out of the top five in the "True Net Worth" list, as other billionaires with higher "all-time" wealth (including their donations) would leapfrog him.

Impact of government updates

This new perspective comes at a time when Government Updates globally are looking closer at billionaire tax structures and mandatory philanthropic payouts. The Forbes report suggests that the ranking of the world's most generous billionaires is a better reflection of "power potential" than actual bank balances.

Sector analysts believe this data could influence how the public perceives the "National and International News" surrounding wealth tax. It highlights that being "less rich" on paper is often a deliberate choice made by those funding global health and education.

Public interest story trends

As this Public Interest Story trends across social media, the focus has shifted toward the "Generosity Gap" between older and younger billionaires. The data serves as a stark reminder of how market compounding works—not just for personal gain, but for the scale of charitable impact over time.

Investors and policy experts are now watching to see if this "True Net Worth" metric becomes a permanent fixture in economic reporting. It provides a more nuanced look at the Trending News India audiences follow regarding global financial power.

Future outlook on wealth

What next for the world’s richest? Experts suggest that as more billionaires join the Giving Pledge, the gap between the "True Net Worth" and the actual "Billionaire List" will continue to widen.

Adani Green Energy profit jumps 34% in Q4 FY26

Adani Green Energy reports strong earnings growth with record 5.1 GW capacity addition, boosting revenue and operational performance in FY26.

Strong Q4 Performance

Adani Green Energy posted a 34% year-on-year rise in consolidated net profit for the fourth quarter of FY26, reflecting robust operational growth and capacity expansion. The company reported a net profit of ₹514 crore for the January–March quarter, compared to ₹383 crore in the same period last year, according to results released on April 24.

On a sequential basis, the jump in profit was sharp, rising from ₹5 crore in the December 2025 quarter, indicating a significant improvement in earnings momentum.

Revenue Growth Trends

The company’s revenue also recorded steady growth during the quarter. It increased by 16% year-on-year to ₹3,094 crore, up from ₹2,666 crore in Q4 FY25. Sequentially, revenue rose by over 25% from ₹2,420 crore in the previous quarter.

This consistent rise in topline performance aligns with broader trends seen in the renewable energy sector, making it a key highlight in the Latest News Today under India News Update.

Capacity Addition Boost

A major driver behind the improved performance was the addition of a record 5.1 GW of greenfield renewable energy capacity during FY26. The company attributed its earnings growth to this expansion, along with improved plant performance and deployment of advanced technologies.

New project developments in regions such as Khavda in Gujarat and parts of Rajasthan also contributed to the capacity build-up.

EBITDA and Margins Rise

Operating performance remained strong during the quarter, with EBITDA rising by nearly 20% to ₹2,882 crore from ₹2,402 crore a year ago. Margins also improved significantly, increasing from 78.2% to 82.3%.

The rise in margins reflects enhanced efficiency and better output from operational assets, a trend that continues to shape Government Updates and sectoral shifts in clean energy.

Annual Financial Snapshot

For the full financial year FY26, Adani Green Energy reported a net profit of ₹1,987 crore, slightly lower than ₹2,001 crore recorded in FY25. Despite the marginal dip in annual profit, revenue grew strongly by 22% to ₹11,602 crore.

This divergence suggests that while expansion costs and investments may have weighed on overall profit, core business growth remained intact.

Expansion at Khavda

The company highlighted significant progress in its battery storage operations at Khavda in Gujarat. Its storage capacity has reached 1,376 MWh, making it one of the largest single-location installations globally.

Adani Green Energy plans to scale this capacity to 10,000 MWh by 2027, underlining its long-term commitment to strengthening renewable infrastructure in India.

Management Commentary

Executive Director Sagar Adani described FY26 as a “milestone year” for the company. According to him, the addition of 5.1 GW capacity in a single year has taken total operational capacity to 19.3 GW.

He noted that this represents one of the largest expansions by any renewable energy company outside China, reflecting the company’s aggressive growth strategy.

Market Reaction and Outlook

Following the earnings announcement, the company’s shares closed at ₹1,227, marking a gain of 1.02%. The stock has risen around 21% so far this year, signalling positive investor sentiment.

