Nuvama shares fall 4% on IT department's search operations in Jane Street case: Report

Nuvama Wealth shares dropped nearly 4% after reports of Income Tax searches linked to the Jane Street market manipulation case.

Though not directly accused, Nuvama's role as Jane Street's Indian trading partner triggered investor concerns.

Jane Street is under SEBI scrutiny for a Rs 36,500 crore market scam, with Rs 4,844 crore already deposited in escrow.

SEBI imposed trading bans and asset freezes on Jane Street entities, though partial relief was granted recently.