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EU and Mercosur seal major trade deal

The European Union (EU) and the Mercosur bloc of South American countries have signed a historic free trade agreement, ending more than 25 years of negotiations. The deal, signed on January 17, 2026, in Paraguay, is expected to create one of the world’s largest trade zones, connecting over 700 million people and boosting economic ties between the two regions.

Mercosur includes Argentina, Brazil, Paraguay, and Uruguay. Bolivia is not part of the deal yet, and Venezuela remains suspended from the bloc. The agreement aims to gradually remove most tariffs on goods traded between the EU and Mercosur, including cars, machinery, and chemicals. This is expected to save businesses billions in customs fees and make products cheaper for consumers.

European Commission President Ursula von der Leyen called the deal a choice for “fair trade over tariffs,” highlighting its importance for Europe’s global trade strategy. Argentina’s President Javier Milei also welcomed the pact, viewing it as a boost for free trade and economic growth.

The agreement still needs approval from the European Parliament and the national parliaments of Mercosur countries before it comes into effect. Some European farmers and environmental groups have expressed concerns, fearing that cheaper imports could hurt local agriculture and worsen environmental issues, like deforestation. To address this, the deal includes quotas and safeguards, and the EU has promised support for its farming sector.

Supporters say the pact is not just about trade—it also strengthens political and economic ties between Europe and South America. Analysts note it could serve as a model for other large trade agreements in a time of rising global protectionism and supply chain challenges.

Once fully implemented, the EU-Mercosur deal is expected to increase exports, lower costs for consumers, and encourage investment in industries across both regions.

Also Read: Tata Motors pushes for budget relief for entry-level EVs

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Tata Motors pushes for budget relief for entry-level EVs

Tata Motors has appealed to the Indian government to provide financial incentives for entry‑level electric vehicles (EVs) in the upcoming Union Budget 2026, citing rising costs that are making affordable EVs less competitive compared to petrol cars. The company’s Managing Director and CEO, Shailesh Chandra, highlighted that while recent reforms such as GST changes and lower interest rates have revived passenger car sales, entry‑level EVs continue to face cost pressures that could slow adoption.

Chandra explained that the recent reduction in GST for petrol cars has narrowed the price gap between conventional vehicles and electric models, putting entry‑level EVs at a disadvantage. He urged the government to consider targeted incentives to make these cars more affordable for the mass market.

In addition to entry‑level vehicles, Tata Motors is also seeking support for fleet EVs under the PM E‑DRIVE scheme. Currently, fleet electric cars—which make up around 7% of passenger vehicle sales but contribute one-third of total passenger kilometres travelled, are not covered under the scheme. Tata Motors argues that including fleet EVs would not only encourage adoption but also have a larger environmental impact, reducing emissions and dependence on imported fuel.

The company also flagged the impact of rising commodity prices and foreign exchange fluctuations, which have squeezed profit margins by an estimated 2%, largely absorbed by the company so far. Chandra indicated that Tata Motors may need to adjust vehicle prices in the coming months to manage costs, a trend reflected in recent price hikes by other automakers.

By seeking these measures, Tata Motors aims to ensure that electric vehicles remain competitive with petrol cars, particularly for price-sensitive buyers and fleet operators.

Also Read: Gold at ₹1,43,770, Silver slips below ₹2.95 lakh

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Sensex slumps 500+ points, Nifty slips below 25,550

Markets opened on a weak note on Monday, as global trade concerns and mixed corporate earnings weighed on investor sentiment. The BSE Sensex fell over 500 points in early trade, while the Nifty 50 slipped below the 25,550 mark, tracking negative global cues.

Markets turned cautious after renewed fears of trade tensions following comments from US President Donald Trump on possible tariff hikes. This led to selling pressure across global equity markets and prompted investors to reduce exposure to risk-heavy assets.

On the sectoral front, banking, energy and real estate stocks were among the biggest losers. Heavyweights such as Reliance Industries and ICICI Bank declined 2–3 percent, dragging the benchmark indices lower. ICICI Bank shares slipped after reporting a weaker-than-expected quarterly performance, while Reliance faced selling pressure despite stable earnings, as investors booked profits.