Looking ahead, continued investments in renewable capacity, battery storage, and greenfield projects are expected to shape the company’s trajectory. The developments also hold significance for India’s clean energy targets and broader National and International News narratives around sustainability.

Adani Green Energy’s performance remains a key Public Interest Story, as the renewable sector gains traction amid rising energy demand and climate commitments, making it a closely tracked Trending News India segment.

LUXURY INVESTMENT MARKET STABILIZES; COLLECTORS BET ON HISTORICAL SIGNIFICANCE

Rare antiques and Impressionist art surge 13% as wealthy investors shift focus to cultural assets

MARKET SHIFT: QUALITY OVER QUANTITY

Luxury investment portfolios are undergoing a fundamental transformation. Rather than chasing broad-based returns, high-net-worth individuals are now concentrating their capital exclusively on assets with demonstrable historical and cultural importance. Knight Frank's latest 'Wealth Report 2026' reveals that the broader Luxury Investment Index contracted by just 0.4% during 2025—a marginal decline signalling stabilisation after two years of sector-wide contraction.

This measured performance masks a more interesting narrative beneath the surface. While conventional luxury categories have struggled, collectors' appetite for art with provenance, heritage watches, and culturally significant objects has intensified considerably. The recalibration reflects a maturing market where scarcity and authenticity now command premium valuations.

IMPRESSIONIST ART LEADS THE CHARGE

The data tells a compelling story. Sales of Impressionist art have jumped 13.6% year-on-year, making it the standout category within Knight Frank's index. This surge was fuelled partly by high-profile auctions that captured global attention. Gustav Klimt's 'Portrait of Elizabeth Lederer' fetched approximately ₹2,225 crore at auction, establishing a new benchmark as the most expensive Impressionist work ever sold. Such headline transactions legitimise the asset class and attract fresh capital.

The momentum extends beyond Impressionism. Modern art prices have appreciated 7%, whilst post-war art climbed 5.2%. These gains underscore a broader collector preference for artworks with established market histories and institutional recognition. Meanwhile, horological investments—watches—recorded 5% growth, driven substantially by demand for coveted brands like Patek Philippe and Rolex. By contrast, the classic cars segment contracted 3.7%, reflecting softer appetite for automobiles without singular historical distinction.

FRACTIONAL OWNERSHIP RESHAPES ENTRY POINTS

Demographic shifts are redefining how wealth accumulates in luxury assets. Investors aged under 40 are increasingly accessing premium collectibles through fractional ownership platforms. These digital marketplaces enable buyers to acquire small equity stakes in expensive artworks, heritage timepieces, and motorcars—assets that would otherwise remain beyond reach for emerging wealth.

This trend represents more than mere democratisation. It signals a generational recalibration of investment philosophy. Younger high-net-worth individuals prioritise cultural significance and intangible heritage value over traditional real estate holdings. Fractional platforms amplify this shift by removing liquidity barriers and allowing portfolio diversification across multiple asset classes simultaneously.

INDIA ASCENDS TO SIXTH POSITION IN ULTRA-RICH RANKINGS

India's ultra-high-net-worth population—defined as individuals holding assets exceeding $30 million (approximately ₹282 crore)—has reached 19,877, according to Knight Frank's analysis. This positions the country sixth globally in ultra-rich population density. More significantly, projections suggest this cohort will expand by 27% over the next five years, reaching 25,217 individuals by 2031.

The wealth concentration within India remains pronounced. Mumbai dominates, accounting for 35.4% of the nation's ultra-rich population. The city's position reflects decades of commercial consolidation, real estate appreciation, and financial services concentration. Beyond personal wealth, India's billionaire population is expected to expand by 51% within the same period, further solidifying the country's emergence as a wealth creation hub.

HISTORICAL SIGNIFICANCE BECOMES THE INVESTMENT THESIS

The underlying driver of these market movements is philosophical. Collectors are abandoning the notion that luxury assets serve primarily as capital appreciation vehicles. Instead, historical authenticity and cultural importance have emerged as primary value determinants. Assets with documented provenance, institutional exhibitions, or cultural heritage recognition command sustained premium valuations.

