Inside India - 23-Apr-26

Why It Matters

Rising oil prices and Middle East spillovers threaten inflation and corporate profits, prompting portfolio repositioning and downgrades that could weigh on Indian equity performance and regional growth. Continued shipping disruptions risk higher energy and trade costs, accelerating the case for renewable investment but raising near-term economic and market volatility.

Summary

Asian markets slid as oil topped $100 a barrel amid renewed tensions in the Strait of Hormuz, eroding earlier gains and prompting risk-off moves across the region. HSBC downgraded Indian equities to underweight, warning that high imported energy costs could pressure inflation, demand and corporate earnings, and flagging India as less attractive than Northeast Asian peers. Domestic pain was underscored by HCLTech’s weak guidance that wiped about $4.5 billion of market value, while Tesla launched a new Model Y in India after reporting an earnings beat alongside a sharp increase in capex for AI and chips. Shipping disruptions intensified: Iran seized two container ships, the US intercepted multiple Iranian tankers, and industry sources warned recovery of maritime trade will take months.

Original Description

Inside India (11:00 – 12:00 SIN/HK) focuses on India’s rapid ascent as a global economic force, and takes a look at the people and businesses behind its meteoric rise.