Latest news with #AnanthNarayanG
Mint
3 days ago
- Business
- Mint
Jane Street banned in India! How US trading entity allegedly manipulated index to make ₹36,500 crore
The Securities and Exchange Board of India (SEBI) has barred US-based trading firm Jane Street and three of its affiliated entities from accessing Indian securities markets, citing allegations of large-scale manipulation in the derivatives trading. The entities named in SEBI's interim order include JSI2 Investments Private Ltd, Jane Street Singapore Pte. Ltd, and Jane Street Asia Trading Ltd. SEBI has also directed the entities to deposit ₹ 4,843.5 crore — alleged to be illegal gains — into an escrow account maintained by the regulator. Additionally, a debit freeze has been imposed on their bank accounts. According to SEBI's Whole Time Member Ananth Narayan G, the Jane Street Group is alleged to have engaged in manipulative trades on at least 21 occasions involving securities forming part of the Nifty and Bank Nifty indices. 'Such actions have compromised market fairness and integrity, allowing the group to unlawfully profit from their trading activities and positions in the index options market,' the Sebi order dated 3 July 2025 said. SEBI's order outlines a recurring trading pattern allegedly used by the Jane Street entities, particularly on index expiry days. The strategy involved large-scale purchases of Bank Nifty futures and equities in the morning, paired with aggressive selling of Bank Nifty options. This would be followed by significant selling in the futures market post-noon, thereby impacting the closing level of the index. For instance, on January 17, 2024, Jane Street reportedly bought Bank Nifty futures worth ₹ 4,370 crore and sold Bank Nifty options worth ₹ 32,115 crore in the morning session. Later in the day, it sold Bank Nifty futures worth ₹ 5,372 crore. These trades resulted in a peak short position of ₹ 46,620 crore in the options segment. Jane Street allegedly booked a profit of ₹ 735 crore in options while incurring a loss of ₹ 61.6 crore in futures and cash segments, leading to a net gain of ₹ 673.4 crore on that day. SEBI also highlighted another strategy wherein Jane Street allegedly created large short positions in Bank Nifty futures and constituent stocks during the final hours of trading on expiry days to influence index closing. On July 10, 2024, the firm reportedly sold Bank Nifty futures worth ₹ 2,800 crore and created short positions in Bank Nifty options worth ₹ 44,154 crore, leading to a softer index close and a profit of ₹ 225 crore. Jane Street group's total profit from January 2023 to March 2025 was ₹ 36,502 crore, and ₹ 43,289 crore came from index options. Sebi noted that the group had cumulative losses in stock futures, index futures, and the cash segment amounting to ₹ 7,687 crore. The regulator observed a consistent pattern across multiple trading sessions, concluding that these were not routine transactions but instances of manipulation in violation of SEBI's Prohibition of Fraudulent and Unfair Trade Practices (PFUTP) regulations. Despite being aware of SEBI's ongoing investigation, Jane Street allegedly continued to deploy similar strategies. On May 15, 2025, and on two other occasions in the same month, the firm reportedly purchased Nifty futures and underlying stocks worth ₹ 4,911 crore in the final hours of trade to influence expiry-day closing levels.
