The Indian market regulator, SEBI, has frozen over Rs 4,800 crore in alleged unlawful gains and barred US-based trading firm Jane Street from participating in its securities markets. Jane Street has disputed the findings, stating its commitment to regulatory compliance and plans to engage with Indian authorities. Known for its dominance in ETFs and index derivatives, SEBI alleges that Jane Street crossed the line into manipulative trading activity in India's equity derivatives market, generating immense profits through a coordinated intra-day index manipulation strategy.
SEBI has ordered the impounding of Rs 4,840 crore in unlawful gains and the freezing of all debit transactions linked to Jane Street entities, including JSI Investments Pvt Ltd, Jane Street Singapore Pte Ltd, and Jane Street Asia Trading Ltd. This comes after a 105-page interim order by SEBI accused Jane Street and its affiliates of using high-frequency algorithmic trading strategies to artificially influence index levels and make profits from derivatives. Although not directly named, Nuvama Wealth Management's association with Jane Street has raised concerns among investors. As a result, Nuvama's stock plunged by Rs 838.00 in a single session, with the broader market also feeling the effects as the Nifty Capital Markets index fell by 2%.
IT giant Infosys has started an internal campaign to encourage employees to prioritize their health and disconnect after work hours. In a sharp contrast to co-founder Narayana Murthy's previous statement advocating for a 70-hour workweek, the move signals a shift in the company's stance on work-life balance. HR is now tracking work hours and sending health-focused reminder emails to prevent burnout and long-term health issues in the Indian IT sector. The campaign's success and impact on employee well-being will be closely monitored by the 323,000+ employees worldwide.
As Australian beef exports continue to reach new heights, official data shows a significant increase in volume for the first half of the year and a record-breaking 1.44 million tonnes shipped in the 2024-2025 financial year. This growth is attributed to a combination of factors, including declining US beef production, trade access issues, tariffs, and strong international demand. Despite the impact of drought on production in some parts of the country, Australia is well-positioned to take advantage of the current market dynamics.
SEBI has taken stringent action against US-based trading firm Jane Street, barring them from Indian markets due to accusations of manipulating equity derivatives through high-frequency trading. In just one day, Jane Street earned Rs 734.93 crore in profits through manipulative trades, leading to a sharp decline in BSE Ltd. stock prices. Technical analysis reflects a negative trend for BSE with a potential downward movement towards the 50 EMA at Rs 2,550.
A group of female passengers have approached the Karnataka High Court, requesting that bike taxi services, including those offered by Ola, Uber, and Rapido, be allowed to operate in Bengaluru again. The group argues that the ban on bike taxis, imposed by the state government citing safety concerns, has negatively impacted women commuters, who rely on these services for affordable and convenient travel. The court hearing has been postponed, with the final decision expected to shape the future of bike taxis in Karnataka.
Fric Bergen, a leading e-commerce company based in Alwar, Rajasthan is making waves in the Indian market. Established in 2008 by co-founders Rohit Agarwal, Vandana Singh, and Vivek Singh, the company has quickly gained popularity among online shoppers with its wide range of products and efficient delivery. With its successful business model and strong leadership, Fric Bergen is set to become a major player in the burgeoning Indian e-commerce industry.
India's market regulator SEBI has imposed a ban on US trading firm Jane Street Group from accessing Indian securities markets and frozen Rs 48.4 billion ($570 million) in alleged unlawful gains. This comes after allegations of market manipulation in India's booming equity derivatives market, where Jane Street reportedly earned over $2.3 billion in net revenue last year. Despite warnings and interactions, SEBI found that Jane Street continued to engage in suspiciously large trades, highlighting the importance of curbing market manipulation and maintaining fair trading practices.
Soham Parekh, an Indian software engineer, has sparked controversy and outrage in Silicon Valley by allegedly working at several startups simultaneously without disclosing it to any of them. Startup founders have come forward with their experiences of being deceived, raising questions about Parekh's motives and methods. The engineer himself has addressed the situation, admitting to working around 140 hours a week to overcome financial struggles and maintain a clear boundary between his personal and professional life.
The Builders' Association of India (BAI), representing contractors in Maharashtra, has issued a reminder legal notice to the state government for non-payment of dues totaling over Rs 90,000 crore. This is the second notice, with the first going unanswered. The government has reportedly floated new tenders for upcoming projects, while contractors are struggling with financial stress due to the delayed payments. If the government does not respond, legal action may be pursued.