Other major losers included stocks from the PSU banking and metal space, as concerns over global growth and foreign fund outflows persisted. Foreign Institutional Investors (FIIs) remained net sellers, adding to market weakness, while Domestic Institutional Investors (DIIs) offered limited support.

However, losses were partially capped by gains in IT and pharmaceutical stocks. Shares of leading IT companies moved higher as the rupee weakened slightly against the US dollar, improving export earnings outlook. Select pharma stocks also gained on expectations of steady demand and defensive buying.

In individual stock action, Bharat Coking Coal Ltd (BCCL) made a strong debut on the stock exchanges, listing at a premium to its issue price. The positive listing reflected healthy investor demand for quality public sector offerings, even amid broader market volatility.

In the broader market, mid-cap and small-cap indices also traded lower, indicating cautious investor mood across segments. Market experts said volatility may remain elevated in the near term due to global economic uncertainties, earnings announcements and geopolitical developments.

Also Read: India’s first $10bn green ammonia venture in Andhra

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L&T wins major petronet LNG project

Engineering and construction major Larsen & Toubro (L&T) has secured a large order from Petronet LNG for a key petrochemical project in Gujarat, strengthening its position in India’s energy infrastructure space. The contract has been awarded to L&T’s Hydrocarbon Onshore business and falls under the company’s “large” order category, which typically implies a value ranging between ₹2,500 crore and ₹5,000 crore.

Petronet LNG is a joint venture promoted by four state-run energy majors — ONGC, Indian Oil Corporation, GAIL (India) and Bharat Petroleum Corporation. The company has commissioned L&T to execute the project at its Dahej Petrochemical Complex on a lump sum turnkey basis, covering engineering, procurement, construction and commissioning.

As part of the project scope, L&T will build advanced cryogenic storage infrastructure to support downstream petrochemical operations. This includes a 170,000 cubic metre LNG/ethane double-wall storage tank and a 140,000 cubic metre propane double-wall storage tank. In addition, the company will develop associated facilities for handling, storage and dispatch of ethane and propane, which are essential feedstocks for petrochemical manufacturing.

The Dahej facility is being developed as India’s first integrated petrochemical complex to leverage “cold energy utilisation” from an LNG terminal. This innovative approach is expected to improve energy efficiency by using the cold energy released during LNG regasification in downstream petrochemical processes. The project will support the production of polypropylene through propane dehydrogenation (PDH) units, helping reduce India’s dependence on imported polymers.

L&T said the order reflects its strong capabilities in executing complex hydrocarbon projects that require high levels of technical expertise, safety compliance and timely delivery. The company has a long track record in building large-scale oil, gas and petrochemical infrastructure in India and overseas.

The contract win is also aligned with India’s broader push to expand domestic petrochemical capacity and strengthen value addition within the country. Market participants view the order as a positive development for L&T, reinforcing its robust order book and steady flow of large domestic projects.

Also Read:  Grasim appoints Sachin Sahay as Birla Opus CEO

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Nvidia’s H200 chip blocked in China

Nvidia, led by CEO Jensen Huang, has run into an unexpected hurdle in China, as customs authorities have blocked shipments of the company’s advanced H200 artificial intelligence (AI) chip. The sudden move has forced suppliers to pause production, creating uncertainty for Chinese tech companies eager to use the processor.

The H200 chip, one of Nvidia’s most powerful AI products, had been cleared for export by the US government, and Huang’s team was preparing to start shipments as early as March. Nvidia had also ramped up component production to meet strong demand from Chinese clients.

However, Chinese customs recently informed logistics agents that the H200 would not be allowed into the country. Officials did not give a reason, leaving the company and its partners uncertain whether the block is temporary or part of a broader policy.

Many components made for the H200 are highly specialised and cannot easily be repurposed, prompting suppliers to halt production to avoid building unsellable inventory. Chinese authorities have also reportedly advised local tech firms to avoid buying the chips unless essential, further dampening demand.

Neither Nvidia nor Chinese officials have publicly commented on the blockage. For Huang and his team, the future of H200 shipments to China remains uncertain as the global AI chip trade faces growing complexity.