This shift reflects lessons learned during market volatility. When asset classes without intrinsic cultural value experienced sharp corrections, collectors holding historically significant items demonstrated greater resilience. The market has therefore reoriented toward proven hedges—artworks, watches, and artefacts with multi-generational appeal and recognised collector bases.

FUTURE TRAJECTORY: SELECTIVE INVESTMENT CONTINUES

The trajectory ahead suggests sustained focus on quality and authenticity. Knight Frank's data indicates that as global wealth expands, collectors will remain selective rather than expansive. Fractional ownership platforms are likely to multiply, further facilitating access for younger wealth cohorts. Simultaneously, the institutional art market—auction houses, galleries, and provenance verification services—stands positioned for growth as demand for authentication and historical documentation intensifies.

The 0.4% marginal decline in the broader index masks a far more bullish reality for curated collections. For investors seeking exposure to luxury assets, the message is unambiguous: scarcity, provenance, and historical resonance now command the market premium.

In a significant milestone for the commercial real estate landscape, Venus Group has completed transaction of 2,07,838 sq. ft. of premium office space at Stratum at Venus Grounds in Ahmedabad, to a Real Estate Investment Trust (REIT). This marks one of the first instances of developer-led office assets from Ahmedabad being institutionalised under a REIT framework.

The identified office inventory, strategically spread across multiple floors at Stratum, Nehrunagar, Ahmedabad, has been leased and monetised through PropShare Celestia, India’s first SM REIT platform. This reflects strong investor confidence in high-quality, income-generating commercial assets from emerging markets.

The asset is fully leased to a diversified and reputed tenant mix, including multinational corporations and Fortune 500 companies, reinforcing its strong positioning and long-term value potential.

The third SM REIT scheme by PropShare Celestia opened with an issue size of ₹244.65 crore and witnessed robust investor participation. Open for subscription from April 10 to April 16, the issue was oversubscribed 1.33 times, reflecting a growing appetite for institutional-grade commercial assets beyond metro cities.

Stratum at Venus Grounds, stands as a benchmark Grade-A commercial development and an IGBC Platinum-rated green building. Spread across one of the largest land parcels in the micro-market, the project offers approximately 1 million sq. ft. of built-up area with large, efficient floor plates tailored for modern business requirements. A key highlight is its 16,000 sq. ft. Activatrium, designed to foster collaboration, engagement, and a vibrant corporate ecosystem.

Commenting on this achievement, Rajesh Vaswani, Managing Director, Venus Group, stated, “We are proud to see global capital being brought into Ahmedabad through PropShare Celestia. This marks a defining moment in the evolution of the city’s commercial real estate landscape. We remain committed to driving greater participation and enabling larger, high-value transactions, as Ahmedabad continues to establish itself as a credible destination for premium occupiers and long-term investment.”

With the REIT listed as SM REIT, this development further strengthens Ahmedabad’s positioning in the institutional real estate space, aligning it with global investment practices where premium commercial assets are structured for broader investor participation.

Nita Ambani's ₹11 Lakh Jamdani Saree Shines at US Summit, Spotlights India's Thriving Textile Legacy

Masterpiece took two years to weave; saree industry employs 4.5 crore people across India

Nita Ambani's appearance at the TIME100 Summit in New York this week sparked considerable interest, not just for her presence but for the exquisite cream-coloured Jamdani saree she wore—a piece valued at approximately ₹11 lakh. The handwoven marvel, crafted over two years by West Bengal-based Padma Shri awardee Biren Kumar Basak, has once again brought international attention to India's heritage textile industry, a sector that continues to employ millions and generate over ₹57,000 crore annually.

The Masterpiece Behind the Moment

The saree that caught global attention is far more than fabric. It represents meticulous artisanship—a Meenakari Jamdani creation handwoven in Phulia, West Bengal, featuring intricate depictions of Bengal's textile legacy with animal and tree motifs embedded throughout. The piece was sourced through Swadesh, a Reliance Foundation initiative dedicated to promoting Indian heritage crafts.

Biren Kumar Basak, whose enterprise clocks over ₹50 crore in annual business, has become one of the country's most sought-after saree weavers. His clientele spans from Prime Minister Narendra Modi to West Bengal Chief Minister Mamata Banerjee. According to Basak, such bespoke creations reflect the painstaking labour involved—handwork that can span months or even years.

