Bank of Baroda stock dipped as much as 8% to Rs 168 on the BSE in intra-day trade after the Central Bureau of Investigation (CBI) on Saturday carried out searches at the bank’s branches in New Delhi for alleged foreign exchange violations.

Besides alleged "illegal transfers" of foreign exchange of over Rs 6,000 crore from a branch in Delhi, a Rs 350-crore bill discounting scam in Gujarat has also damaged the bank's reputation.

The sale of promoter stake in DLF’s rental subsidiary and investments of the proceeds in reducing debt is a positive move.

Promoter’s have 40% stake in the rental subsidiary, DLF Cycber City Developers or DCCDL while DLF holds the rest. DLF board last week had accepted the audit committee’s report that the promoters sell their holdings in DCCDL to third party institutional investors.

Despite posting a strong financial quarter in terms of revenue growth and profitability, Infosys indicated some weakness ahead when it cut its revenue guidance for the full year.

The Bengaluru-based company said it is now expecting its dollar revenue for FY16 to grow between 6.4–8.4% as against the earlier projected 7.2–9.2%, indicating some weakness in deal flows going forward.

Twin explosions outside the main train station in the Turkish capital Ankara killed at least 30 people on Saturday as hundreds gathered for a peace rally, in what government officials described as a terrorist attack.

A Reuters reporter saw at least 30 bodies covered by flags and banners, including those of the pro-Kurdish opposition Peoples' Democratic Party (HDP), with bloodstains and body parts scattered on the road.

The Central Bureau of Investigation on Saturday carried out searches at Bank of Baroda branches in New Delhi in connection with the alleged transfer of Rs 6100 crore black money to Hong Kong.

The transactions were allegedly carried out with the collusion of bank officials. The unusual remittances were spotted in the audit report of the bank, CBI sources said.

NEW DELHI: Income Tax department on Saturdaysaid a tax demand notice has been served on Nokia India after it completed an assessment for 2010-11 in August this year in the existing dispute over royalty payments to its parent company.

"An assessment order was passed in the case of Nokia India Pvt Ltd for Assessment Year (AY) 2010-11 in August 2015. The tax demand raised by this order was primarily based on issues arising from earlier orders," a tax department statement said.

Calcutta, Oct. 9: A tweak in the global production strategy by Korean automobile major Hyundai has led to shrinking exports from the company's Indian arm.

Hyundai Motor India, which is still the largest car exporter, has recorded a 10.98 per cent dip in exports in April-August over the same period a year ago, according to the Society of Indian Automobile Manufacturers.

New Delhi, Oct. 9: Delhi chief minister Arvind Kejriwal today sacked a cabinet minister over corruption allegations, making the announcement at a news conference and daring the BJP to take similar action against its leaders accused of wrongdoing.

Kejriwal also announced a CBI probe into allegations that food and civil supplies minister Asim Ahmed Khan had demanded a bribe of Rs 6 lakh from a builder.

Mumbai: The Indian rupee on Friday strengthened past the 65 mark against the US dollar, tracking gains in the Asian currencies market.

The rupee closed at 64.74 per dollar, up 0.53% from its previous close of 65.08.

Axis Bank has launched a comprehensive suite of mobile and tablet based solutions for corporates, offering the entire gamut of transaction banking products and services. The mobility solutions would enable corporates to carry out payments, trade and forex transactions, while on the move, the bank said.

“We are the first bank to provide our corporate customers with mobility related banking products and help them to transactions while on the move.

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