Stocks to watch on April 22: HUL, HCLTech, Coal India, Paytm, Mazagaon Dock
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Time of India
24 minutes ago
- Time of India
Jane Street case: Shankar Sharma raises concerns over exchanges' oversight
Veteran investor Shankar Sharma has raised sharp questions about the role of Indian stock exchanges in the recent Jane Street controversy, suggesting that profit motives may have prevented timely action against the global trading firm. In a post on X (formerly Twitter), Sharma questioned why the exchanges did not act sooner against Jane Street, even though they are among the first to receive trading alerts. 'How come the stock exchanges never sanctioned Jane Street? They are the very first to get such alerts,' Sharma wrote. 'How can they sanction JS when it drives F&O volume massively, hence SE profits?' 'Exchanges are not meant to chase profits' Sharma, who has often criticised the structure of listed exchanges, renewed his call for a rethink of their role. According to him, exchanges function as quasi-regulators and should operate like public utilities — not profit-driven corporations. 'I have long held that exchanges should NEVER get listed. They are a regulator. Profit motive creates endless conflict of interest,' he wrote. 'SEs should be a utility, not for-profits. Simple as that. Nahi to, suffer all this hanky-panky.' Live Events Sebi vs Jane Street On Friday, the Securities and Exchange Board of India (Sebi) passed an interim order accusing Jane Street, a U.S.-based proprietary trading firm, of using high-frequency trading strategies to manipulate index levels such as the Nifty 50 and Bank Nifty. Sebi alleged that Jane Street pushed up index values in the morning by buying stocks and futures, only to reverse those trades later in the day, thereby influencing expiry-day pricing of options in its favour. The regulator said this allowed the firm to generate profits of over Rs 43,000 crore in index options, while deliberately incurring losses in the futures and equities segments. Sebi has frozen Rs 4,843 crore in what it described as 'unlawful gains' and barred Jane Street and its entities from accessing the Indian securities market until further notice. Stock exchanges under scrutin In its order, Sebi mentioned that stock exchanges had issued caution letters to Jane Street in the past. However, it remains unclear what further steps, if any, the exchanges took before Sebi stepped in with enforcement action. Sharma's remarks have drawn attention to this issue, especially since one of the two major exchanges—BSE—is a listed entity, while National Stock Exchange (NSE) remains unlisted but operates as a for-profit organisation. The matter has sparked a broader debate about the role of exchanges in maintaining market integrity, particularly when sophisticated trading strategies and high-volume players are involved.
India Today
26 minutes ago
- India Today
Chartered Accountant Foundation Exam 2025 sees 12,747 candidates qualify nationwide
ICAI CA Result 2025 has been declared for the Foundation May session. The Institute of Chartered Accountants of India (ICAI) released the results today, July 6, on its official websites -- and total of 82,662 candidates appeared for the Foundation exams, conducted at 551 centres across the country. Of these, 12,474 candidates passed, bringing the overall pass percentage to 15.09%.advertisementOf the 66,943 students who attempted Group I, 14,979 made it through -- a pass rate of 22.38%. Group II saw a slightly better outcome, with 12,204 out of 46,173 clearing the paper, pushing the pass percentage to 26.43%. However, those attempting both groups saw a tougher climb -- 5,490 out of 29,286 candidates passed, reflecting an 18.75% pass rate. In total, 14,247 candidates have now formally entered the season's top three all-India rank holders are Rajan Kabra (AIR 1), Nishitha Bothra (AIR 2), and Manav Rakesh Shah (AIR 3). GENDER-WISE PERFORMANCEAmong male candidates, 43,389 appeared and 7,056 passed, recording a pass rate of 16.26%.For female candidates, 39,273 took the exam and 5,418 cleared it, resulting in a pass percentage of 13.80%.ICAI CA RESULT 2025: EXAM DETAILSThe CA Foundation exams were conducted on May 15, 17, 19 and 21. The subjects included:Paper 1: AccountingPaper 2: Business LawsPaper 3: Quantitative Aptitude (covering Business Mathematics, Logical Reasoning, and Statistics)Paper 4: Business EconomicsTo qualify, candidates are required to secure at least 40 marks in each paper and an overall aggregate of 50%, in one sitting. Paper 3 and Paper 4 included objective-type questions with a negative marking of 0.25 for each incorrect who scored 70% or above will be marked as having passed 'with distinction.' These remarks will be printed on the result AND COPIES OF ANSWER SHEETSCandidates unsatisfied with their results can apply for verification. The verification fee is Rs 100 per paper. For those seeking certified copies of their answer sheets, applications can be submitted online through fee is Rs 500 per paper. Certified copies of Papers 1 and 2, and the OMR sheets of Papers 3 and 4, will be sent to the candidate's registered email is no provision for reappearing in the Foundation exam once a candidate has cleared ICAI will also send hard copies of mark statements by post. If not received within 4-5 weeks, candidates may write to dms_examhelpline@ CA Foundation results mark the beginning of the next phase for many aspiring chartered accountants. Further details on result-related services and procedures are available on the official ICAI websites.- Ends
Hans India
31 minutes ago
- Hans India
JC inspects construction works of TUDA Towers
Tirupati: TUDA Vice-Chairman and JC Shubham Bansal on Saturday along with engineering officials inspected the TUDA Towers which are under construction. The Tirupati Urban Development Authority (TUDA) took up the prestigious commercial cum housing project at a cost of approximately Rs 300 cr. The proposed building complex will have 230 flats including two bedrooms (42), three bedrooms (152) and four bedrooms (32). The ground and first floors meant for entirely commercial purposes will have 27 shops. The Joint Collector directed the contractor to speed up the works and officials should inspect the works on daily basis. He wanted the officials to ensure quality in construction work and also complete the works as per schedule. Secretary Dr N V Sreekanth Babu, SE Krishna Reddy, Advisor Ramakrishna Rao and EE Raveendraiah were present.
