Goldman Sachs cut its CEO David Solomon's 2020 salary by $10 million to $17.5 million due to the bank's role in the 1MDB Malaysian bribery scandal. Goldman Sachs pleaded guilty in Oct over its role in the scandal and agreed to pay nearly $3 billion to close US investigations. Former Malaysian leader Najib Razak was sentenced to 12 years in jail on corruption charges linked to the scandal.

RPG Life Sciences Limited on Monday revealed its financial results for the Q3 and 9M ending on December 31, 2020. The company engaged in the manufacturing and marketing of pharmaceutical products, posted a jump in profits by 64% YoY and by 16% QoQ for Q3FY21. The Profit before Tax (PBT) stood at Rs17.07cr up from Rs10.41cr, a growth of 64% YoY.

On MCX, Gold Futures were declined by 0,62% trading at Rs48,840 per 10gm. The 05Feb2021 Gold Futures experienced a dip for the fourth day in a row. Silver futures, too, shed 0.56% to trade at Rs66,160 per kg, on the exchange. The prices have fallen amid weak rates on the global markets. Additionally, buyers are treading cautiously, expecting delays in US stimulus packages.

Benares Hotels Limited (BHL), a subsidiary of The Indian Hotels Company Limited (IHCL), announced its Q3FY21 revenue at Rs9.8cr compared to 23.1cr in Q3FY20. The company’s EBITDA during the December 31 ended third quarter stood at Rs2.7cr compared to Rs8.9cr in the previous year. Profit after Tax declined 90% YoY to Rs0.5cr in Q3FY21 compared to Rs5.2cr in Q3FY20.

The Tenth Series of Sovereign Gold Bonds of FY2020-21 are now listed on the NSE. The exchange announced on Monday that the Series X of SGBs will be available for trading w.e.f. January 27, 2021. The face value of each of these gold bonds is Rs5,104 according to NSE's data. While each carries an interest rate of 2.50%.  The interest payment will be carried out on a half-yearly basis.

GameStop Corp stocks witnessed a steep climb by nearly doubling its price during exchange hours and then surging another 50% after being name-checked in a tweet by Elon Musk. Its market value flew past the $10 billion mark via a year-to-date rally that is pushing 700%. GameStop is now worth more than 10% of S&P 500 stocks including American Airlines Group Inc., Under Armour Inc. and Invesco Ltd.

INR opened marginally higher at 72.94 per dollar on Wednesday against Monday's close of 72.95, amid selling seen in the domestic equity market. On Jan 25, the rupee ended flat at 72.95 per dollar against Friday's close of 72.97. Sugandha Sachdeva VP-Metals, Energy & Currency Research, Religare Broking stated that they expect the Indian rupee to hover in the range of 72.50-73.50 in the near term.

Tech Mahindra has been acclaimed as the only Indian organisation amongst the ‘2021 Global 100 Most sustainable corporations in the World’ by Corporate Knights. The software giant is ranked #1 in India and #72 globally in the list of World’s 100 Most Sustainable Corporations for delivering superior financial performance and leading the race to zero emissions economy.

Larsen and Toubro (L&T) announced a 4.9% YoY growth in Q3 FY21 consolidated profit at Rs 2,467 crore on the back of highest-ever orders in a quarter on January 25. Consolidated revenue from operations stood at Rs 35,596.4 crore for the quarter ended December 2020 down by 1.8% YoY. Brokerages like Sharekhan, Motilal Oswal, and Dolat Capital maintain a buy rating on the stock.

Apple is shifting manufacturing base of its Mac, iPads, and iPhones to India and Vietnam, a move signalling accelerated diversification, despite hopes that US President Joe Biden will ease trade tensions with China. The company will start manufacturing iPads in Vietnam by “as early as” mid-2021 and will begin producing its first 5G smartphones the iPhone 12 series in India.

AstraZeneca PLC was sued by a pension fund for suffering losses because of flaws in the company’s coronavirus vaccine testing. The pharma company was touting strong progress in vaccine development and announced that it had signed contracts to provide 400 mn doses. However, health officials faulted the testing for a lack of data on the vaccine’s effectiveness for those 55 and older.

Tata Motors stocks experienced a lot of traction of late amid new launches, price hikes, and media reports of a possible partnership with Tesla. Shares of the automaker have climbed 52% in Jan so far against a 13% gain in the BSE Auto index. Sensex has gained just 1.25% in this period. The company's emphasis on cost-control has helped it in gaining operational efficiency while boosting cash flows.

The fourth-quarter revenue at Johnson & Johnson witnessed robust sales thanks to a sharp climb in prescription drug sales. However, the coronavirus pandemic reduced the sales of contact lenses, surgical equipment and other medical devices used in procedures at hospitals. J&J gave its first financial forecast for 2021, saying it expects sales of $90.5 billion to $91.7 billion.

Axis Bank will report its Q3 earnings on Jan 27 wherein brokerages expect the lender to report modest growth in loan and deposit even though net interest income may see a double-digit hike. They further point out that the Dec quarter will be the first quarter which would reflect the underlying business trend, especially on the asset quality, if the regulator allows them to recognize stress.

Sebamed is eyeing a steep 10 times growth in the next five years, according to a top company official. The company had recently tried to disrupt the FMCG market with its comparative advertisements claiming higher pH in the beauty soaps of the market leader HUL. It has now decided to invest in brand building and is planning to pace up its distribution network.