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- Mint
Jane Street Banned in India LIVE Updates: Jane Street makes over ₹36,500 cr profit — all you need to know
04 Jul 2025, 04:45 PM IST Prop trading firms like Jane Street account for nearly 50% of options trading volumes. If they pull back— which seems likely —retail activity (~35%) could take a hit too. So this could be bad news for both exchanges and brokers. The next few days will be telling. F&O volumes might reveal just how reliant we are on these prop giants. I'll share more data as and when anything interesting turns up. – Nithin Kamath, Zerodha CEO 04 Jul 2025, 04:23 PM IST 'The implications of this move are far-reaching for global funds, PMS/AIFs, and proprietary trading desks. Market participants now face an evolved compliance landscape where aggressive expiry-day positioning and trades that manipulate market prices will come under greater scrutiny. While short-term liquidity disruptions may follow, the long-term benefits will be significant. By enforcing stricter regulations, SEBI is not only ensuring cleaner price discovery but also reinforcing institutional trust in India's capital markets. For global investors, the message is clear: India is open for business, but only on the terms of fair play and sound governance. This move could ultimately make India an even more attractive destination for long-term, rule-abiding capital,' said Harshal Dasani, Business Head, INVasset. 04 Jul 2025, 03:40 PM IST The most profitable trading day for Jane Group was January 17, 2024 (with profit to the tune of ₹ 734.93 crore), SEBI said in its order. The detailed analysis of the trades on this day revealed the existence of a strategy referred to as the 'Intraday Index Manipulation' Strategy, which appears to have been similarly deployed by the JS Group on 15 out of 18 trading days covered in this order, SEBI said. A different strategy, termed the 'Extended Marking the Close' Strategy, was observed on the remaining 3 days. This latter strategy was also seen to have been used on three additional days beyond the examination period—in May 2025, specifically in NIFTY index options, the order added. 04 Jul 2025, 03:33 PM IST Jane Street operates in India through four group entities—two based domestically and two located in Hong Kong and Singapore. The firm launched its first Indian entity in December 2020, while the other two Asian units are registered as foreign investors in India, according to a Reuters report. 04 Jul 2025, 03:05 PM IST Jane Street Ban LIVE: JSI Investments Private Ltd, JSI2 Investments Private Ltd, Jane Street Singapore Pte. Ltd and Jane Street Asia Trading Ltd. are the four entities that have been barred by SEBI and formed part of Jane Street Group. Here's how much profits they raked in from their alleged manipulation. 04 Jul 2025, 02:48 PM IST The capital market stocks fell today after SEBI barred US trading firm Jane Street from the Indian stock market over alleged manipulation in derivatives trading. Angel One slumped 6%. BSE share price was down 6.4% and Central Depository Services (India) fell 3.5%. Nuvama Wealth Management, which is Jane Street's India trading partner, fell more than 9%. 04 Jul 2025, 02:40 PM IST SEBI, in its 105-page order, accused Jane Street of manipulating the Bank Nifty index—an index made up of 12 top financial stocks and popular in derivatives trading. According to SEBI, Jane Street followed two key trading strategies over more than two years that were designed to unfairly move the index. Here's how it worked: In the morning, Jane Street would buy large amounts of Bank Nifty stocks and futures to artificially push up the index. At the same time, they were placing big bets against the index using options. Later in the day, they would reverse their trades—selling what they bought earlier—to drive the index back down and profit from the drop. SEBI said this created a false sense of market activity, tricking other traders into buying or selling at misleading price levels. On days when Bank Nifty options expired, Jane Street also made large, focused trades near market close, which SEBI says was an attempt to influence the final price of the index in their favour. 04 Jul 2025, 02:21 PM IST Market regulator banned US-based trading firm Jane Street from operating in the Indian stock market, accusing it of manipulating stock indices through its trades in the derivatives segment. In what is SEBI's toughest action yet against a foreign firm, the regulator said in an order on July 3 that Jane Street and its related companies are no longer allowed to trade in India. SEBI also seized ₹ 4,843 crore from the firm, calling it illegal profits made through the alleged manipulation.
