Edelweiss Financial tumbles over 11% in three days

Edelweiss Financial Services fell 4.42% to Rs 110.25, extending recent losses.

Meanwhile, the S&P BSE Sensex was down 362 points or 0.93% to 38,734.73.

Shares of Edelweiss Financial Services tanked 11.62% in three trading sessions to its current market price of Rs 110.25, from a recent closing high of Rs 124.75 on 20 September 2019.

On the BSE, 87,671 shares were traded in the counter so far compared with average daily volumes of 3.94 lakh shares in the past two weeks. The stock hit an intraday high of Rs 116.25 and an intraday low of Rs 109.35 so far during the day.

The stock hit a 52-week high of Rs 238.85 on 24 September 2018. The stock hit a 52-week low of Rs 93 on 23 August 2019.

Edelweiss Financial Services' consolidated net profit fell 50.1% to Rs 132.02 crore on a 2.6% increase in total income to Rs 2,545.93 crore in Q1 June 2019 compared with Q1 June 2018.

Edelweiss Financial Services is engaged in providing investment banking and advisory services, and holding activities/investments. The firm's segments include agency business, capital based business and life insurance.

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