Latest news with #IIFL
India Today
a day ago
- India Today
Banker dies by suicide over online scam, leaves 'hug me once' note to parents
A 25-year-old woman working at a private bank in Gujarat's Amreli district died by suicide after falling prey to an online task scam. The victim, Bhumika Sorathia, an employee of IIFL Bank, consumed pesticide inside the bank premises. She was rushed to a nearby hospital but succumbed during recovered a suicide note from the scene in which Bhumika detailed the financial distress she faced due to a debt of Rs 28 directly mentioned the name of a company, saying, 'I am committing suicide. I have no complaints with you. I have a debt of Rs 28 lakhs which I cannot repay, so I am taking this step. I was just planning a good life for both of you, but everything turned upside down. This entire debt belongs to company. If possible, try to get the money back after my death.' She further asked her parents to get 5 lakh rupees from the IIFL bank and get it processed. "My PF must have been deposited too, withdraw that too," she further requested her parents to fulfil her last wish. When my body comes home, hug me once. Please fulfil this last wish of mine," seh the discovery of the note, Khambha Police registered a case of accidental death and launched a formal investigation. Preliminary findings revealed that Bhumika had become entangled in a Telegram-based online task had joined a group that promised returns of Rs 700 for completing tasks worth Rs 500. After initially receiving small rewards, she was lured into investing larger sums, eventually accumulating a debt of Rs 28 say she was repeatedly pressured to invest more money under the promise of higher returns. The scam operators also issued fake receipts showing winning amounts to gain her trust. According to Dhari ASP Jaiveer Gadhvi, the investigation led to the identification of a Telegram family filed a formal complaint alleging that she faced constant mental harassment from the fraudsters, which pushed her to take the extreme step. Based on their complaint and the suicide note, police have initiated legal proceedings against the accused Telegram account holder. - EndsMust Watch
Economic Times
10-07-2025
- Business
- Economic Times
Sanjiv Bhasin challenges Sebi ban, appeals to SAT in front-running probe
Sanjiv Bhasin, former director of IIFL Securities and a once-familiar face on Indian business television, has filed an appeal with the Securities Appellate Tribunal (SAT) challenging a Securities and Exchange Board of India (Sebi) order that accuses him of front-running and stock price manipulation. ADVERTISEMENT In a strongly worded interim order dated June 17, Sebi barred Bhasin and 11 others from trading in the securities market. The regulator alleged that Bhasin engaged in 'fraudulent and manipulative' practices by taking stock positions ahead of publicly recommending them on television and social media, thereby earning unlawful profits. The order also directed the impounding of Rs 11.37 crore in alleged ill-gotten gains. Bhasin, who served as director of IIFL from April 2017 to November 2022 and continued as a consultant until June 2024, was widely known for his stock recommendations broadcast on national news channels and IIFL's Telegram channel. Sebi's investigation, covering the period from January 1, 2020, to June 12, 2024, found that Bhasin would first buy the securities himself and later recommend them to the public via TV appearances and Telegram posts. According to the order, Bhasin executed trades using accounts linked to Venus Portfolios Private Ltd, Gemini Portfolios Private Ltd, and HB Stockholdings—entities Sebi identified as profit-makers in the alleged scheme. These trades were routed through the broker RRB Master Securities Delhi, with Jagat Singh and Rajiv Kapoor acting as dealers, the order noted. 'These trades prima facie show that Sanjiv Bhasin was not genuine about his recommendations,' Sebi stated. 