The sellers were Edelweiss Employees Welfare Trust and Edelweiss employees Incentives and Welfare Controls, which release 11.29 Lakh and 53 Lakh shares in the trade of Tuesday.
Shares of Edelweiss Financial Services rose by 7% on Tuesday to close to RS 107.85 on a different boring day in which both headline indices, Sesex and Nifty, established with 1% cuts.
The share has been a market laggard and fell by almost 2% versus 1% decrease in heart rate indices in the past year. However, the share has applied a fight in the last six months, and almost 14% rose when Nifty and Sesex have won 10% and 8% respectively.
The share acts above its 50-day and 200 days of simple advanced averages of RS 107 and RS 104 respectively, although characterized by sharp volatility. A trendline data suggest the 1-year-old beta of the share at 1.5.
Edelweiss Financial Services reported a consolidated Q1-Nett profit of RS 67 Crore, which is a growth of 13.4% on an annual basis. The total turnover amounted to RS 2,281 Crore, which is a decrease of 2.4% in the corresponding quarter of the last financial year.Also read: Bulk Deals Buzz: Eternal Nets RS 3,220 Crore Koop, Swiggy sees sales action by BNP, Societe Generalale
Edelweiss is a conglomerate for financial services and offers a platform for a diversified customer base in domestic and global regions.
Our continuous and established focus is on understanding the needs of customers and offering the right financial solutions. Present in every financial life phase of a customer, helping them to create wealth, grow wealth and to protect everything, are our most important business lines. It has business interests in retail credit, asset management, reconstruction of assets and insurance.
((Indemnification: Recommendations, suggestions, views and opinions of the experts are their own. These do not represent the views of economic times)
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