Gangster opens fire at cops in TN during murder case probe
Coimbatore (TN) (PTI): A murder accused was injured in a brief exchange of fire with police after allegedly shooting at the personnel using a country-made gun hidden in a bush in Saravanampatti here on Tuesday, officials said.
Police said Sanjay Raja, the leader of a local gang in Coimbatore, was allegedly involved in the murder of a man in Avarampalayam area of the city a fortnight ago. He had surrendered before a court in Chennai a few days ago and was remanded in custody.
Around 7 am on Tuesday, police took the accused to Saravanampatti in the city to recover a country-made pistol apparently used in the murder by the gang.
When the team was scouring the place for the weapon, Raja suddenly got hold of the gun hidden in the bush and fired a round at the police inspector, who managed to avoid it, they said.
As he attempted to shoot at a sub-inspector, the policeman fired in self-defence on the left leg of the gangster, who fell down and dropped the gun, police added.
Raja was then taken to the government hospital where he is receiving treatment, police further said.
The pistol used in the firing was recovered by police.
Besides Raja, four other gang members surrendered before court at Arakkonam in Ranipet district a couple of days ago over the murder case.
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SEBI must name 'big players' profiteering at expense of small traders in F&O trading: Rahul Gandhi
New Delhi, Sep 24: Congress leader Rahul Gandhi on Tuesday said 90 per cent of small investors have lost Rs 1.8 lakh crore in Futures and Option (F&O) trading in three years and asked the SEBI to reveal the names of the "so called big players" profiteering at their expense.
More than 91 per cent, or 73 lakh, individual traders lost money in the F&O segment in FY24 with an average net loss of Rs 1.2 lakh per person, a study conducted by markets regulator Securities and Exchange Board of India (SEBI) revealed on Monday.
Further, 93 per cent of over 1 crore individual F&O traders incurred average losses of about Rs 2 lakh per trader (inclusive of transaction costs) during the three years from FY22 to FY24. The aggregate losses of such traders exceeded Rs 1.8 lakh crore during the period.
Gandhi, who is the leader of the Opposition in the Lok Sabha, said on X, "Uncontrolled F&O trading has grown 45X in 5 years. 90% of small investors have lost ₹1.8 lakh Cr in 3 years."
"SEBI must reveal the names of the so called 'Big Players' making a killing at their expense," the former Congress chief said.
The study said in FY24 alone, individuals incurred about Rs 75,000 crore in net losses.
It found the top 3.5 per cent of loss-makers -- about 4 lakh traders -- faced an average loss of Rs 28 lakh per person over the same period, inclusive of transaction costs.
On the other hand, only 7.2 per cent of individual F&O traders made a profit over the period of three years and only 1 per cent of individual traders managed to earn profits exceeding Rs 1 lakh, after adjusting for transaction costs.
Moreover, the number of retail traders, or individual traders, has almost doubled in two years to about 96 lakh in FY24 from about 51 lakh in FY22.
Although such investors contributed about 30 per cent to the total turnover in FY24, they are a clear majority in number terms, as 99.8 per cent of total traders in the equity F&O segment are individuals.
"The availability of sophisticated trading platforms and lower transaction costs have enabled retail investors to actively trade in options and futures contracts, contributing to the surge in market liquidity," SEBI said.
The regulator said rapid growth in F&O trading activity has highlighted the need for investor education and risk management practices, as a significant proportion of retail traders continued to incur losses in the market.
Uncontrolled F&O trading has grown 45x in 5 years.
— Rahul Gandhi (@RahulGandhi) September 24, 2024
90% of small investors have lost ₹1.8 lakh Cr in 3 years.
SEBI must reveal the names of the so called “Big Players“ making a killing at their expense.
