Seven companies report or announce material events on April 22–23: a landmark insurance JV, a retailer’s strongest margin in four quarters, a telecom profit collapse explained, a state miner’s decade-defining capex plan, a power infrastructure milestone, a life insurer’s split verdict, and a pharma CEO’s surprise exit.
Markets Desk | April 23, 2026
Jio Financial & Allianz: Binding JV Executed at 5:32 p.m. on April 22
Jio Financial Services (JFSL) and Allianz Europe B.V. executed a binding 50:50 general and health insurance joint venture at 5:32 p.m. IST on April 22, 2026, nine months after a non-binding agreement in July 2025 per exchange filings. The board cleared the deal at a meeting concluding at 3:45 p.m. the same day. Operations begin only after IRDAI regulatory approval. Both companies are separately negotiating a second binding agreement for life insurance. Allianz, which serves 97 million customers across 70 countries and has operated in India since 2000, already holds an IRDAI certificate for a reinsurance JV with JFSL, in which the company has invested ₹147.45 crore. Motilal Oswal rates JFSL ‘Buy’ with a ₹315 target; the stock has traded at ₹235–240 in recent sessions.
Trent Q4 FY26: PAT +33%, EBITDA +44%, 1:2 Bonus Approved
Trent reported consolidated PAT of ₹413.10 crore for Q4 FY26, up 32.57% from ₹318.15 crore a year earlier, and revenue of ₹5,027.99 crore, up 19.23%, per audited results filed April 22. Operating EBIT margin expanded 180 basis points to 11.5% from 9.7% in Q4 FY25, its strongest in four quarters. EBITDA rose 44% to ₹653 crore. Trent opened 23 Westside and 109 Zudio stores in the quarter, taking its total network to 1,263 stores across 321 cities. The board approved a 1:2 bonus issue, a ₹6-per-share dividend (600% of face value), and an enabling resolution to raise up to ₹2,500 crore through equity. The stock closed at ₹4,409.90 on April 22, down 29% from its 52-week high of ₹6,261.
Tata Communications: Consolidated Profit Down 74.7%, Revenue Up 9.4%
Tata Communications’ consolidated net profit fell 74.7% to ₹263.25 crore in Q4 FY26 from ₹1,040.34 crore a year ago, per an exchange filing dated April 22. The decline is explained by exceptional income in the FY25 base not repeated in FY26, per the company’s regulatory filing, not operational deterioration: consolidated revenue grew 9.4% to ₹6,554 crore, EBITDA rose 14.4% to ₹1,284 crore, and EBITDA margin expanded to 19.58% from 18.73% a year earlier. The board recommended a dividend of ₹17.50 per share. The stock closed 1% higher at ₹1,527 on April 22 but is down 16.3% year-to-date.
Infosys: Q4 Results Due Today at 3:45 p.m. IST — Estimates Only
[Note: Figures below are pre-results analyst estimates. Update with actual results post 3:45 p.m. IST on April 23.]
Infosys releases Q4 FY26 and full-year results on April 23 at approximately 3:45 p.m. IST, per its NSE filing. Brokerages tracked by Business Standard estimate consolidated PAT at ₹7,508.6 crore (up 4% YoY from ₹7,218 crore) and revenue at ₹46,567 crore (up 13.7% YoY). On FY27 guidance, Motilal Oswal expects 1.5–4.5% constant-currency growth, while PL Capital projects a more bullish 4–6% CC range. Any guidance above 4% is the likely positive catalyst for the stock. The stock closed at ₹1,268.80 on April 22, down 17% from its 52-week high of ₹2,006.
Hindustan Copper: ₹7,188.60 Cr to Nearly Triple Capacity by FY30
State-owned Hindustan Copper (HCL) committed ₹7,188.60 crore in capex over FY26–30 at its Annual Plan Meeting on April 17–18, 2026, in Kolkata, targeting production growth from 4.21 MTPA to 12.20 MTPA, reviewed by Deloitte. Spending peaks in FY29 at ₹2,227.18 crore. PAT is projected to rise from ₹589 crore in FY26 to ₹1,568 crore by FY30, with dividends growing from ₹177 crore to ₹470 crore over the same period. The Rakha Mining Lease commences operations in Q4 FY26–27.
Adani Energy Solutions: Financial Results Due April 23; Operational Data Strong
Adani Energy Solutions’ board meets April 23 to approve audited Q4 FY26 financial results, with an investor call scheduled for April 24, per exchange filings. Provisional operational data already filed shows the transmission network expanded to 27,949 circuit kilometers (ckm) from 26,696 ckm in Q4 FY25, system availability held at 99.77%, and the Mumbai HVDC project was commissioned, adding 1,000 MW of capacity. The company crossed 1 crore cumulative smart meter installations, with a total order book of 2.46 crore meters valued at ₹29,519 crore. Financial results are not yet published as of 06:33 IST on April 23.
SBI Life Q4: PAT −1.1%, Premium Income +16%
SBI Life Insurance reported Q4 FY26 PAT of ₹804.64 crore, down 1.09% from ₹813.5 crore in Q4 FY25, per audited results filed April 22. Net premium income rose 16% to ₹27,683.79 crore. The VNB margin contracted to 28.35% from 30.6%, and the solvency ratio dipped to 190% from 196%, still above the regulatory minimum of 150%. For full-year FY26, net premium income crossed ₹99,955.92 crore, up 18.91%.
Alkem Labs: CEO Vikas Gupta to Exit; No Successor Named
Alkem Laboratories CEO Dr. Vikas Gupta is expected to leave within months, per industry sources. No replacement has been announced, and Alkem has made no formal disclosure to stock exchanges as of April 23, 2026. Gupta joined on September 22, 2023, and led Alkem’s chronic therapy push, delivering a 13.1% sales CAGR over five years against a sector average of 10.5% and its upcoming semaglutide-based weight-loss drug launch. Analysts carry a consensus ‘Hold’ with a ₹5,930 target price.
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FAQ
What are Infosys’s Q4 FY26 expected results?
Brokerages tracked by Business Standard estimate PAT at ₹7,508.6 crore (up 4% YoY) and revenue at ₹46,567 crore (up 13.7% YoY). Results are due April 23 at 3:45 p.m. IST. FY27 guidance is the key number to watch. Motilal Oswal expects 1.5–4.5% CC; PL Capital expects 4–6% CC.
What is the Jio Financial Allianz JV deal?
A binding 50:50 general and health insurance JV executed April 22, 2026, at 5:32 p.m. IST. Subject to IRDAI approval. Both firms are also working on a separate life insurance agreement.
What is Trent’s bonus issue ratio and dividend?
Trent approved a 1:2 bonus issue and a ₹6-per-share dividend (600% of face value), both subject to AGM shareholder approval.
What is Hindustan Copper’s FY30 production target?
HCL targets 12.20 MTPA by FY30, up from 4.21 MTPA in FY26, backed by ₹7,188.60 crore in capex. PAT is projected at ₹1,568 crore by FY30.
Who is replacing Alkem Labs CEO Vikas Gupta?
No successor has been named or announced as of April 23, 2026. Alkem has made no formal disclosure to stock exchanges on the transition.
