In our country, business and political signals are the center of attention. Commerce Minister Piyush Goyal expressed confidence that a free trade deal between India and the EU could be concluded soon, calling it the “mother of all deals” and noting that no EU member opposed the deal. Regulatory developments are also in the spotlight, with SEBI Chairman Tuhin Kanta Pandey downplaying concerns about the departure of foreign investors and signaling upcoming reforms to relax registration and clearing standards.
Markets, however, reflected short-term pressures. The rupee recorded its biggest one-day fall in almost two months, closing at 90.87 against the dollar, weighed down by global uncertainty and concerns over capital flows. Stock sentiment was shaped by earnings and sector updates, as companies dealt with currency volatility, cost pressures and regulatory changes.
On the business front, Reliance Industries reported a steady performance in the third quarter, driven by its digital and oil and chemicals processing businesses, while Jio continued to add subscribers and improve monetization through 5G-based upgrades.
The IT sector posted mixed results, with Tech Mahindra missing profit estimates despite higher revenues, and major companies absorbing a one-time cost due to new labor codes. Meanwhile, domestic politics remained in focus as vote counting continued for the BMC elections, setting the tone for Mumbai’s civic governance.
Stay with us for all the latest updates and expert opinions – there’s a lot to discover!
Rupee ends at 90.87, records biggest one-day fall in almost two months
The Indian rupee extended its losing streak on Friday, ending at 90.87 against the US dollar, compared to 90.30 per dollar in the previous session, marking its biggest one-day fall in almost two months.
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Reliance Industries third quarter net profit of ₹18,645 crore, led by O2C and digital businesses
Diversified conglomerate Reliance Industries Ltd (RIL) reported a steady quarterly performance, with consolidated net profit touching ₹18,645 crore in the third quarter, up from ₹18,165 crore in the previous quarter and higher than ₹18,540 crore a year ago. The performance was mainly driven by gains in its digital services and oil-to-chemicals (O2C) businesses.
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RIL Q3 Results: Jio User Base Crosses 515 Million; ARPU jumps to ₹213.7 on 5G-based upgrades
Reliance Industries Ltd’s (RIL) telecom arm Jio Platforms Ltd added nearly 9 million subscribers in the December quarter, taking its total user base to 515.3 million, as higher data consumption and regular upgrades to premium plans pushed the average revenue per user (ARPU) to ₹213.7, up 5.1% year-on-year. These figures highlight continued monetization gains across India’s largest digital network.
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Read also: RIL Q3 Results: Reliance Retail revenue rises 8% YoY to ₹97,912 crore
Tech Mahindra Q3 Results: Profits Miss Survey, Revenue, Margins Beat Estimates
IT services company Tech Mahindra Ltd on Friday (January 16) reported third-quarter net profit of ₹1,122 crore, compared to ₹1,385 crore as per CNBC-TV18 poll estimate. Revenue for the quarter stood at ₹14,393 crore, higher than the poll estimate of ₹14,209 crore.
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Read also: Wipro Q3 Results: Q4 revenue growth ranges from 0% to 2%; The deal is won at $871 million
New labor code triggers one-time ₹5,000-crore hit for big IT firms
Five of India’s largest IT companies reported a combined additional spend of nearly ₹5,000 crore in the quarter ended December 2025, following the implementation of the new labor code which required a review of salary definitions. The impact on the sector has been significant, given the large employee base.
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Piyush Goyal: India-EU FTA will be the ‘mother of all deals’; No EU member opposes it
A free trade agreement (FTA) between India and its largest trading partner, the European Union (EU), could soon become a reality, as Trade and Industry Minister Piyush Goyal indicated that there was “every chance that we will get a good deal by January 27”, when EU leaders are expected to meet Indian Prime Minister Narendra Modi in New Delhi.
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Also watch: Government expected to increase FDI limit for defense companies with existing licenses from 49% to 74%
SEBI Chairman Dismisses FPI Exit Fears, Says Capital Outflows Are Cyclical; registration and compensation reforms will soon be implemented
Exits of foreign portfolio investors (FPIs) from Indian markets over the past two years should not be seen as a sign of India’s loss of favor with global investors, SEBI Chairman Tuhin Kanta Pandey said, asserting that overseas flows are determined more by global cycles and returns than by regulatory considerations.
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Trump accepts Nobel medal from Venezuelan opposition leader Machado
Venezuelan opposition leader Maria Corina Machado said she presented her Nobel Peace Prize to US President Donald Trump on Thursday (January 15), in a high-stakes meeting that could affect how Trump seeks to shape the South American country’s political future.
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Economists warn that debt and geopolitics are clouding fragile global recovery, WEF report says
The global economic outlook has improved slightly but remains fragile, with rising debt burdens, shrinking fiscal space and changing trade relations posing lingering risks, according to the latest Outlook from the World Economic Forum’s chief economists.
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BMC Election Results 2026: Ward-wise list of winning candidates in Mumbai
Counting of votes for the Brihanmumbai Municipal Corporation (BMC) elections began at 10 am on Friday in 23 centers across Mumbai, marking a crucial moment in the city’s civic politics following polling in all 227 wards on January 15.
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