Latest news with #358
Hans India
05-07-2025
- Business
- Hans India
Sebi bans US-based Jane Street from securities market
Markets regulator Sebi has barred US-based Jane Street Group (JS Group) from the securities markets and directed the group to disgorge unlawful gains of Rs4,843 crore for allegedly manipulating stock indices through positions taken in derivatives segment. This could be the highest disgorgement amount ever directed by the Securities and Exchange Board of India (Sebi). In its interim order, the regulator has debarred JSI Investments, JSI2 Investments Pvt Ltd, Jane Street Singapore Pte Ltd, and Jane Street Asia Trading -- entities collectively referred to as the Jane Street Group -- from trading until further notice, while continuing its investigation. Established in 2000, Jane Street Group LLC is a global proprietary trading firm in the financial services industry. It employs more than 2,600 people across five offices in the US, Europe, and Asia, and conducts trading operations in 45 countries. The Jane Street (JS) Group has come under Sebi's scrutiny for allegedly manipulating index levels in the stock market to earn illegal profits, primarily through the highly liquid Bank Nifty and Nifty index options segments. Meanwhile, shares of Nuvama Wealth Management, which is the trading partner of JS Group for Indian stock market, fell over 10 per cent to Rs7,280.50 on NSE. An investigation by Sebi revealed that over 21 expiry days between January 2023 and May 2025, the group executed large trades in the underlying cash and futures markets to influence index movements and profit from massive positions in the options market. Two key strategies were identified-- one involved buying heavily in Bank Nifty stocks and futures in the morning and selling them aggressively in the afternoon to create a softer close, while the other involved concentrated selling or buying in the last two hours of the expiry day to sway index levels. These actions helped the group earn illegal profits of about Rs4,843 crore, even as they incurred smaller losses in cash and futures trades, the regulator said. Sebi also noted that between January 2023 and March 2025, the JS Group recorded substantial trading activity across various segments of the market. The group made gains of Rs44,358 crore from index options trading, which formed the bulk of their profits. However, these were partially offset by losses of Rs7,208 crore in stock futures, Rs191 crore in index futures, and Rs288 crore in the cash market. After accounting for all gains and losses, the JS Group reported a net total profit of Rs36,671 crore during this period, Sebi noted. The case stems from media reports in April 2024, which suggested that Jane Street and its related entities may have used unauthorised proprietary trading strategies in the Indian options market. Sebi noted that the JS Group continued to carry out suspicious trading activities, mainly near market closing on expiry day, by making large and aggressive trades to unfairly influence the index, even after receiving a warning in February and making promises to the NSE to stop such practices. 'Such egregious behaviour, in clear disregard/ defiance of the explicit advisory issued to them by NSE in February 2025, amply demonstrates that unlike the vast majority of Foreign Portfolio Investors and other market participants, JS Group is not a good faith actor that can be, or deserves to be, trusted. In the face of such a strong prima facie case that allowing the JS Group to continue as before may severely compromise investor protection on an extraordinary scale, Sebi has a duty to directly intervene,' Sebi added. Accordingly, Sebi said, 'the total amount of unlawful gains earned by the JS Group from the alleged violations, Rs4,843.57 crore, shall be impounded jointly and severally.' The entities have been restrained from accessing the securities market and are further prohibited from buying, selling or otherwise dealing in securities, directly or indirectly. Additionally, banks where the entities are holding accounts have been directed to ensure that no debits are made, without Sebi's permission, except for the purpose of complying with this order.