Also Read: Reliance Industries Q3 revenue up 10% on digital, O2C strength

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Reliance Industries Q3 revenue up 10% on digital, O2C strength

Reliance Industries Ltd (RIL) delivered a steady financial performance in the third quarter of FY26, reporting a 10 per cent rise in consolidated revenue compared to the same period last year.

The growth was largely driven by strong momentum in its digital services, oil-to-chemicals (O2C) and retail businesses, helping the company navigate challenges in its oil and gas exploration segment.

For the October–December quarter, RIL posted consolidated revenue of nearly ₹2.9 lakh crore. Net profit rose marginally by about 1.6 per cent year-on-year to around ₹22,300 crore, while EBITDA increased by about 6 per cent, reflecting stable operating performance across key verticals.

The digital services arm, led by Jio Platforms, remained a major growth engine. Jio recorded healthy increases in revenue and operating profit, supported by strong subscriber additions, rising data consumption and continued expansion of its 5G and home broadband services. The company benefited from higher average revenue per user and growing adoption of digital offerings.

The oil-to-chemicals business also reported a solid quarter. Revenue and earnings improved on the back of better refining margins, higher fuel demand and efficient operations across refineries and petrochemical plants. Despite a challenging global environment, the segment delivered stable performance and contributed meaningfully to overall earnings.

Reliance Retail continued to expand its footprint and recorded over 8 per cent growth in revenue during the quarter. However, profitability in the retail business remained under pressure due to higher operating costs, competitive pricing and the impact of regulatory changes affecting margins.

In contrast, the oil and gas exploration and production segment faced headwinds. Lower production from mature fields and softer price realisations weighed on the segment’s performance, partially offsetting gains from other businesses.

Commenting on the results, Chairman and Managing Director Mukesh Ambani said the company’s diversified business model helped deliver consistent performance despite global uncertainties. He highlighted the continued strength of consumer-facing and downstream businesses as key pillars of growth.

Also Read: Zerodha CEO slams market closure on BMC poll day

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Sensex gains 187 points, Nifty crosses 25,650

Indian equity markets closed higher on Friday, with the BSE Sensex rising 187 points and the Nifty 50 climbing past 25,650, as investors reacted positively to quarterly earnings and sectoral gains. The rally was led by strong performances in IT and banking stocks, which supported the broader market uptrend.

The session began with a positive momentum, and the Sensex touched early gains of over 300 points. Investor sentiment was boosted by robust results from major companies, particularly in the technology sector. Infosys shares jumped after the company raised its full-year revenue forecast, prompting buying across IT stocks. Wipro also saw a strong intraday rally ahead of its Q3 results.

Banking stocks contributed significantly to the gains, with HDFC Bank, ICICI Bank, and South Indian Bank leading the pack. Analysts highlighted expectations of solid profit growth for the upcoming quarterly announcements, attracting investor interest. The Bank Nifty crossed the 60,000 mark during the session, reflecting sectoral strength.

While domestic markets were upbeat, external factors added some volatility. The Indian rupee weakened past 90.80 against the U.S. dollar, marking its largest single-day drop in almost two months. Commodity prices were mixed, with gold softening on stronger U.S. economic data that reduced near-term rate cut expectations.

Globally, Asian markets showed uneven trends as investors weighed regional economic data and geopolitical developments. Despite this, the positive earnings momentum in India helped sustain domestic market gains.

Overall, Friday’s trading highlighted investor focus on corporate earnings and sectoral leadership, especially in IT and banking. Market analysts expect these sectors to continue influencing near-term market direction as quarterly results unfold.

Also Read: Sensex surges over 700 points, Nifty tops 25,850

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Moody’s improves outlook for 3 key Adani firms

Global credit rating agency Moody’s Investors Service has improved the outlook for three major Adani Group companies, changing it from negative to stable. The companies covered under the upgrade are Adani Ports and Special Economic Zone (APSEZ), Adani Transmission Step-One Limited, and Adani Electricity Mumbai Limited. Moody’s has also reaffirmed their investment-grade credit rating at Baa3.

