India's Edelweiss Financial Services slumps on RBI order against units

Edelweiss Financial Services

30/05/2024 05:10

** Shares of Edelweiss Financial Services  EDEL.NS  down
12.3% at 67.9 rupees, its lowest since early April 
    ** India cenbank bars two Edelweiss Group companies from
acquiring financial assets or undertaking structured
transactions
    ** Says the units concerned engaged in "evergreening"
distressed loans
    ** Stock on track to log biggest one-day percentage drop
since mid-March 
    ** Over 7.7 mln shares change hands in first 10 minutes of
trading
    ** Stock set fot busiest trade after seven sessions
    ** Including session's losses, stock is down 12% YTD 



 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))