Monday , 6 December 2021
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Edelweiss Financial Services trades higher on offloading 61% stake in EGIBL

Edelweiss Financial Services trades higher on offloading 61% stake in EGIBL

Edelweiss Financial Services is currently trading at Rs. 81.60, up by 0.60 points or 0.74% from its previous closing of Rs. 81.00 on the BSE.

The scrip opened at Rs. 81.20 and has touched a high and low of Rs. 84.20 and Rs. 81.10 respectively. So far 269677 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 100.80 on 14-Jul-2021 and a 52 week low of Rs. 50.00 on 04-Nov-2020.

Last one week high and low of the scrip stood at Rs. 84.20 and Rs. 78.40 respectively. The current market cap of the company is Rs. 7767.26 crore.

The promoters holding in the company stood at 32.85%, while Institutions and Non-Institutions held 34.38% and 32.76% respectively.

Edelweiss Financial Services has transferred 61% of the stake held by the Company in Edelweiss Gallagher Insurance Brokers (EGIBL) to Arthur J. Gallagher & Co. (AJG) on October 18, 2021. Consequently, AJG now owns 91% of EGIBL, as a result of which EGIBL has ceased to be the subsidiary of the Company.

Edelweiss Financial Services is primarily engaged in the business of rendering merchant banking services. The company operates in two segments – agency business and holding company activities.

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