Edelweiss Financial Services gains most in 3 weeks on unit's fundraise

Edelweiss Financial Services

04/10/2022 07:17

** Shares of Edelweiss Financial Services Ltd  EDEL.NS  rise
as much as 6% to 63.55 rupees ($0.7804), their biggest intraday
pct gain since Sept. 13
    ** EDEL said on Tuesday its unit Edelweiss Alternative Asset
Advisors is raising around $425 million, and is looking to raise
$1 billion  urn:newsml:reuters.com:*:nFWN3150M8
    ** Shares hit their highest since Sept. 23
    ** More than 761,000 shares change hands by 0603 GMT vs
30-day avg of 2.59 mln shares
    ** Stock down 16.7% so far this year, up to last close
($1 = 81.4310 Indian rupees)
 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))