Edelweiss Financial Services is currently trading at Rs. 53.00, up by 1.80 points or 3.52% from its previous closing of Rs. 51.20 on the BSE.
The scrip opened at Rs. 52.50 and has touched a high and low of Rs. 54.00 and Rs. 52.50 respectively. So far 28,000 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 73.85 on 29-Jan-2015 and a 52 week low of Rs. 49.50 on 21-Jan-2016.
Last one week high and low of the scrip stood at Rs. 54.00 and Rs. 50.50 respectively. The current market cap of the company is Rs. 4,318.00 crore.
The promoters holding in the company stood at 37.89% while Institutions and Non-Institutions held 19.53% and 42.58% respectively.
Edelweiss Financial Services’ insurance arm - Edelweiss Tokio Life Insurance, one of India’s fastest growing life insurance company has received Insurance Regulatory and Developmental Authority of India’s (IRDA) approval to increase Tokio Marine’s stake to 49% in the Joint venture (JV).
This will be a primary investment by Tokio Marine in the joint venture, a first within the Life insurance space. The increase in Tokio Marine’s stake will lead to a foreign direct investment of over Rs 525 crore.
Edelweiss Tokio Life Insurance is a joint venture between Edelweiss Financial Services, one of India’s leading diversified Financial Services companies and Tokio Marine Holdings Inc., a global leader with over 135 years of experience in the insurance business. Tokio Marine currently owns 26% in Edelweiss Tokio Life Insurance, with Edelweiss owning the remainder.
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