Edelweiss Financial Services trades in green on acquiring Forefront Capital Management

Edelweiss Financial Services is currently trading at Rs. 34.20, up by 0.15 points or 0.44% from its previous closing of Rs. 34.05 on the BSE. The scrip opened at Rs. 35.30 and has touched a high and low of Rs. 35.30 and Rs. 34.00 respectively. So far 28224 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 37.80 on 25-Apr-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. 37.80 and Rs. 33.80 respectively. The current market cap of the company is Rs. 2626.33 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 acquired  Mumbai based Forefront Capital Management, a high net worth focused Asset Management Company that spans the alternative as well as the traditional investment space. Forefront will be part of the Edelweiss Group and this will further strengthen and diversify Edelweiss's presence in the asset management space. Forefront currently manages a wide array of investments focused on the absolute return space, from value oriented equity strategies to multi-asset allocation strategies and has developed deep expertise in the full spectrum of India focused asset management - research, advisory, investments and trade execution. Distributed by leading banks, wealth management houses and IFAs, it caters to close to 200 clients across 12 cities that include corporate treasuries, promoters, CXOs, and prominent single family offices Edelweiss Financial Services (EFSL) is India’s leading diversified financial services company. It is engaged in the business of investment banking, brokerage services, asset management and financing.