Mint
3 days ago
- Business
- Mint
Jane Street banned in India! How US trading entity allegedly manipulated index closing on expiry days
The Securities and Exchange Board of India (SEBI) has barred US-based trading firm Jane Street and three of its affiliated entities from accessing Indian securities markets, citing allegations of large-scale manipulation in the derivatives trading. The entities named in SEBI's interim order include JSI2 Investments Private Ltd, Jane Street Singapore Pte. Ltd, and Jane Street Asia Trading Ltd. SEBI has also directed the entities to deposit ₹ 4,843.5 crore — alleged to be illegal gains — into an escrow account maintained by the regulator. Additionally, a debit freeze has been imposed on their bank accounts. According to SEBI's Whole Time Member Ananth Narayan G, the Jane Street Group is alleged to have engaged in manipulative trades on at least 21 occasions involving securities forming part of the Nifty and Bank Nifty indices. 'Such actions have compromised market fairness and integrity, allowing the group to unlawfully profit from their trading activities and positions in the index options market,' the Sebi order dated 3 July 2025 said. SEBI's order outlines a recurring trading pattern allegedly used by the Jane Street entities, particularly on index expiry days. The strategy involved large-scale purchases of Bank Nifty futures and equities in the morning, paired with aggressive selling of Bank Nifty options. This would be followed by significant selling in the futures market post-noon, thereby impacting the closing level of the index. For instance, on January 17, 2024, Jane Street reportedly bought Bank Nifty futures worth ₹ 4,370 crore and sold Bank Nifty options worth ₹ 32,115 crore in the morning session. Later in the day, it sold Bank Nifty futures worth ₹ 5,372 crore. These trades resulted in a peak short position of ₹ 46,620 crore in the options segment. Jane Street allegedly booked a profit of ₹ 735 crore in options while incurring a loss of ₹ 61.6 crore in futures and cash segments, leading to a net gain of ₹ 673.4 crore on that day. SEBI also highlighted another strategy wherein Jane Street allegedly created large short positions in Bank Nifty futures and constituent stocks during the final hours of trading on expiry days to influence index closing. On July 10, 2024, the firm reportedly sold Bank Nifty futures worth ₹ 2,800 crore and created short positions in Bank Nifty options worth ₹ 44,154 crore, leading to a softer index close and a profit of ₹ 225 crore. The regulator observed a consistent pattern across multiple trading sessions, concluding that these were not routine transactions but instances of manipulation in violation of SEBI's Prohibition of Fraudulent and Unfair Trade Practices (PFUTP) regulations. Despite being aware of SEBI's ongoing investigation, Jane Street allegedly continued to deploy similar strategies. On May 15, 2025, and on two other occasions in the same month, the firm reportedly purchased Nifty futures and underlying stocks worth ₹ 4,911 crore in the final hours of trade to influence expiry-day closing levels. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
The Hindu
3 days ago
- Business
- The Hindu
Sebi bans Jane Street entities for alleged expiry-day index manipulation
Markets regulator Sebi has barred US-based trading firm Jane Street from the securities markets and directed the company to disgorge unlawful gains of ₹4,843.57 crore for allegedly manipulating index levels on expiry days to gain massive profits in index options. JSI Investments, JSI2 Investments Pvt Ltd, Jane Street Singapore Pte Ltd, and Jane Street Asia Trading of Jane Street Group (JS Group) have been prohibited from the markets. According to an interim order passed by Sebi on Thursday, (July 3, 2025) JS Group entities made over ₹43,289 crore in profits from index options on NSE from January 1, 2023 to March 31, 2025 across all product categories and segments of NSE. Also, the entities were directed to cease and desist from directly or indirectly engaging in any fraudulent, manipulative or unfair trade practice or undertaking any activity, either directly or indirectly, that may be in breach of norms. Sebi found the manipulative trading patterns of JS Group early this year. NSE as a first line regulator clearly and explicitly cautioned the JS Group to desist from taking on large risks in the index options markets, and to desist from undertaking trading patterns that raised concerns of manipulative behaviour. In turn, JS Group themselves represented in February 2025 to NSE of their commitment to adhere to all regulations, the regulator said. Sebi also noted that JS Group again resorted to undertaking prima facie manipulative 'extended marking the close' trading patterns of large and aggressive intervention in index and constituent markets towards the expiry day closing, so as to influence and manipulate the index to their illegal advantage in May 2025, despite a caution letter in February and its own declarations to the NSE. "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's whole time member Ananth Narayan G said in the order. Accordingly, Sebi directed the JS Group to disgorge unlawful gains worth ₹4,843.57 crore.
