The Central Bank of the UAE levied a financial sanction of approximately Rs13.56cr on the Bank of Baroda's GCC Operations, Dubai. BoB was penalised for deficiencies in compliance of Federal Laws based on Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organizations. BoB is exploring all necessary options to file an appeal against the financial sanctions.

Chinese social media giant Bytedance, the parent of Tiktok and Helo apps, has announced the shut-down of its India business following continued restrictions on its services in the country. The company executives have communicated the decision of the company that it is reducing team size and the decision will impact all employees in India.

Reliance Industries Limited confirmed the rebranding of its Sports & Lifestyle business to ‘RISE Worldwide Limited’ as it independently ventures into the burgeoning industry in India and globally on Wednesday. RISE Worldwide will continue to drive the full portfolio of owned and operated brand properties formerly under the banner of IMG-Reliance Limited.

Tata Elxsi partners Syntiant Corp. to aid manufacturers design and develop low-power always-on voice applications across multiple product categories, such as smart home devices and consumer electronics, as well as industrial and automotive use cases. The agreement aims to provide end-to-end solutions and services for customers using Syntiants deep learning Neural Decision Processors.

Jyoti Laboratories announced a 13.27% increase in revenues for the Dec-20 quarter on a consolidated basis at Rs476.62cr. In terms of business verticals, Jyoti saw YoY growth in Fabric Care, Dish Washing, household insecticides and personal care products. The consolidated profit after tax (PAT) for the Dec-20 quarter was up 18.24% at Rs53.23cr on better operational performance in the quarter.

Shares of Sterling & Wilson Solar (SWSL) commissioned its second project in Oman. The 25 MW solar project was awarded to the company by global energy company Shell. SWSL commissioned this project on time with more than 300,000 safe man-hours during the pandemic by following all the necessary safety protocols and measures.

Apple is expected to report its quarterly results on January 27 and analysts expect India to make a prominent appearance in the company’s data. The tech giant had its best quarter yet in India, having shipped 1.5 million iPhones in the country for the quarter ended December 2020. This is a sharp 100% growth YoY, according to data revealed by CyberMedia and Counterpoint.

RIL's stocks continued its downward trend on Wednesday as subdued Q3 numbers, concerns over corporate transparency and clouds over its bid to buy Future Group businesses kept investors away. The stock has already fallen over 10% in the last 3 sessions. It was down 1.77% to Rs 1,905 on Wednesday and was the top drag on Nifty and Sensex.

TCS brand value hiked by $1.4 billion in 2020, the highest among software companies globally, according to Brand Finance 2021 report. The IT services provider's brand value stood at $14,924 million in 2021 as opposed to $13,499 million in 2020. The growth in the brand value of $1.4 billion is the highest absolute growth among the 25 firms assessed in the IT services space.

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.