Understanding Jamdani: Tradition Meets Craft

Jamdani represents one of India's most celebrated weaving traditions. The technique involves intricate hand-weaving that produces remarkably thin, delicate fabric adorned with elaborate floral patterns. Predominantly woven in West Bengal, with significant production also occurring in Hyderabad, Jamdani sarees have remained synonymous with cultural sophistication and refined taste across generations.

Celebrities and dignitaries have long favoured the style. Late renowned singers Asha Bhosle and Lata Mangeshkar were notable patrons, as are members of prominent political families. West Bengal Chief Minister Mamata Banerjee, known for her signature white sarees, predominantly wears Jamdani pieces—typically selecting lower-range variants priced around ₹3,000, according to Basak.

The Price Range and Accessibility

Jamdani sarees span a wide pricing spectrum, determined largely by the complexity and extent of handwork involved. According to Basak, prices range from a few thousand rupees to well over one lakh. Premium pieces like Ambani's represent the zenith of craftsmanship—years of labour concentrated into a single garment.

"We also craft Jamdani kurtas and have presented handcrafted Jamdani-style sheets to dignitaries," noted Basak in remarks highlighting the versatility of the traditional technique beyond conventional saree-making.

A ₹57,000 Crore Industry Sustaining Millions

India's saree market, valued at over ₹57,000 crore in 2025 according to IMARC Group data, continues expanding annually. Despite the popularity of contemporary clothing, the saree remains the undisputed centrepiece of Indian fashion, transcending regional and generational boundaries.

The scale of employment within this sector is staggering. The Ministry of Textiles indicates that more than 4.5 crore individuals work directly in the textile sector nationally. Within handloom weaving specifically—the domain producing traditional sarees like Jamdani, Banarasi, and Kanchipuram varieties—over 43 lakh weavers operate across India.

Rural Lifeline and Economic Backbone

The saree industry functions as a crucial economic lifeline in rural India. While factory-based manufacturing contributes to overall production, millions of families in small villages sustain themselves through home-based saree weaving. This distributed model has allowed the sector to remain resilient and inclusive, providing dignified livelihoods across countless communities.

Each saree purchase extends beyond acquiring a garment. It represents direct economic support to an industry generating ₹57,000 crore annually and providing sustenance to over 4.5 crore workers—a chain of value that connects international runways with village looms.

India's Heritage Textiles Gain Global Recognition

Nita Ambani's appearance at a prestigious international summit wearing an Indian heritage saree signals renewed global appreciation for the country's textile craftsmanship. As modern fashion trends evolve, India's traditional weaving techniques continue demonstrating their relevance and value on the world stage.

The saree industry represents more than commerce—it embodies cultural continuity, artisanal excellence, and economic opportunity intertwined. Each handwoven piece carries the skill of generations, the investment of countless hours, and the aspirations of entire rural communities dependent on this ancient craft.

What Lies Ahead

As the Indian saree market expands and international interest grows, the focus remains on sustaining traditional weaving practices while supporting the livelihoods of millions. Initiatives like Swadesh demonstrate how heritage craft promotion can merge cultural preservation with economic empowerment, ensuring that India's textile legacy continues thriving for generations to come.

Bikaji Founder Dies at 77, Leaves ₹17,300 Cr Empire

Sudden Demise Shocks Nation

Shivratan Agarwal, founder of Bikaji Foods, died in Chennai on Thursday, April 23, 2026, at age 77. Sources close to the family said he felt uneasy and was rushed to a private hospital, where he breathed his last. Agarwal built a ₹17,300 crore namkeen empire from humble beginnings, turning a local bhujia recipe into a global brand.

Early Life Roots

Agarwal hailed from Bikaner, Rajasthan, born into a family known for snacks. His grandfather Gangabishan Agarwal had pioneered the Haldiram brand. Yet, in the late 1980s, Shivratan struck out alone, driven by ambition to forge his path.

Breaking from Family Business

He quit the family fold in 1987 with scant resources. Traditional bhujia production relied on manual methods, limiting scale. Agarwal sought mechanized solutions, traveling worldwide to source technology that preserved the crispy texture.