Yahoo
20-05-2025
- Business
- Yahoo
Shock as Baby Boomers candidly reveal their savings balances: ‘Millionaires everywhere'
Baby Boomers have candidly revealed how much money they have in the bank and it's come as a rude awakening to some Aussies. Property app Coposit has gone viral for its social media series where it asks Aussies to share how much they have in savings. The Sydney-based platform recently shared a compilation showing what Aussies in older generations have in savings, revealing a big variety of answers. One 68-year-old man, for instance, shared he had a whopping $4 million in savings. The man shared that he was now retired but had previously worked as an accountant and had built his wealth through building speculating, which is the process of building or renovating a property without a pre-committed buyer. RELATED Baby Boomers resist downsizing pressure as pensions put at risk: 'Something isn't right' Common $358 a day expense the ATO lets you claim on tax without receipts Money crisis sparks capital city exodus as Australians embrace 'new frontier' He shared he had his savings kept in his super fund, along with outside of super, and thought other people his age would have similar amounts as him. 'I think people around my [age] like Baby Boomers, later Baby Boomers, are reasonably comfortable and I think a lot of people would be similar to me, some more, some less, but around about the same,' he said. Another 73-year-old man shared he had over $5 million in savings after running his own water treatment business, while a 66-year-old American electrical engineering professor shared he had 'a couple of million'. But these amounts are not typical of all Baby Boomers. The app also heard from a 72-year-old who shared he had $1,200 in savings, which viewers found more relatable, and was saving up for a five-week trip to Vietnam. He shared that he previously did security work, which 'paid the bills'. He said he was no longer in the property market. 'When I bought my first house, I paid $9,000 deposit on a $39,000 house. You can't do that these days,' he said. Another 64-year-old shared she had $40,000 in savings, which is closer to the average amount for her age group. She shared that she had previously worked for the Gold Coast hospital doing admin and rostering. She said buying property at the right time had helped her grow her wealth and she had now paid off the mortgage on a subsequent house. 'We did have a unit that we managed to buy earlier on in the piece, you wouldn't be able to get them now. But it was at a cheap price and we sold it at a high price because we watched the market," she said. 'We paid the rest of the house off with that and had enough money to put into my super. You play the market and you play the money game." Another 74-year-old woman shared she had more than $100,000 in savings. She said she had run a couple of businesses, including one that painted businesses, and had 'worked very hard' to accumulate her wealth. She admitted it was easier to get into the property market when she was younger and shared she bought her first property when she was in her late 20s. She said she wouldn't like to be doing it today and called the cost of living an 'absolute nightmare'. 'Realistically, it's a hard road. It's not easy these days,' she said. Coposit's video has racked up nearly a quarter of a million views, with many sharing their surprise at how much money many of the Boomers interviewed had. 'Millionaires everywhere,' one person wrote. 'How do they all have so much money?' another said. Others shared how much savings they had themselves and how different it was from those interviewed. "Is this a joke?? Ummm 42 and $7.49," one said. "I'm 41 and have $86.75," another said. "44 and in debt. Nothing," another added. Others joked that the Baby Boomers interviewed could have amassed their wealth by 'not buying coffee' or 'not buying avocado on toast'. Finder's Consumer Sentiment Tracker found that the average Baby Boomer does not have millions of dollars in savings. It found Baby Boomers had $48,374 in cash savings to their name. This is higher than Gen X with $39,065, Gen Y at $26,008 and Gen Z at $13,218. Separate Westpac data found customers aged 65 to 74 had $101,004 in their savings account on average, and a median of $15,829. Here's how much the average Australian has in savings by age, with both the mean and median amounts listed, according to Westpac: 17 and under: $4,769 and $1,135 18 to 24: $13,069 and $2,410 25 to 29: $19,165 and $2,200 30 to 34: $21,394 and $1,104 35 to 44: $29,769 and $811 45 to 54: $52,836 and $1,429 55 to 64: $87,891 and $5,316 65 to 74: $101,004 and $15,829 75 and over: $130,597 and $31,424Error while retrieving data Sign in to access your portfolio Error while retrieving data
News18
05-05-2025
- Business
- News18
DMart Share Price Fall 3% Post Q4 Earnings; Should You Buy, Sell, Or Hold?
