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Edelweiss declines after shareholders' rejig via bulk deal

Capital Market 

Edelweiss Financial Services lost 1.48% to Rs 116.10 at 15:20 on after Privatbank IHAG Zurich AG sold 57 lakh shares of the company to BIH SA at Rs 116.85 per share in a bulk deal on the on 13 October 2016.

Meanwhile, the S&P Sensex was up 34.24 points or 0.12% at 27,677.35.

On BSE, so far 1 lakh shares were traded in the counter as against average daily volume of 5.27 lakh shares in the past one quarter. The stock hit a high of Rs 119.60 and a low of Rs 114.80 so far during the day. The stock had hit a 52-week high of Rs 126 on 3 October 2016. The stock had hit a 52-week low of Rs 44.40 on 12 February 2016. The stock had outperformed the market over the past one month till 13 October 2016, surging 18.5% compared with 2.51% fall in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 47.4% as against Sensex's 0.62% fall.

The mid-cap company has equity capital of Rs 82.84 crore. Face value per share is Rs 1.

Privatbank IHAG Zurich AG held 3.88% and BIH SA 1.71% stake in Edelweiss Financial Services as per the shareholding pattern as on 30 June 2016.

On a consolidated basis, Edelweiss Financial Services' net profit rose 53% to Rs 139.68 crore on 27% growth in total income to Rs 1472.18 crore in Q1 June 2016 over Q1 June 2015.

Edelweiss Financial Services offers a range of products and services spanning retail finance, debt capital markets, commodities, financial markets, asset management and life insurance.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, October 14 2016. 15:14 IST