Cheerful day for Edelweiss Cap, ends with 83%
It was a cheerful day for Edelweiss Capital, a diversified financial services company, which surged 95% before ending the day at Rs 1510.25 (up 83.06%) as against offer price of Rs 825 on the NSE. The stock has touched a high of Rs 1608.75 and low of Rs 1443.75. It has remained above Rs 1500 mark on the back of buying support from institutional investors.
It traded with volumes of 66,86,196 shares and turnover at Rs 1020 crore.
Rashesh Shah, CMD and CEO, Edelweiss Capital said, in an interview to CNBC-TV18, that they are in the final stages of getting the nod from Sebi for MF business; it will kick off in Q1CY08. He said the revenues may not move in line with markets yet, but other businesses will help in stabilising them.
The stock touched a high of Rs 1608.75 and low of Rs 1443.75 before settling the day at Rs 1509.95 on the BSE. It traded with volumes of 36,16,374 shares.
The company had come out with a public issue of 8,386,147 equity shares of Rs 5 each for cash, at a price band of Rs 725-825 per equity share. It had subscribed 111 times.
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Cheerful day for Edelweiss Cap, ends with 83%
MF biz to kick off in Q1CY08: Edelweiss Cap
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