Last Updated: Dmart Share Price: Avenue Supermarts Ltd's shares fell nearly 3 percent after weak Q4 FY25 earnings. Net profit declined 2 percent YoY to Rs 551 crore. DMart shares fall 2% post q4 earnings; should you buy, sell, or hold? DMart Share Price Today: Radhakishan Damani-led Avenue Supermarts Ltd's shares, the owner of DMart retail chains, fell almost 3 per cent in the morning session on Monday, May 05, following a weak quarter earnings in Q4 FY25. The company reported a consolidated net profit of Rs 551 crore for the quarter ended March 31, 2025, marking a 2 per cent decline Year-on-Year from Rs 563 crore in the corresponding quarter of the previous financial year 2023-24. The scrip was trading at Rs 3,957 per share with a loss of 2.55 per cent, against the previous day close at Rs 4,060 apiece. DMart Q4 FY25 Results DMart's total revenue stood at Rs 14,462 crore, YoY growth of 16.7 per cent. EBITDA was Rs 981 crore, YOY growth of 4.4 per cent. Basic EPS for Q4FY25 stood at Rs 9.52, as compared to Rs 9.28 for Q4FY24. 28 stores were added in Q4FY25. DMart Q4 FY25 Financials Total Revenue for FY25 stood at Rs.59,358 crore, as compared to Rs.50,789 crore in the same period last year. Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in FY25 stood at Rs.4,487 crore, as compared to Rs.4,104 crore during FY24. EBITDA margin stood at 7.6% in FY25 as compared to 8.1% in FY24. Net Profit stood at Rs.2,707 crore for FY25, as compared to Rs.2,536 crore in FY24. PAT margin stood at 4.6% in FY25 as compared to 5.0% in FY24. Basic Earnings per share (EPS) for FY25 stood at Rs. 41.61 as compared to Rs. 38.99 for FY24. D-Mart follows Everyday low cost – Everyday low price (EDLC-EDLP) strategy which aims at procuring goods at competitive prices, using operational and distribution efficiency and thereby delivering value for money to customers by selling at competitive prices. Dmart Share Price Target International brokerage Jefferies has maintained its 'hold' rating on DMart but trimmed its target price to Rs 4,100 from Rs 4,225, citing disappointment over the company's lacklustre margin performance in the recent quarter. Motilal Oswal, meanwhile, acknowledged the intensifying pricing competition in the Quick-Commerce (QC) space due to the entry of large offline and online players. The firm noted that this could weigh on DMart's growth and margins in the near term. However, it expressed confidence in the company's long-term prospects, stating, 'DMart's superior store economics would ensure its competitiveness and relevance to customers over the longer term." It reiterated its 'buy' recommendation, but revised its target price downward to Rs 4,350 from Rs 4,650. HDFC Securities also lowered its target price on Avenue Supermarts to Rs 3,850 from Rs 3,950, emphasizing the importance of maintaining a strong value proposition, enhancing product assortment, and sustaining operational efficiency to support future performance. First Published: May 05, 2025, 10:16 IST
Yahoo
04-03-2025
- Business
- Yahoo
Angkor Resources EnerCam Exploration Canada Signs Joint Strategic Alliance Agreement On Oil & Gas Block Viii Onshore, Cambodia
GRANDE PRAIRIE, ALBERTA - March 4, 2025 (NEWMEDIAWIRE) - ANGKOR RESOURCES CORP. (TSXV: ANK) ("ANGKOR") announces its Canadian energy subsidiary, EnerCam Exploration Ltd.("EnerCam Canada"), has signed a Joint Strategic Alliance Agreement (the "Agreement") on February 28, 2025 with 358140 Alberta Ltd. ("358") and with EnerCam Resources Co. Ltd. Cambodia ("EnerCam Cambodia") to finance and develop oil and gas production for the Cambodian Block VIII onshore project. (the "Project"). President of EnerCam, Mike Weeks, comments on the transaction: "We are so pleased to be in a Strategic Alliance with 358, a Canadian company that is well versed in the oil & gas industry. Their funding will allow us to advance the Project to complete magnetics, seismic, and other activities we anticipate will lead to Cambodia's first onshore wells being drilled. Their added expertise of using advanced drilling and recovery methods in Canada make way for Cambodia to not only move to producing its own energy from hydrocarbons, but to do so in using some of the latest, greenest technologies." Weeks adds, "As well, 358 brings business acumen for adding additional investors at a strategic time to grow the project and the industry. Any additional funding and investment into the Project are governed by mutual agreement and comes out of 358's interest." Highlights of the agreement include: - 358 shall be responsible to fund 100% of the Project under the Agreement terms. - EnerCam