Birth of Bikaji Brand

In 1993, he launched Bikaji, naming it after Bikaner founder Bika Rao—'Bika' plus 'Ji' for respect. Starting as Shivdeep Food Products, it quickly gained traction. The brand evoked Rajasthan's snack heritage while embracing modern production.

Global Expansion Drive

Agarwal bootstrapped with personal savings and family aid. He later drew funds from investors like Lighthouse and IIFL. Bikaji now runs six factories across India, exports to over 30 countries including the US, UAE, and Europe, and claims the top spot as India's largest Bikaneri bhujia maker.

Company Statement Released

"Bikaji Foods mourns the irreparable loss of Shri Shivratan Agarwal, who transformed traditional snacks into an international brand through authentic taste and smart practices," the company said in a statement. "His legacy will guide our growth."

Market Valuation Soars

Listed on stock exchanges, Bikaji Foods hit a market cap of ₹17,315 crore by April 2026. Amitabh Bachchan's endorsements boosted its household status. Agarwal's vision blended grit with innovation, proving local flavors could conquer global shelves.

Legacy Inspires Entrepreneurs

Agarwal's story resonates in India's startup scene, showing how determination turns a bowl of bhujia into billions. Industry watchers note his pivot from family ties fueled unique strategies. Public tributes poured in on social media, hailing him as a self-made icon.

Future Path Ahead

Bikaji's leadership now eyes sustained expansion under Agarwal's principles. Family sources indicate steady operations amid grief. As India news updates track this public interest story, his mantra rings true: curiosity fuels innovation and survival.

India Billionaire Count Set to Surge 51% by 2031

India holds third spot globally with 207 billionaires, behind US and China; UHNWI population to cross 25,000 mark.

Lead Fact Breakdown

India now houses the third-highest number of billionaires in the world, according to the 20th edition of ‘The Wealth Report 2026’ released by real estate consultancy Knight Frank. The country currently has 207 billionaires, trailing only China (485) and the United States (914). Officials at the firm project this number to rise sharply by 51 per cent to reach 313 individuals by 2031.

UHNWI Population Rise

The report also noted a significant expansion in the club of the super-rich. India is home to 19,877 ultra-high net worth individuals (UHNWIs) – defined as persons holding net assets of $30 million (approximately ₹279 crore) or more. As per the findings, this segment is forecast to grow to 25,217 by the end of the decade.

Global Wealth Acceleration

According to Knight Frank, these figures reflect a “dramatic acceleration” in global wealth creation, which has continued despite substantial geopolitical uncertainty. The consultant highlighted that the worldwide UHNWI population has already climbed to 7.13 lakh, up from 5.51 lakh in 2021, indicating that wealth is concentrating despite market volatility.

Sectoral Drivers

Industry experts tracking the data point to specific engines of this growth. Sources indicated that extraordinary wealth creation is happening across India’s technology sector, industrials, and capital markets. The consultancy noted that this expansion underlines India’s growing role in the global wealth landscape as the economy becomes more entrepreneurial.

Official Statement

Shishir Baijal, International Partner and Chairman & Managing Director of Knight Frank India, commented on the trajectory. “The expansion of India’s wealth club mirrors its economic evolution as it becomes a more entrepreneurial economy maturing into one with deeper capital pools, more sophisticated financial markets and a growing cohort of globally connected founders and investors,” Baijal said.

Five-Year Growth

Looking at recent history, the numbers show a robust upward trend. India’s billionaire count has already risen 58 per cent over the past five years to reach the current figure of 207 in early 2026. This pace outpaces many other developing nations, reinforcing the country’s position as a key wealth hub in Asia.

Future Outlook

What this means for the broader economy remains a public interest story with policy implications. As per the Knight Frank forecast, the 51 per cent projected growth in billionaire population over the next five years is expected to drive further luxury consumption and investment. However, this latest news today also places a spotlight on wealth distribution and regulatory frameworks. The government is likely to keep a close watch on capital flows as India continues to attract global investors seeking high-growth markets.

