Shares of Edelweiss Financial Services are on focus on Thursday’s session after a block trade transaction. Abakkus Asset Manager Private Limited, led by Sunil Singhania, bought more than 64.3 Lakh shares from SmallCap Edelweiss Financial Services in a block transaction worth £ 64. The shares were obtained at a price of £ each. The sellers involved were Edelweiss Employees Welfare Trust and Edelweiss’s incentives and welfare trusts, which sold 11,29 Lakh and 53 Lakh shares at Tuesday’s trade session respectively. Tuesday, shares of Edelweiss Financial Services finished 7% higher at £ 107.85 on the BSE. Indian markets are closed today due to Ganesh Chaturthi. Last week, Edelweiss Financial Services, a global investment firm, announced that Westbridge Capital Bought a 15% stake in Edelweiss Asset Management for £ 450 crore. This transaction places the valuation of the asset management company at around £ 3,000 crore. The agreement is beneficial to all involved and arrives in time for Edelweiss Mutual Fund (MF), as it is transitioned to the next growth phase, according to a statement from Edelweiss Financial Services. Edelweiss Financial Services-Q1 leads to the first quarter of FY2025-26, Edelweiss Financial Services recorded a net profit of £ 66.77 crore, reflecting an increase in a year-on-year of 13.38%. The total turnover is £ 2,245.65 crore, which is a 3.42% decline compared to the previous year. Profit before tax increased by 5.43% year -on -year and reached £ 110.39 crore. Rashesh Shah, chairman of Edelweiss Financial Services, noted that the balance sheet remains strong, with well -capitalized operations and positive momentum on key indicators. The company is committed to its core goals, with the aim of increasing profitability in its underlying businesses, which has had a composite annual growth rate of 29% since June ’23. Shah said their insurance initiatives are expected to reach FY27 Breakeven, with losses that decrease by 93% for this term. In addition, they are working on their corporate net debt reduction strategy, after identifying different levers for the next three years. At the same time, they strengthen the EAAA business and plan to start the IPO around 2026. Disclaimer: The views and recommendations given in this article are those of individual analysts. This does not represent the views of coin. We advise investors to check with certified experts before making investment decisions.
The Abakkus asset manager of Sunil Singhania acquires an interest worth £ 64.30 CR in Edelweiss Financial Services. Check details
