Edelweiss Financial Services soars on getting nod to increase FIIs limit to 40%

Edelweiss Financial Services is currently trading at Rs. 42.00, up by 4.85 points or 13.06% from its previous closing of Rs. 37.15 on the BSE. The scrip opened at Rs. 37.95 and has touched a high and low of Rs. 42.00 and Rs. 37.95 respectively. So far 394507 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 42.00 on 19-May-2014 and a 52 week low of Rs. 24.90 on 26-Nov-2013. Last one week high and low of the scrip stood at Rs. 42.00 and Rs. 34.20 respectively. The current market cap of the company is Rs. 3235.10 crore. The promoters holding in the company stood at 37.15% while Institutions and Non-Institutions held 22.62% and 40.23% respectively. Edelweiss Financial Services, one of India's leading diversified Financial Services Company, has received an approval to increase its limits of Foreign Institutional Investors’ (FIIs) holding in the equity shares of the company from 28% to 40%. The board of directors at its meeting held on May 17, 2014 has approved for the same. Edelweiss Financial Services is India’s leading diversified financial services company. It is engaged in the business of investment banking, brokerage services, asset management and financing.