Mint
an hour ago
- Mint
SEBI bars Jane Street from securities market over ₹4,843 crore illegal gains: How the saga unfolded — A timeline
Markets regulator SEBI has barred US-based Jane Street Group from the securities markets while directing it to disgorge unlawful gains of ₹4,843 crore for allegedly manipulating stock indices through positions taken in derivatives segment. Advertisement The disgorgement amount that SEBI has listed might be the highest one it has ever directed. The Jane Street (JS) Group has come under Sebi's scrutiny for allegedly manipulating index levels in the stock market to earn illegal profits. The company did it primarily with the highly liquid Bank Nifty and Nifty index options segments. SEBI had launched an investigation into Jane Street early last year. Here is a timeline of the events. April 2024 Jane Street sues two US employees for allegedly stealing confidential prop trading strategies that were being used in India, earning the company $1 billion during the previous year. SEBI analyses based on Jane Street dispute for unauthorised use of proprietary trading strategies in Indian markets. Advertisement Also Read | SEBI bans Jane Street: List of Indian stocks that US firm targeted May 2024 The two ex-employees countersue Jane Street, claiming they led the India options trading strategy and turned the business huge in the country. US Court gives Jane Street a May deadline to list details about the trade secrets that were allegedly stolen. July 2024 US judge junks counterclaims, backs Jane Street saying that it did not file the complaint in bad faith. In India, SEBI asked NSE to examine the trading activity of Jane Street inside the country to ensure no market abuse was involved. August 2024 SEBI talks to Jane Street in late August, group submits details in writing about its options trades. October 2024 SEBI issues a circular separately to announce F&O curbs for retail traders; markets affected. November 2024 NSE submits its response to SEBI, following its conclusion of the investigation into the Jane Street Group December 2024 Jane Street settles its lawsuit in the US without disclosing the terms of the agreement. SEBI, alarmed by the abnormal volatility on weekly index options on expiry days, notices Jane Street's large risk positions in the F&O segment. It forms a team to further examine the issue. Advertisement Also Read | Sebi cracks down on Jane Street over alleged option rigging February 2025 SEBI team finds Jane Street violated Prohibition of Fraudulent and Unfair Trade Practices (PFUTP) regulations. NSE sends a cautionary letter to Jane Street on SEBI's instructions and advises it to avoid taking large cash-equivalent position as well as certain trading patterns. Jane Street replies to NSE's letter. May 2025 NSE tells Nuvama Wealth, Jane Street's India trading partner, that it had closed the investigation following the reply, as per a Bloomberg report. Jane Street continues to run very large cash-equivalent positions in index options, despite NSE's letter and its reply. July 2025 SEBI releases interim order, asks Jane Street from accessing markets over ₹ 4,843 unlawful gains Advertisement
Mint
an hour ago
- Mint
Small-cap stock under ₹50 hits 52-week high logging intraday gain of 14%. Do you own?
Small-cap stock under ₹ 50: Sindhu Trade Links share price jumped as much as 14 per cent, hitting 52-week on Friday, July 4. The small-cap stock opened at ₹ 30.22 apiece in the early morning session, as compared to previous close of ₹ 29.95. Sindhu Trade Links share price ascended over 31 per cent in past five trading sessions and over 54 per cent in a month. The small-cap stock has given significant returns of up to 65 per cent in last one year. Sindhu Trade's net sales declined to ₹ 134.22 crore in March 2025, a decrease of 7.61% compared to ₹ 145.27 crore in March 2024. The company reported a net loss of ₹ 7.31 crore in March 2025, a sharp drop of 140.51% from a profit of ₹ 18.03 crore in the same quarter last year. EBITDA fell significantly to ₹ 1.89 crore in March 2025, down 93.61% from ₹ 29.59 crore recorded in March 2024. The stock rallied amid rising market sentiments on Friday. India's benchmark indices Sensex and Nifty opened slightly higher on Friday, despite lingering uncertainty surrounding U.S. President Donald Trump's trade deal deadline scheduled for next week. The BSE Sensex rose by 53 points, or 0.06%, to reach 83,291, while the Nifty50 advanced 10 points, or 0.04%, to 25,415 in early trade. Among the Sensex constituents, Bajaj Finance, BEL, Bajaj Finserv, HUL, and HDFC Bank opened on a positive note, gaining as much as 2.2%. In contrast, Trent, Tech Mahindra, Tata Steel, and M&M registered losses. "There are no triggers to break the 25200-25800 Nifty range immediately. Even while trading within this range the market is resilient. This resilience is supported externally by the strength of the mother market US where S&P 500 and Nasdaq are at record highs and domestically by the strong and sustained flows into the market, which has made DIIs sustained buyers in the market. The cap to the upside of the range is put by the tepid earnings growth and expectations of modest earnings growth in FY26. Investors should watch for possible changes in the earnings growth trajectory, the indications of which will be available in the Q1 results, which will start coming soon. Outperformances in results are likely to be company-specific rather than sector-specific. For instance autos are likely to report modest numbers, but TVS, Eicher and M&M can deliver better than industry numbers. Similarly in financials Bajaj Finance and Sriram Finance may outperform. Therefore, market action is likely to be stock-specific," said VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.
