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Billionaire Ken Griffin’s Citadel Securities has hired an options trader in India this week and plans to add more staff to bolster its operations in the South Asian nation, according to people familiar with the matter.The market-making giant has tapped Prajual Maheshwari to join Citadel Securities India Markets Pvt. in Gurugram from high-frequency trading firm Aakraya Research in Mumbai, one of the people said, asking not to be named discussing private information. The Miami-based company aims to recruit more traders and senior roles at its Indian operations, the people added.Citadel Securities declined to comment on its India hiring plans, while Maheshwari did not respond to an email request for comment.Citadel Securities’ expansion in India comes at a time when high-frequency trading firms have been jolted by the crackdown on Jane Street Group, which was temporarily banned by the nation’s securities regulator last month on allegations of market manipulation that the firm has denied. That, plus severe curbs to halt an options frenzy that led to billions of dollars in losses for retail investors, raised concerns that global trading giants may hold back on their investments.Still, a deepening stock and options market, booming share sales and billions of dollars in inflows from retail investors have made India a standout opportunity for traditional market makers such as Citadel Securities and its peers Optiver, IMC Trading and Jump Trading. The nation remains the world’s top destination for exchange-traded derivatives despite the Securities and Exchange Board of India’s clampdown. Citadel Securities opened its Gurugram office in 2022 and has more than a dozen employees there after hiring a chief operating officer and head of trading for the country earlier this year. The Indian unit deals both in cash equities and derivatives, with revenue climbing to 29 billion rupees ($333 million) in its first full year of operations.The market-maker is also expanding in Hong Kong. Earlier this year, people familiar with the matter said the firm was adding Mayank Narang to its Asia chief operating officer team, while Redha Achour joined in April to head regional credit trading.

Anil Ambani-led Reliance Infrastructure and Reliance Power saw their shares surge sharply over the past two sessions, supported by significant project-related announcements that lifted investor sentiment. Reliance Infrastructure’s stock rose 10.28% in two days to hit a high of Rs 289.25 on the BSE on Wednesday, while Reliance Power zoomed 10.2% to a high of Rs 47.70 over the same period.The rally was sparked after Reliance Infrastructure secured a Letter of Award (LoA) from NHPC for a large solar power and battery storage project, while Reliance Power announced its participation in a new joint venture in Bhutan, boosting its clean energy portfolio.Here are the details:Reliance InfrastructureReliance Infrastructure announced that it had received a Letter of Award from NHPC, a Navratna central public sector enterprise, for a 390 MW inter-state transmission system (ISTS) connected solar power project coupled with 780 MWh of Battery Energy Storage System (BESS).Once commissioned, the project will add 700 MWp of solar DC capacity and 780 MWh of storage capacity to the Reliance Group’s portfolio, further consolidating its leadership in renewable energy solutions.The winning tariff for the project was discovered at Rs 3.13/kWh, positioning it among the most competitively priced offerings in India’s energy transition landscape. The tender, floated by NHPC, witnessed strong participation from 15 entities, with 14 qualifying for the e-reverse auction. It was oversubscribed nearly four times, underlining heightened industry interest in dispatchable renewable energy solutions.This development will expand Reliance Group’s clean energy pipeline to more than 3 GW of solar DC capacity and 3.5 GWh of storage capacity, making it India’s largest player in the integrated solar plus BESS segment.The company highlighted that the bid marks another step in its vision of building scale in renewable energy and energy storage infrastructure.Reliance PowerReliance Power, already holding a renewable energy portfolio of nearly 2.5 GW of solar and 2.5 GWh of BESS capacity, disclosed the incorporation of GDL – Reliance Solar Pte Ltd (GRSPL), a new associate company under a joint venture structure in Bhutan.The entity has been incorporated under Gelephu Mindfulness City, a Special Administrative Region (SAR) in Bhutan, and represents a 50:50 JV between Green Digital Private Limited, a state-owned enterprise of the Royal Government of Bhutan, and Reliance Enterprises Private Limited (REPL).REPL has subscribed to 225,000 shares of USD 100 each in cash, representing a 50% stake, which translates to Reliance Power indirectly holding 25% of GRSPL. The venture falls within the renewable and green energy sector and is expected to expand Reliance Power’s international footprint in clean energy projects.The company stated that the acquisition of this stake was carried out at arm’s length, and that the associate is a newly incorporated entity yet to commence operations.With this addition, Reliance Power’s combined clean energy pipeline now stands at over 3 GW of solar DC capacity and 3.5 GWh of BESS capacity, consolidating its position as India’s largest integrated solar + BESS player.Also read: HAL, among other defence stocks in focus after Govt clears Rs 62,000 crore Tejas Mark 1A deal(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times

Immigrants seeking a legal pathway to live and work in the United States will now face new scrutiny over alleged “anti-American” activity as part of their benefit requests, according to updated guidance by US Citizenship and Immigration Services (USCIS). The revised policy manual directs officers to consider whether applicants have previously supported, endorsed, or promoted anti-American or terrorist ideologies. Antisemitic activity and affiliation with antisemitic organizations will also weigh heavily against applicants in cases where officers exercise discretion. Expanded vetting through social media USCIS has also widened the scope of social media checks to cover more categories of benefit requests. Reviews for anti-American activity will now be added to that vetting. The agency said such behaviour will be treated as a strongly negative factor when deciding whether to grant immigration benefits. “America’s benefits should not be given to those who despise the country and promote anti-American ideologies. U.S. Citizenship and Immigration Services is committed to implementing policies and procedures that root out anti-Americanism and supporting the enforcement of rigorous screening and vetting measures to the fullest extent possible,” said USCIS spokesman Matthew Tragesser.— USCIS (@USCIS) Impact on discretionary analysis The updated policy emphasizes that compliance with immigration laws will remain a key factor in decision-making. Officers will now be guided to deny applications where evidence shows support for terrorist groups, antisemitic terrorism, or the promotion of anti-American ideologies. The changes also extend to EB-5 investor petitions and other applications where issues of national security, fraud, misrepresentation, or criminal misuse are involved. With this update, USCIS underlined that while immigration benefits offer opportunities to live and work in the United States, they are considered a privilege and not an entitlement.