The Securities Appellate Tribunal today admitted Reliance Industries’ plea against a Sebi order banning it from equity derivatives markets and will hear the matter next on August 8, with the firm saying it should be allowed to invest its surplus funds, including through mutual funds. Reliance Industries’ counsel Harish Salve requested the tribunal to allow it to at least invest its surplus funds in established mutual funds till the time an order is passed. In response, the tribunal said that once the company makes a separate application, Sebi can consider it and take a decision as per applicable law.

Indian shares were nearly unchanged on Wednesday as key corporate results including that of ICICI Bank Ltd remained in focus, with investors also keeping an eye out for the outcome of a two-day policy meeting of the US Federal Reserve. The Fed is widely expected to stand pat on interest rates, but may offer hints on the possibility of a rate hike in June.

NEW DELHI: Bajaj AutoBSE 0.64 % today reported a marginal 1 per cent increase in motorcycle sales at 2,93,932 units in April this year.

The company had sold 2,91,898 units of motorcycle in the same month last year.

Microsoft is introducing a Surface device aimed at students.

The Surface Laptop is the first Surface device without a detachable keyboard.

"Sarkar 3", starring Amitabh Bachchan, got in a legal trouble after Narendra Hirawat & Co filed a case against the makers of the upcoming Ram Gopal Varma's directorial. The makers have denied the claims.

Holder of copyrights of over 1,300 movies, Narendra Hirawat & Co acquired the copyrights of "Sarkar" franchise after the release of the second part and is in possession of prequel, sequel, remake and all other irreversible world negative rights in perpetuity.

Hyundai Motor on Tuesday started online booking for its range of cars for ease of customers across India. The company aims to garner around 10 per cent of its sales through the new initiative.

"Hyundai is a customer centric and innovative brand with a strong focus on digitalisation.

Skoda, the Czech car maker and part of the Volkswagen group, is anticipating a push in its performance from 2019 when new products developed jointly with Tata Motors roll out. These products are targeted at emerging markets, including India.

“These will be products with the Skoda brand character but developed with Asian/Indian mindset in terms of ways of development, choice of materials and productivity levels and other strategies.

Infosys, India’s second largest software services firm, is planning to hire 10000 Americans over the next couple of years. The Bengaluru-headquartered company said it would open four new Technology and Innovation Hubs across the United States focusing on cutting-edge technology areas such as artificial intelligence, machine learning, user experience, emerging digital technologies, cloud, and big data.

Auto major Mahindra & Mahindra on Tuesday reported a 6 per cent decline in total sales at 39,357 units in April.

The company had sold 41,863 units in the same month last year, the company said in a statement.

Mumbai: India’s market regulator wants to relinquish powers to regulate collective investment schemes (CIS) which involve illegitimate pooling of public money after failing to successfully close even a single case, although the very presence of a regulator to investigate such schemes has to some extent acted as a deterrent to their launch.

Four years ago, the Securities and Exchange Board of India (Sebi) was empowered to act against Ponzi schemes and other illegal money pooling and deposit-taking activity.

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