Rakesh Jhunjhunwala hikes stake in Edelweiss in Q1; stock surges 10%

Jhunjhunwala bought an additional 4 million equity shares or 0.42 per cent stake in Edelweiss Financial Services during the second quarter of the current calendar year 2021

Shares of Edelweiss Financial Services were locked in the upper circuit of 10 per cent at Rs 86.50 on the BSE in Friday's session after the latest shareholding pattern showed that ace investor Rakesh Radheshyam Jhunjhunwala increased his holding in the company by purchasing additional 4 million equity shares during the April-June quarter (Q2CY21).

Till 02:28 pm, a combined 17.13 million equity shares had changed hands and there were pending buy orders for 2.29 million shares on the NSE and BSE combined. In comparison, the S&P BSE Sensex was down 0.33 per cent at 52,396 points around the same time.

Jhunjhunwala bought