Top Stories | Rupee slips, Reliance Industries results, BMC results, India-EU FTA talks and more

Global cues remain mixed, with policymakers and economists cautioning that the world economy’s recovery, while showing modest improvement, remains fragile amid rising debt, geopolitical tensions and shifting trade ties. The World Economic Forum’s latest outlook flags shrinking fiscal space as a key risk, even as geopolitical developments—from Venezuela to Washington—continue to reshape global power dynamics.

Back home, trade and policy signals are in sharp focus. Commerce Minister Piyush Goyal has expressed confidence that an India–EU Free Trade Agreement could be wrapped up soon, calling it the “mother of all deals” and noting that no EU member is opposing the pact. Regulatory developments are also in the spotlight, with SEBI Chairman Tuhin Kanta Pandey playing down concerns over foreign investor exits and signalling upcoming reforms to ease registration and netting norms.

Markets, however, reflected near-term pressure. The rupee logged its biggest single-day fall in nearly two months, closing at 90.87 against the dollar, weighed down by global uncertainty and capital flow concerns. Equity sentiment was shaped by earnings and sectoral updates, as companies navigated currency volatility, cost pressures and regulatory changes.

On the corporate front, Reliance Industries delivered a steady Q3 performance, led by its digital and oil-to-chemicals businesses, while Jio continued to add subscribers and improve monetisation through 5G-led upgrades.

The IT sector posted a mixed showing, with Tech Mahindra missing profit estimates despite stronger revenues, and leading firms absorbing a one-time cost hit from new labour codes. Meanwhile, domestic politics stayed 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 takes—there’s plenty to unpack!



Rupee ends at 90.87, logs biggest single-day fall in nearly two months



The Indian rupee extended its losing streak on Friday, ending at 90.87 against the US dollar, compared with 90.30 per dollar in the previous session, marking its biggest one-day decline in nearly two months.

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Reliance Industries Q3 net profit at ₹18,645 crore led by O2C, digital businesses



Diversified conglomerate Reliance Industries Ltd (RIL) reported a steady quarterly performance, with consolidated net profit rising to ₹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 driven primarily by gains in its Digital Services and Oil-to-Chemicals (O2C) businesses.

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RIL Q3 Results: Jio’s user base crosses 515 million; ARPU climbs to ₹213.7 on 5G-led 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 steady upgrades to premium plans pushed average revenue per user (ARPU) to ₹213.7, up 5.1% year-on-year. The numbers underscore continued monetisation gains in India’s largest digital network.

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Also Read: RIL Q3 Results: Reliance Retail revenue rises 8% YoY to ₹97,912 crore



Tech Mahindra Q3 Results: Profit misses poll, revenue and margins beat estimates



IT services company Tech Mahindra Ltd on Friday (January 16) reported a net profit of ₹1,122 crore in Q3, compared with the CNBC-TV18 poll estimate of ₹1,385 crore. Revenue for the quarter stood at ₹14,393 crore, higher than the poll estimate of ₹14,209 crore.

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Also Read: Wipro Q3 Results: Fourth quarter revenue growth seen between 0% to 2%; Deal wins at $871 million





New labour code triggers ₹5,000-crore one-time hit for top IT firms



Five of India’s largest IT companies reported a combined additional expense of nearly ₹5,000 crore in the three months ended December 2025, following the implementation of the new labour codes that required revisions to wage definitions. The impact on the sector has been significant, given its large employee base.

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Piyush Goyal: India-EU FTA will be the ‘mother of all deals’; No EU member opposes



A Free Trade Agreement (FTA) between India and its largest trading partner, the European Union (EU), may soon become a reality, as Commerce and Industry Minister Piyush Goyal has indicated that there is "every possibility that we are getting a good deal by 27th January," when EU leadership is expected to meet India's Prime Minister Narendra Modi in New Delhi.

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Also Watch: Govt likely to hike FDI limit for defence firms with existing licences drom 49% to 74%





SEBI Chairman dismisses FPI exit fears, says outflows are cyclical; registration, netting reforms coming soon



Foreign portfolio investor (FPI) outflows from Indian markets over the past two years should not be seen as a sign of India losing favour with global investors, SEBI Chairman Tuhin Kanta Pandey said, asserting that overseas flows are driven more by global cycles and returns than by regulatory considerations.

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Trump accepts the Nobel medal presented by Venezuela’s opposition leader Machado



Venezuelan opposition leader Maria Corina Machado said she had presented her Nobel Peace Prize to US President Donald Trump on Thursday, January 15, during a high-stakes encounter that could affect how Trump seeks to shape the South American country’s political future.

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Economists warn debt and geopolitics cloud fragile global recovery: WEF report



The global economic outlook has improved modestly but remains fragile, with rising debt burdens, narrowing fiscal space and shifting trade relationships posing persistent risks, according to the World Economic Forum’s latest Chief Economists’ Outlook.

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BMC Election Results 2026: Ward-wise list of winning candidates in Mumbai



The counting of votes for the Brihanmumbai Municipal Corporation (BMC) elections began at 10 am on Friday across 23 centres in Mumbai, marking a crucial moment in the city’s civic politics after polling in all 227 wards on January 15.

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