New Delhi, July 4 -- Nithin Kamath, CEO and co-founder of Zerodha, praised the Securities and Exchange Board of India (SEBI) for taking action against US trading firm Jane Street over alleged stock market manipulation, through which the firm reportedly made over Rs.36,500 crore in gains.

The 45-year-old entrepreneur described Jane Street's alleged actions as "blatant market manipulation" and expressed surprise that such practices continued despite multiple warnings from the exchanges.

In a 105-page order on Thursday evening, SEBI detailed how Jane Street manipulated Indian stock market indices through its trades in the derivatives segment. In one of the most stringent actions ever against a foreign trading firm, SEBI has barred Jane Str...