Silver Crashes ₹4700/kg, Gold Slips to ₹1.51 Lakh

IBJA data shows sharp single-day drop in bullion prices on April 23 amid ongoing yearly surge

Mumbai traders woke to a bullion slump on Thursday. Silver prices tumbled ₹4,700 per kilogram to ₹2.43 lakh. Gold followed suit, shedding ₹927 per 10 grams of 24-carat to ₹1.51 lakh.

The India Bullion and Jewellers Association (IBJA) confirmed the rates. Sources indicated spot market pressures triggered the fall.

Sharp Daily Decline

Prices reversed Tuesday's levels. Silver stood at ₹2.48 lakh per kg on April 22. Gold hovered at ₹1.52 lakh for 10 grams then.

Retail jewellers in Mumbai reported brisk early queries. Buyers eyed the dip for wedding season pickups.

Yearly Price Surge

Gold has climbed ₹18,000 this year. It traded at ₹1.33 lakh per 10 grams on December 31, 2025. Silver gained ₹13,000, moving from ₹2.30 lakh per kg.

Traders track global cues closely. Domestic demand stays firm despite volatility.

Peak Levels Recede

January 29 marked bullion highs. Gold hit ₹1.76 lakh per 10 grams. Silver soared to ₹3.86 lakh per kg.

From those peaks, gold eased ₹25,000. Silver shed a massive ₹1.43 lakh. The correction draws investor attention now.

Official Rate Confirmation

IBJA spokesperson noted the downturn. "Spot rates reflect international softening," an association official told reporters.

Jewellers urged caution on purchases. Market watchers await US Fed signals for direction.

Buyer Tips Emerge

Experts stress certified buys. Opt for Bureau of Indian Standards (BIS) hallmark like AZ4524. It verifies carat purity.

Cross-check weights and daily rates via IBJA site. Prices vary by 24, 22, or 18 carat.

Spotting Real Silver

Simple tests help verify silver. Real pieces repel magnets. Ice melts fast on genuine metal.

No copper smell marks authenticity. Rubbing on white cloth leaves black if pure.

Market Impact Widens

The slide hits jewellers and investors. Festive demand could absorb stocks soon. Rural buyers in Madhya Pradesh and beyond watch keenly.

Small traders gain from lower entry points. Larger players hedge against swings.

Outlook Ahead

Analysts predict short-term consolidation. Geopolitical calm might stabilise silver prices fall trends.

Watch Friday's IBJA update for clues. Gold rates slide could pause if inflows resume. This India news update flags opportunities in trending news India.

Centre Refutes Fuel Price Hike Reports, Labels Claims ‘Mischievous’

Petroleum Ministry clarifies that there is no proposal to increase petrol and diesel prices, asserting that domestic rates remain unchanged despite global volatility.

The Ministry of Petroleum and Natural Gas on Thursday firmly dismissed media reports suggesting an impending hike in petrol and diesel prices following the conclusion of ongoing assembly elections. Labeling such claims as "mischievous and misleading," the ministry reiterated that there is no proposal currently under government consideration to revise retail fuel rates.

Govt Dismisses ‘Fake’ Reports

In a sharp rebuttal issued via social media, the ministry urged citizens to remain calm and warned against the dangers of unverified information. Officials stated that these reports are designed specifically to "create fear and panic" amongst the public. The government emphasized its commitment to protecting consumers from the inflationary impact of global energy fluctuations.

Stability Amidst Global Turbulence

While international crude oil prices have remained volatile due to heightened geopolitical tensions in West Asia—particularly surrounding the conflict involving Iran and disruptions in key maritime arteries—the Indian government has maintained retail price stability. According to official data, India stands as the only country to have kept petrol and diesel prices unchanged over the last four years, a feat attributed to the concerted efforts of the government and oil Public Sector Undertakings (PSUs).

Context of Market Speculation

The government’s clarification comes in response to a report by Kotak Institutional Equities, which had projected a potential increase of ₹25 to ₹28 per litre in domestic fuel prices. The brokerage had cited the mounting financial pressure on oil marketing companies, which are currently absorbing the difference between elevated global crude costs—hovering near $120 per barrel—and domestic pump prices. Analysts noted that while these companies are facing significant losses, the current pricing strategy remains a priority to shield the common man from sudden economic shocks.