India Today
25-06-2025
- Business
- India Today
Nearly half of IIM Lucknow's 2025 batch comes from non-engineering backgrounds
The IIM Lucknow has officially begun its new academic session for 2025, welcoming 643 students across its prestigious postgraduate and doctoral programmes. The new batch brings in a rich mix of academic backgrounds, with a nearly equal split between engineering and non-engineering students. This is a departure from the usual trend of a majority of management students coming from engineering to research by QS-IGAUGE, a large share of management (MBA/PGDM) students in India have an engineering background. At top institutions like the IIMs, around 75% to 80% of the student intake consists of engineering graduates. Of these, nearly 30% to 35% are alumni of premier engineering institutes like the IITs and reflects a long-standing trend in Indian education, where engineering is commonly viewed as a stepping stone to a management career offering wider professional opportunities. But this year, IIM Lucknow has recorded a reversal of the trend. In the new academic year, 50.70% of students are from engineering backgrounds and 49.30% from non-engineering disciplines, highlighting a strong emphasis on academic diversity. In terms of gender representation, 30% of the incoming cohort are PGP and PGP-ABM courses also showcase varied experience levels, while 32% of students in the PGP programme are freshers, the PGP-ABM programme sees a majority of 68% freshers, indicating interest from early-career aspirants in both general and niche management new academic year was formally inaugurated in a ceremony attended by Ananth Narayan G, Whole-Time Member of the Securities and Exchange Board of India (SEBI) and an alumnus of IIM Lucknow's Class of event also saw participation from senior faculty members including Prof Sanjeet Singh (Dean, Faculty), Prof Sanjay K. Singh (Dean, Programmes), Prof Pushpendra Priyadarshi (Chairperson, Doctoral Programme), Prof Dipti Gupta (Chairperson, PGPSM), and Prof Alok Dixit (Chairperson, PGP).INDUSTRY EXPOSURE AND INDUCTIONAs part of their induction programme, students will participate in interactive sessions with industry experts and academicians. These sessions are designed to familiarise them with opportunities for professional development and personal growth, reinforcing IIM Lucknow's commitment to producing well-rounded the incoming cohort, Prof Sanjeet Singh, Dean of Faculty, encouraged students to embrace intellectual curiosity and emotional intelligence.'At IIM Lucknow, what will set you apart is your ability to think critically, challenge assumptions, and approach problems with both emotional intelligence and clarity of mind,' he also praised the diversity of the new batch, stating that students hail from backgrounds such as engineering, arts, commerce, and more. He added, 'Over the next two years, IIM Lucknow will offer you the opportunity to grow, collaborate, and discover your unique perspective.'advertisementIIM Lucknow aims to nurture the new batch with academic excellence, interdisciplinary learning, and leadership nearly half of the batch coming from non-engineering streams and 30% being women, the 2025 cohort represents IIM Lucknow's growing focus on inclusivity and holistic talent development.- Ends
Indian Express
24-06-2025
- Business
- Indian Express
IIM Lucknow begins new academic year with over 600 students & 30% female enrollment
The Indian Institute of Management, Lucknow, has started its new academic session with 643 students. These students are enrolled in various programmes like Post Graduate Program in Management (PGP), Post Graduate Programme in Agribusiness Management (PGP-ABM), Post Graduate Programme in Sustainable Management (PGP-SM), and Doctor of Philosophy (PhD) programmes. The inaugural event was attended by Ananth Narayan G, Whole Time Member, Securities and Exchange Board of India, and an IIM Lucknow alumnus, Class of 1993. Along with Narayan, other guests included were the leadership team of IIM Lucknow, including Prof Sanjeet Singh, Dean Faculty; Prof Sanjay K. Singh, Dean Programmes; Prof Pushpendra Priyadarshi, Chairperson, Doctoral Program; Prof Dipti Gupta, Chairperson, PGPSM, and Prof Alok Dixit, Chairperson, PGP, among others, as mentioned in the press release. Overall, the new batch consists of – –30 per cent female students –50.70 per cent of students with an engineering background and 49.30 per cent with a non-engineering background –32 per cent freshers in PGP and 68 per cent in PGP-ABM programmes The new batch will also participate in interactive discussions with multiple stakeholders from academia and industry, as a part of the induction programme, to provide an overview of opportunities for personal and professional growth. Welcoming the new batch, Prof. Sanjeet Singh, Dean, Faculty, IIM Lucknow, said, 'At IIM Lucknow, what will set you apart is your ability to think critically, challenge assumptions, and approach problems with both emotional intelligence and clarity of mind. You come from diverse backgrounds, engineering, arts, commerce, and more, and that diversity is your strength. Over the next two years, IIM Lucknow will offer you the opportunity to grow, collaborate, and discover your unique perspective. Welcome to a journey that will transform not only your career, but your way of thinking as well.'
