Comments
Shares of Edelweiss Financial Services traded 4 per cent higher today after it got approval recently from the Competition Commission for the US-based Kora’s proposed investment worth USD 75 million (about Rs 532 crore) in Edelweiss Group.
On the BSE, shares were up 4.15 per cent at Rs 93.20 on volumes of over 1 lakh shares as at 11.40 am, Similarly, the stock gained 4 per cent to trade at Rs 93.25, with volumes over 12.45 lakh shares on the NSE.
As per the share subscription agreement, Kora would invest in Edelweiss Securities Ltd (ESL) and Edelweiss Global Investment Advisory (EGIA) business subsidiaries. The deal was announced in August this year.
Also, Edelweiss Global Wealth Management, a financial advisory and product firm, which is amongst the top five in the industry pecking order, is now looking to double its assets-under-advice (AuA) to ₹2 lakh crore in next five years.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.