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JioBlackRock’s entry into the stockbroking business means the pioneer versus late mover storyline will play out all over again. This time around, though, the challenge will most likely change Zerodha even if the earlier ones did not.

The central bank’s shift to a 100% collateral requirement threatens to erode leverage, reduce volumes and force a consolidation across prop desks.
The retired banker wants India’s top companies to invest in AI. But the capital, ambition, and urgency simply aren’t there.
While the payments company saw its first full year of profitability in FY26, the real progress will depend on whether it can continue to prove that it’s more than a POS company.