IndiGo partners with Infiniti Software to boost group booking efficiency
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Mumbai, Domestic airlines IndiGo on Friday said it has partnered with Chennai-headquartered travel tech firm Infiniti Software Solutions to deploy the latter's advanced revenue management platform for group bookings.Built to handle high volumes while simplifying and streamlining the process, the platform improves efficiency, accelerates response time, and enhances handling of group travel requests, IndiGo said.In response to the growing demand for group travel, this cloud-native solution is now seamlessly integrated into IndiGo's operational framework, the airline said."Through this collaboration with Infiniti, and the adoption of GroupRM, we're not just streamlining our group booking processes, we're fundamentally enhancing how we interact with and serve our group customers," said Abhijit Dasgupta, Senior Vice President - Planning and Revenue Management at IndiGo.The tool offers faster response time, scalability, dynamic adaptive pricing and passenger centric insights, among others, IndiGo said."This platform empowers us to deliver faster, smarter, and more personalized booking experiences tailored to the unique and evolving needs of group travellers and is a great fit for our long-term vision for a next-gen digital ecosystem," added Dasgupta."GroupRM is engineered to elevate operational agility and passenger satisfaction -- two critical pillars in today's competitive aviation industry," said Ananth Narasimhan, CEO of Infiniti Software Solutions.With its fleet of 400-plus aircraft, the airline operates more than 2,200 daily flights, connecting over 90 domestic and 40-plus international destinations. PTI
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Time of India
28 minutes ago
- Time of India
All in a day: Buy stocks, bet against them in options market, then cash out
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Mint
39 minutes ago
- Mint
Street theatre: Sebi pins down Jane Street for manipulation
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Shares of BSE tanked 6.55% to ₹2,635.2 while Nuvama, a trading partner of Jane Street in India, dropped 11.2% to ₹7,310. Angel One, the third-largest retail broking house, plunged 5.9% to ₹2,776. Depository CDSL, a subsidiary of BSE, shed 2.3% to ₹1,762.5. Others like Motilal Oswal Financial Services and Aditya Birla Sun Life MF slipped by 1.3–1.6%. "Jane Street disputes the findings of the Sebi interim order and will further engage with the regulator. Jane Street is committed to operating in compliance with all regulations in the regions we operate around the world," the group said in a statement to Mint. The Sebi order cited what it describes as 'prima facie" evidence of two distinct but coordinated manipulation strategies: 'intraday index manipulation" (seen on 15 days) and 'extended marking the close" (seen on 3 days), particularly on index expiry days. A further instance of similar manipulation was recorded on 15 May 2025, in defiance of prior regulatory warnings. 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On 17 January 2024, Sebi found that Jane Street earned ₹734.93 crore in options, while losing ₹61.6 crore in cash and futures—what Sebi calls the 'cost of manipulation." That day, Bank Nifty opened 3.2% lower, driven by poor earnings from HDFC Bank. Between 9:15 am and 11:47 am, Jane Street purchased ₹4,370 crore worth of Bank Nifty constituent stocks and futures. This pushed the index up, misleading the market. Then, it created ₹32,114.96 crore in bearish positions by buying puts and selling calls. After 11:49 am, it reversed its morning trades, sending the index into a tailspin and locking in massive profits. Directional trades In another strategy labelled 'extended marking the close", Jane Street was found to have made aggressive directional trades in the final 30-60 minutes of trading to engineer the index closing level. This was key since settlement prices for options are derived from the day's close. 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Gupta should be remembered… small retail investors [were] to be kept out." A Sebi official said on the condition of anonymity that the interim order is not a show cause notice, and it clearly indicates that investigations into Jane Street will continue. "This interim order has only looked at the 18 major days of prima facie Bank Nifty index manipulation on expiry day… Investigations into other expiry days, other indices (including across exchanges), and other potential patterns besides the two highlighted in the order will need to continue." There should not be any major market impact from this enforcement action, the official added. "In any case, delta-based (future equivalent) limits are now in place in index options to curtail excessive risk taking without impacting regular participants." Enforcement Better enforcement of existing regulations can pave the way for optimal regulation, the official said. 'On the flip side, more regulations cannot make up for poor enforcement. We will continue to monitor Indian F&O markets." The order, authored by Sebi whole-time member Ananth Narayan G, mandated Jane Street to close all open derivative options in three months. Exchanges have been asked to supervise the group's trading, which will commence after it deposits alleged illegal gains. Market experts appear to have mixed views on the implications of the Sebi action on the US trading firm. 'You've got to hand it to Sebi for going after Jane Street. If the allegations are true, it's blatant market manipulation," said Zerodha founder Nithin Kamath on X. He added, though, that prop trading firms like Jane Street accounted for nearly 50% of options trading volumes, and if they pulled back—which seems likely—retail activity of around 35% could take a hit. 'So this could be bad news for both exchanges and brokers," Kamath said. Higher volumes? However, a UAE-based trader active in Indian markets countered this view, saying volumes could actually rise. 'The impact of the Sebi clampdown on Jane Street's manipulation will only lead to an increase in volumes," said Mayank Bansal, president at a UAE-based hedge fund. 'Many traders stayed out of the Indian markets over the past 12 months, knowing that markets were being rigged massively by Jane Street on expiry day. Now that Jane Street has been barred… the volumes… will actually increase as traders staying out will come back in again."Jane Street is largely a market maker in other markets where it operates. Here, instead of providing two-way liquidity, it was taking large directional exposure via options, and then manipulating the underlying to benefit from them. NSE's premium turnover in index options—a key metric for active trading—averaged ₹47,836 crore per day in Q1 FY26. That's down 24% year-on-year from ₹63,208 crore, but up 10% from the previous quarter. The year-on-year fall is attributed to Sebi's tighter rules introduced late last year, which increased the cost to trade and limited weekly option expiries to one per exchange. BSE holds a little over 20% share of the options market.
Time of India
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- Time of India
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