'Investors would have invested their hard-earned money believing the advice to be research-backed, only to be deceived.'The regulator's findings were based on evidence, including WhatsApp chats and audio files, which allegedly revealed that Bhasin timed his trades to precede or coincide with his media appearances, often exiting after a retail-driven price surge. In a curious twist, Bhasin had begun pivoting to astrology-based content on social media in the months leading up to Sebi's crackdown. Following search and seizure operations at his premises in the National Capital Region in June 2024, he quietly exited IIFL. He later reappeared online as a self-described astrologer, offering guidance on 'relationships, careers, and investments' based on planetary alignments. ADVERTISEMENT 'Mars to enter Leo tomorrow after almost 9 months—could be the big change you were looking forward to,' read one of his posts on X, where he now has over 323,000 followers and lists his credentials as 'Market Guru, Mundane Astrology, Fate & Freewill, Sense & Sensibility.'Bhasin even ventured into geopolitical predictions, claiming 'civil unrest and splits in Pakistan by end-May' based on its national horoscope—a forecast that did not materialise. ADVERTISEMENT In its June order, Sebi observed that 'Sanjiv Bhasin manipulated the price of securities and made ill-gotten gains.' It added, 'Sebi cannot remain a mute spectator when fraudulent and manipulative activities take place in the securities market by personalities who are actually revered… and have a huge following on social media platforms.'The regulator had earlier received three complaints between September and October 2023, which ultimately led to the investigation. The order was issued by Kamlesh C. Varshney, Sebi's Whole-Time Member. ADVERTISEMENT The SAT will now hear Bhasin's appeal as he seeks to overturn the trading ban and the regulator's findings. Until then, the once-celebrated market commentator remains off the trading floor. Also read | From stock tips to astro tips! Sanjiv Bhasin turned astrologer before Sebi ban (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
10-07-2025
- Business
- Time of India
Sanjiv Bhasin challenges Sebi ban, appeals to SAT in front-running probe
Sanjiv Bhasin , former director of IIFL Securities and a once-familiar face on Indian business television, has filed an appeal with the Securities Appellate Tribunal (SAT) challenging a Securities and Exchange Board of India (Sebi) order that accuses him of front-running and stock price manipulation. In a strongly worded interim order dated June 17, Sebi barred Bhasin and 11 others from trading in the securities market. The regulator alleged that Bhasin engaged in 'fraudulent and manipulative' practices by taking stock positions ahead of publicly recommending them on television and social media, thereby earning unlawful profits. The order also directed the impounding of Rs 11.37 crore in alleged ill-gotten gains. Stock tips, profits, and a social media reinvention Bhasin, who served as director of IIFL from April 2017 to November 2022 and continued as a consultant until June 2024, was widely known for his stock recommendations broadcast on national news channels and IIFL's Telegram channel. Sebi's investigation, covering the period from January 1, 2020, to June 12, 2024, found that Bhasin would first buy the securities himself and later recommend them to the public via TV appearances and Telegram posts. According to the order, Bhasin executed trades using accounts linked to Venus Portfolios Private Ltd, Gemini Portfolios Private Ltd, and HB Stockholdings—entities Sebi identified as profit-makers in the alleged scheme. These trades were routed through the broker RRB Master Securities Delhi, with Jagat Singh and Rajiv Kapoor acting as dealers, the order noted. 'These trades prima facie show that Sanjiv Bhasin was not genuine about his recommendations,' Sebi stated. 'Investors would have invested their hard-earned money believing the advice to be research-backed, only to be deceived.' Live Events The regulator's findings were based on evidence, including WhatsApp chats and audio files, which allegedly revealed that Bhasin timed his trades to precede or coincide with his media appearances, often exiting after a retail-driven price surge. From markets to Mars In a curious twist, Bhasin had begun pivoting to astrology-based content on social media in the months leading up to Sebi's crackdown. Following search and seizure operations at his premises in the National Capital Region in June 2024, he quietly exited IIFL. He later reappeared online as a self-described astrologer, offering guidance on 'relationships, careers, and investments' based on planetary alignments. 