Comparison with Global Peers

The contrast between India’s fuel pricing and international trends is stark. Reports indicate that many advanced and emerging economies have seen fuel prices surge by double digits this year. For instance, neighboring Pakistan has faced multiple steep hikes during the recent geopolitical crisis, with petrol and diesel prices reaching record highs. In contrast, Indian consumers continue to pay stable rates, with petrol retailing at approximately ₹94–₹95 per litre in the national capital.

Government’s Insulation Strategy

To maintain this stability, the central government has employed various policy tools, including excise duty cuts and the reinstatement of windfall taxes on exports. These measures have allowed the state-run oil marketing companies to absorb the brunt of international price spikes. Sources indicate that this "price smoothing" mechanism is a deliberate move to ensure that domestic inflation remains under control during the election season and beyond.

What Lies Ahead

For now, the government has maintained its stance that there is no immediate plan for a price revision. However, experts warn that the long-term sustainability of this freeze depends heavily on the trajectory of global crude oil markets. As long as geopolitical tensions persist and crude prices remain elevated, the spotlight will remain on how the government balances the fiscal health of oil companies against its commitment to protecting the public from a petrol and diesel price hike.

Sensex falls 852 points as oil tops $100 amid global sell-off

Indian stock market decline deepens as Brent crude crosses $100; Sensex and Nifty close sharply lower in latest India News Update

Market closes weak

India’s benchmark indices ended Thursday on a sharp negative note, with the BSE Sensex dropping 852.49 points to settle at 77,664.00, while the Nifty 50 fell 205.05 points to close at 24,173.05. The sell-off came amid rising global crude oil prices and weak cues from Asian markets, marking another day of losses in the domestic equities segment.

Sectoral pressure builds

Auto stocks led the decline during the session, with heavy selling seen across major counters. Shares of companies such as Tech Mahindra, M&M, Asian Paints, and IndiGo featured among the top laggards on the Sensex pack.

Broader market sentiment remained cautious as most sectoral indices on the National Stock Exchange ended in the red. Only a handful of indices, including media and pharma, managed to post marginal gains, reflecting a mixed but largely negative sectoral trend.

Global cues weigh

Asian markets largely mirrored the weakness seen in India. Key indices in South Korea, Japan, and Hong Kong closed lower, indicating cautious investor sentiment across the region.

However, overnight gains in US markets offered limited support. Wall Street indices, including the Dow Jones, Nasdaq, and S&P 500, had ended higher, but the positive momentum failed to carry forward into Asian trading hours.

Oil price surge

A major factor behind the market decline was the sharp rise in global crude oil prices. Brent crude surged past the $100 per barrel mark, trading near $104, raising concerns about inflationary pressures and input costs for Indian companies.

Higher oil prices are seen as a negative for import-dependent economies like India, as they widen the current account deficit and exert pressure on the currency.

Rupee weakens further

Reflecting the global headwinds, the Indian rupee depreciated by 34 paise to close at 94.12 against the US dollar. Currency weakness added to investor concerns, particularly for sectors sensitive to import costs and foreign capital flows.

Institutional selling continues

Market data showed sustained selling pressure from institutional investors. Foreign institutional investors (FIIs) remained net sellers, pulling out approximately ₹2,080 crore in the previous session. Domestic institutional investors (DIIs) also offloaded shares worth around ₹1,050 crore.

This continued outflow of funds has contributed significantly to the downward trend in equities over the past two trading sessions.

Previous session trend

The current decline follows a similar trend seen on April 22, when the Sensex had fallen by 757 points to close at 78,516, while the Nifty dropped 199 points to end at 24,378. The back-to-back losses signal growing caution among investors amid global uncertainties.

Outlook ahead

Market participants are expected to remain watchful of global oil price movements and foreign fund flows in the coming sessions. Analysts indicate that sustained crude prices above $100 could weigh further on market sentiment and corporate margins.

Investors will also track macroeconomic indicators and global developments closely for cues. The Indian stock market outlook remains sensitive to external triggers, making near-term volatility likely.

As per market experts, stability in crude prices and a reversal in institutional selling will be key factors in determining the next direction for equities. This remains a closely watched public interest story in the Latest News Today and broader National and International News cycle.