The outlook upgrade comes after Moody’s reviewed the companies’ financial position and found improvements in liquidity, cash flow management, and overall financial stability. According to the agency, these companies are now better placed to meet their debt obligations over the next 12 to 18 months, supported by adequate access to funding.

Moody’s said Adani Ports, one of India’s largest port operators, benefits from flexible capital expenditure plans, diversified operations, and strong access to capital markets. These factors provide comfort on its ability to manage debt while continuing expansion plans.

For Adani Transmission Step-One and Adani Electricity Mumbai, the rating agency highlighted the stable and predictable nature of their revenues. As regulated utility businesses, both companies enjoy steady cash flows, which support their credit strength and liquidity position.

Reacting to the development, the Adani Group said the improved outlook reflects confidence in its financial discipline, governance standards, and long-term business strategy. The group added that the rating action underlines its continued focus on infrastructure development and nation-building, which remain central to its operations.

The upgrade is seen as a positive signal for the Adani Group, especially after a period of heightened scrutiny and cautious sentiment from global investors. A stable outlook suggests that Moody’s does not expect any immediate deterioration in the financial health of these companies.

However, Moody’s also noted that it will continue to closely monitor the group’s financial policies, debt levels, and execution of expansion plans. Any significant weakening in liquidity, aggressive debt-funded growth, or adverse regulatory developments could impact future ratings.

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Jio financial Q3 profit at ₹269 crore

Jio Financial Services Ltd reported a net profit of ₹269 crore for the third quarter ended December 31, 2025, supported by strong growth across its core businesses such as lending, payments and asset management.

The company’s total income more than doubled year-on-year to about ₹901 crore, reflecting higher activity in its operating segments. Income from core businesses now accounts for over half of total net income, a sharp rise from around one-fifth in the same period last year, showing improved diversification beyond treasury income.

The lending business continued to expand rapidly. Assets under management rose to ₹19,049 crore, nearly 4.5 times higher than a year ago, while loan disbursements almost doubled. This led to a strong increase in interest income and operating profit before provisions.

In the payments segment, transaction volumes and customer activity grew steadily, resulting in a sharp rise in fee and commission income. The company’s payments ecosystem also benefited from a wider user base.

Jio Payments Bank posted significant growth, with income rising multiple times compared to last year. Customer deposits and the number of active users also increased, reflecting higher adoption of digital banking services.

Also Read: Angel One Q3 profit dips to ₹269 crore

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Angel One Q3 profit dips to ₹269 crore

Angel One, one of India’s leading retail brokerage firms, reported a decline in net profit for the third quarter ending December 31, 2025. The company’s consolidated profit after tax (PAT) fell 4.5 per cent to ₹269 crore, compared with ₹281.5 crore in the same period last year. The drop was mainly due to rising operating costs, including higher employee expenses and charges from employee stock ownership plans (ESOPs).

Despite the dip in profit, Angel One posted growth in its overall revenue. Total income for the quarter rose about 5.8 per cent to ₹1,338 crore from ₹1,264 crore a year earlier. The revenue increase was driven by higher interest income as well as fees and commission earnings from its brokerage and related services.

Sequentially, the company showed strong performance. Compared with the previous quarter, PAT rose by around 27 per cent, reflecting improved operational efficiency and better cost management. Earnings before depreciation, amortisation, and taxes (EBDAT) also increased to ₹405 crore, signalling the company’s underlying business strength.

In addition to the quarterly results, the board approved key measures aimed at benefiting shareholders. Angel One announced an interim dividend of ₹23 per share. It also sanctioned a stock split in a 1:10 ratio, meaning each existing equity share of ₹10 face value will be divided into ten shares of ₹1 each. These steps are intended to make shares more affordable and improve liquidity, helping attract a wider base of investors.

Following the announcements, Angel One’s stock saw positive movement in the market, as investors welcomed the combination of revenue growth, sequential profit improvement, and shareholder-friendly corporate actions.

The company continues to expand its client base while strengthening its non-broking businesses, which are expected to support long-term growth. Analysts say Angel One’s efforts to diversify its services, combined with strong market presence, could help the firm navigate challenges in India’s financial markets and maintain steady growth in the coming quarters.

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