'Mars to enter Leo tomorrow after almost 9 months—could be the big change you were looking forward to,' read one of his posts on X, where he now has over 323,000 followers and lists his credentials as 'Market Guru, Mundane Astrology, Fate & Freewill, Sense & Sensibility.' Bhasin even ventured into geopolitical predictions, claiming 'civil unrest and splits in Pakistan by end-May' based on its national horoscope—a forecast that did not materialise. A regulator's warning In its June order, Sebi observed that 'Sanjiv Bhasin manipulated the price of securities and made ill-gotten gains.' It added, 'Sebi cannot remain a mute spectator when fraudulent and manipulative activities take place in the securities market by personalities who are actually revered… and have a huge following on social media platforms.' The regulator had earlier received three complaints between September and October 2023, which ultimately led to the investigation. The order was issued by Kamlesh C. Varshney, Sebi's Whole-Time Member. The SAT will now hear Bhasin's appeal as he seeks to overturn the trading ban and the regulator's findings. Until then, the once-celebrated market commentator remains off the trading floor. Also read | From stock tips to astro tips! Sanjiv Bhasin turned astrologer before Sebi ban
Economic Times
10-07-2025
- Business
- Economic Times
Stocks to buy today: Data Pattern, Cummins India among 6 trading ideas for 10 July 2025
Live Events We have collated stocks from various experts for traders who have a short-term trading horizon: Expert: Jaynit Vora, CMT - Research Analyst, IIFL told ETBureau Expert: Kunal Bothra, Market Expert told ETNow (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The Indian market is likely to consolidate on Thursday, tracking mixed global Nifty future closed negatively with losses of 0.24% at 25,550 levels on Wednesday. India VIX fell more than 2% to close at 11.94 in the previous the options front, the maximum Call OI is placed at 25,500 and then towards 25,600 strikes while the maximum Put OI is placed at 25,500 and then towards 25,400 writing is seen at 25,500 and then towards 25,600 strikes while Put writing is seen at 25,500 and then towards 25,450 strikes.'Options data suggests a broader trading range in between 25,000 to 26,000 zones while an immediate range between 25,300 to 25,700 levels,' Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited , said.'Nifty formed a small-bodied bearish candle on the daily frame on Wednesday with longer lower shadow indicating support-based buying is intact,' he added.'Now the index has to cross and hold above 25,500 zones for an up move towards 25,650 then 25,800 zones whereas support can be seen at 25,400 then 25,300 zones,' recommended Target Rs 3180| Stop Loss Rs 2930Buy| Target Rs 13,100| Stop Loss Rs 12,250Buy| Target Rs 714| Stop Loss Rs 657Buy| Target Rs 3650| Stop Loss Rs 3450Buy| Target Rs 2500| Stop Loss Rs 2370Buy| Target Rs 630| Stop Loss Rs 605: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Time of India
10-07-2025
- Business
- Time of India
Stocks to buy today: Data Pattern, Cummins India among 6 trading ideas for 10 July 2025
The Indian market is likely to consolidate on Thursday, tracking mixed global cues. The Nifty future closed negatively with losses of 0.24% at 25,550 levels on Wednesday. India VIX fell more than 2% to close at 11.94 in the previous session. On the options front, the maximum Call OI is placed at 25,500 and then towards 25,600 strikes while the maximum Put OI is placed at 25,500 and then towards 25,400 strikes. Call writing is seen at 25,500 and then towards 25,600 strikes while Put writing is seen at 25,500 and then towards 25,450 strikes. 'Options data suggests a broader trading range in between 25,000 to 26,000 zones while an immediate range between 25,300 to 25,700 levels,' Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited , said. Live Events 'Nifty formed a small-bodied bearish candle on the daily frame on Wednesday with longer lower shadow indicating support-based buying is intact,' he added. 'Now the index has to cross and hold above 25,500 zones for an up move towards 25,650 then 25,800 zones whereas support can be seen at 25,400 then 25,300 zones,' recommended Taparia. We have collated stocks from various experts for traders who have a short-term trading horizon: Expert: Jaynit Vora, CMT - Research Analyst, IIFL told ETBureau Data Pattern Ltd: Buy| Target Rs 3180| Stop Loss Rs 2930 UltraTech Cements Ltd: Buy| Target Rs 13,100| Stop Loss Rs 12,250 ICICI Prudential Life Insurance Company Ltd: Buy| Target Rs 714| Stop Loss Rs 657 Expert: Kunal Bothra, Market Expert told ETNow Cummins India : Buy| Target Rs 3650| Stop Loss Rs 3450 Hindustan Unilever: Buy| Target Rs 2500| Stop Loss Rs 2370 Container Corp: Buy| Target Rs 630| Stop Loss Rs 605 ( Disclaimer : Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
