U.S. stocks rallied as investors grew optimistic that recent federal spending will revive growth and bolster corporate earnings. Treasuries were little changed while the dollar weakened. The Nasdaq 100 Index jumped more than 2% and the S&P 500 Index rose to an all-time high. The broader measure is poised for the best first-day reaction to an elected president’s inauguration since Jan.

Procter & Gamble reported another quarter of strong sales growth Wednesday and expressed confidence it would keep up the good run after the coronavirus pandemic has waned. P&G, which makes Mr. Clean, Tide, Pampers and other household goods, lifted its full-year profit and sales targets after scoring an eight percent sales jump in the second quarter.

Global venture capital (VC) fund Antler is planning to invest over $100 million across Indian technology startups in the next four years, it said on January 20. The Singapore-headquartered VC firm, present in 11 locations around the world, has till now invested in over 160 technology-companies. With the $100 million fund, the firm plans to back 150 Indian startups over the course of next 4 years.

SEBI granted approval to the deal between Kishore Biyani-led Future Group and Reliance Retail, an arm of the Mukesh Ambani-led Reliance Industries (RIL) on January 20. In August 2020, Biyani had entered into a Rs 24,713 crore agreement with Reliance Retail. As part of the pact, Future Group was to sell its retail, wholesale, logistics and warehouse businesses to Reliance Retail Retail Ventures.

SBI Mutual Fund on Wednesday unveiled its flagship retirement benefit fund, aimed at long-term investing. Through the new fund offer (NFO), which closes on 3 February 2021, the company is targeting to collect ₹2,000 crore. The fund offers four investment plans across a range of risk-profile — aggressive, aggressive hybrid, conservative hybrid and conservative.

Joe Biden might propose an Immigration Bill that will considerably ease the green card process and reduce time to citizenship for applicants, immigration experts told ET, in a move that is expected to benefit thousands of Indian nationals. The Bill is likely to be introduced soon after Biden’s inauguration on 20 January. Indians currently face a decades-long wait for green cards.

The CCI on Wednesday allowed the stake acquisition in Max Life Insurance Company by Axis Bank, Axis Capital and Axis Securities. At present, the bank holds about 1% stake in Max Life and is also the biggest distributor of the insurer's products through banking channel. After the deal, Axis Capital Ltd and Axis Securities will acquire 2% and 1%, respectively.

The Competition Commission of India (CCI) on Wednesday allowed the ₹1,500-crore Flipkart-Aditya Birla Fashion and Retail Ltd (ABFRL) deal, which was announced last October. It will help Aditya Birla Fashion cut its debt and expand into new apparel categories and give Flipkart a significant edge over Amazon and consolidate its position in the apparel business.

Commodities Guru Jim Rogers says the new breed of investors who entered the market during the Covid crisis and before should know that investing works best only when one knows what she is investing in. “One should only invest in what s/he knows about. Do not listen to hot tips, or me. Everybody wants hot tips. Those would bankrupt you, ruin you,” the American investor said.

Sundaram Finance on Wednesday confirmed the appointment of Rajiv Lochan as the new MD of the company with effect from April 1. TT Srinivasaraghavan, the current MD, completes his term on March 31 and is retiring from service after 38 years with the company. Under Srinivasaraghavan’s tenure as MD, the company grew its balance sheet from under Rs 800 crore to over Rs 30,000 crore currently.

Larsen & Toubro Infotech on Tuesday announced a 37.85% jump in net profit to Rs 519.3 crore for the December quarter, mainly driven by a surge in revenue and margin expansion. The IT arm of engineering major L&T had posted a net profit of Rs 376.7 crore in the year-ago period. It reported a 12% increase in revenues to Rs 3,152.8cr for the quarter as against Rs 2,811 cr a year ago.

ICICI Direct has worked out its Q3 (October-December’ 20) earnings estimates for the Banking & Financial Services sector. The brokerage house expects Axis Bank to report net profit at Rs. 2,448.3 crore up 39.3% year-on-year (up 45.5% quarter-on-quarter). Net Interest Income (NII) is expected to increase by 14.7 percent Y-o-Y (up 1 percent Q-o-Q) to Rs. 7,402.8 crore, according to ICICI Direct.

BharatPe has raised INR 50 Cr ($7 Mn) in from Trifecta Capital, as a part of its plan to raise $700 Mn of debt in the next two years. BharatPe plans to utilise the fund to increase its loan book to INR 5,000 Cr by 2022 and focus primarily on lending for growth. The platform has spent the initial two years in focusing on product building, gaining more clients, and building a dedicated team.

ICICI Direct revealed its Q3 (October-December’ 20) earnings estimates for the Banking & Financial Services sector. The brokerage house expects DCB Bank to report net profit at Rs. 80 crore down 17.2% year-on-year (down 2.8% quarter-on-quarter). Net Interest Income (NII) is expected to increase by 8.2% Y-o-Y (up 4.7% Q-o-Q) to Rs. 349.7 crore, according to ICICI Direct.

ICICI Direct worked out its Q3 (October-December’ 20) earnings estimates for the Banking & Financial Services sector. The brokerage house expects IDFC Bank to report net profit at Rs. 135.6 crore (up 34.3% quarter-on-quarter). Net Interest Income (NII) is expected to decrease by 3.3 percent Y-o-Y (up 11.8 percent Q-o-Q) to Rs. 2,044 crore, according to ICICI Direct.