will be the Operator of the Project from exploration through to production. - EnerCam will maintain a 20% carried interest in the Project and 358 will hold an 80% interest in the Project. EnerCam has the option of converting to a 3% GORR (gross overriding royalty) at the production stage. - Phase One will cover licensing commitments, seismic and analysis, and drill targets developed at an estimated cost of $4.5 million USD. Phase Two will cover additional 3-D seismic if necessary and a series of exploratory wells for an estimated cost of $5.5 million USD. Phase three will cover drilling several developmental wells at an estimated cost of $20-$30 million USD. - 358 has the option to add 358 associates or personnel to the Operator's team to add capacity to human resources. - 358 shall pay an amount of $125,000 USD to EnerCam Canada as a participation fee. A member of Angkor's management holds a non-controlling interest in 358. EnerCam's technical management team will include veterans from across the globe who have decades of experience in the oil and gas industry. First steps of the Project will be final government approval to proceed with a voluntary reduction of land from EnerCam Cambodia to remove parks, protected areas, and wildlife sanctuaries from the areas of exploration and potential production. EnerCam Cambodia negotiated and finalized a 30-year Production Sharing Contract with the Royal Government of Cambodia regarding oil and gas exploration and production in Block VIII in late 2022. The reduction of the size of the license from 7300 square kilometres to 3729 square kilometres to remove parkland requires written approval from government authorities for Block VIII to proceed. To date, Cambodia has no onshore oil and gas wells drilled in the country, although it is surrounded by production in Vietnam, and Thailand. Currently, Cambodia spends over *$2 billion USD annually importing its hydrocarbon-based energy products such as LNG, LPG, gasoline, diesel, etc. *(Reference: Angkor Times, Dec. 22 2024) All licenses issued by the government of Cambodia for natural resources such as mining or oil and gas must be held by a Cambodian-incorporated company. EnerCam Cambodia was incorporated in the Kingdom of Cambodia on January 16, 2020 under certificate registration number 00050674 for the purpose of oil and gas exploration, development, and production. ABOUT 358140 Alberta Ltd. 358 has been involved in oil and gas, agriculture, and real estate ventures in Canada for over three decades and has expanded into oil drilling and production plays across Alberta and Saskatchewan in the past five years. Currently, the company has a participating interest in four different oil and gas production projects, three in Alberta and the fourth in Saskatchewan. ABOUT ENERCAM EXPLORATION LTD. EnerCam Exploration Ltd. is a Canadian corporation owned 100% by its parent, Angkor Resources Corp. The company is focussed on oil and gas production and gas conservation/carbon capture and has a 40% interest in an oil and gas production project in Evesham Saskatchewan, Canada. ABOUT ANGKOR RESOURCES CORPORATION: ANGKOR Resources Corp. is a public company, listed on the TSX-Venture Exchange, and is a leading resource optimizer in Cambodia working towards mineral and energy solutions across Canada and Cambodia. ANGKOR's carbon capture and gas conservation project in Saskatchewan, Canada is part of its long-term commitment to Environmental and Social projects and cleaner energy solutions across expanding jurisdictions. The company's mineral subsidiary, Angkor Gold Corp. in Cambodia holds three mineral exploration licenses in Cambodia and its Cambodian energy subsidiary, EnerCam Resources, was granted an onshore oil and gas license of 7300 square kilometers in the southwest quadrant of Cambodia called Block VIII. Since 2022, Angkor's Canadian subsidiary, EnerCam Exploration Ltd., has been involved in gas/carbon capture and oil and gas production in Evesham, Saskatchewan. CONTACT: Delayne Weeks - CEOEmail: info@ Website: Telephone: +1 (780) 831-8722 Please follow @AngkorResources on LinkedIn, Facebook, X, Instagram and YouTube. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to the potential for gold and/or other minerals at any of the Company's properties, the prospective nature of any claims comprising the Company's property interests, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, uncertainty of sample results, timing and results of future exploration, and the availability of financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Sign in to access your portfolio
