BILKUL BAZAAR— The Daily News Wrap
Bilkul Bazaar
9 October 2026 | 9 PM, 09 October – 9 PM, 10 October
National Business News Highlights
1. Jio Platforms Targets ₹10.3 Lakh Crore Valuation for Mega IPO
Jio Platforms is targeting a valuation of approximately ₹10.3 lakh crore for its proposed IPO, with plans to raise around ₹30,200 crore. The offering could become India’s largest public listing, with proceeds expected to help repay borrowings at Reliance Jio Infocomm.
2. RBI Announces Measures to Support the Rupee
The Reserve Bank of India introduced measures to reduce pressure on the rupee, including a special dollar-supply facility for Indian Oil, BPCL and HPCL. It also tightened rules governing foreign-exchange derivatives as the currency approached record lows.
3. TCS Reports Growth in Revenue and Profit
Tata Consultancy Services reported September-quarter revenue of ₹74,525 crore, up 11.78% year-on-year, while net profit increased nearly 15% to ₹13,884 crore. Its annualised AI revenue exceeded $3 billion, highlighting the growing contribution of artificial intelligence to its business.
4. Zetwerk Prepares for Proposed ₹4,500-Crore IPO
Manufacturing-services company Zetwerk is reportedly preparing for an IPO that could raise up to $525 million, or approximately ₹4,500 crore. The proposed listing would give investors an opportunity to participate in India’s expanding manufacturing and industrial-services sector.
5. DailyObjects Raises ₹332 Crore in Series C Funding
Lifestyle-tech accessories brand DailyObjects raised ₹332 crore in a funding round led by institutional investors. The company plans to expand its retail footprint, with a target of opening 150 stores as it builds its presence in India’s consumer accessories market.
6. AI Talent Gap Emerges as Major Challenge for Indian Industry
India could require around 1.4 million AI professionals in 2026, compared with an estimated available talent pool of 400,000. The projected gap highlights the pressure on technology companies and educational institutions to strengthen AI training and workforce development.
7. GST Council Proposes Changes for Small Online Sellers
Proposed GST changes seek to simplify registration for small online sellers and clarify tax treatment for e-commerce transactions. If implemented, the measures could reduce compliance hurdles for smaller businesses selling through digital platforms.
8. India’s Foreign Exchange Reserves Face Fresh Pressure
India’s foreign exchange reserves fell by $12.95 billion to $734.61 billion in the week ended October 2. Currency-market volatility and pressure on the rupee have kept reserve movements and the RBI’s foreign-exchange interventions in focus.
9. Indian IT Firms Assess Impact of US Green-Card Restrictions
Indian IT companies are assessing the consequences of US restrictions affecting permanent labour-certification applications at several technology firms. Companies have pointed to increased local hiring and reduced dependence on overseas staffing, although prolonged restrictions could affect costs and talent mobility.
10. Cochin Shipyard Plans ₹6,000-Crore Expansion
Cochin Shipyard has outlined an expansion plan involving ₹4,000 crore for a steel-block facility at Vallarpadam and ₹2,000 crore for capacity additions in Thoothukudi. The proposed investment aims to strengthen shipbuilding and related industrial capacity.
International Business News Highlights
1. Nvidia-Backed Firmus Technologies Cancels $31-Billion IPO
Australian data-centre operator Firmus Technologies cancelled its proposed $31-billion IPO, citing market volatility and prevailing conditions. The decision has raised questions about investor appetite for expensive AI infrastructure ventures that require substantial upfront investment.
2. Oil Prices Ease as US Pauses Planned Strikes on Iran
International crude prices moved lower after US President Donald Trump announced a pause in planned military strikes on Iran ahead of the November midterm elections. China also resumed fuel exports following its Golden Week holiday, easing some concerns over global fuel supplies.
3. EU and China Reach Agreement on Electric-Vehicle Trade
The European Union and China reached an agreement aimed at addressing tensions over Chinese hybrid-electric-vehicle exports to Europe. The arrangement also involves China’s commitment to facilitate rare-earth exports, a key input for several industrial and technology sectors.
4. Samsung Projects Record Quarterly Operating Profit
Samsung Electronics estimated third-quarter operating profit at approximately 107.4 trillion won, or $80.2 billion, representing a sharp increase from a year earlier. Strong demand for AI-related semiconductors has supported the broader chip industry’s growth.
5. UNCTAD Warns of Slower Global Economic Growth
The United Nations Conference on Trade and Development projected global economic growth of 2.6% in 2026, down from 2.9% in 2025. Higher energy costs and geopolitical tensions are expected to weigh on economic stability, with developing economies facing particular challenges.
Daily Quote
“The purpose of a business is to create a customer.”
— Peter F. Drucker
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