Ace Investor Rakesh Jhunjhunwala Raises Stake in Edelweiss Financial Services

NEW DELHI: Ace investor Rakesh Jhunjhunwala raises stake in Edelweiss Financial Services, as the shares of the financial company hit an upper circuit of 10% to Rs 86.50 on the BSE in Friday's session. As per the most recent stock rise, Jhunjhunwala expanded his stocks in the company by buying more 4 million equity shares in the first quarter of financial 2022. Last month, his along with his wife's holdings were worth around 50 lakh shares with an investment of Rs 146.8 crore.

Jhunjhunwala has gotten a 0.42% stake in Edelweiss Financial Services during the second quarter of the current schedule year 2021, as the company revealed while sharing shareholding design. The information accessible on BSE shows that now in general holding of Rakesh Jhunjhunwala in Edelweiss Financial Services has developed to 1.6 percent (15.125 million equity shares) from 1.19 percent (11.125 million equity shares) toward the end of March 2021 quarter.

The BSE information additionally shows that an expert investor hiked its holding in the company almost following a gap of one year, as Jhunjhunwala had held 9.69 million shares or a 1.04% stake in Edelweiss Financial Services in the March 2020 quarter. The scrip has bounced over 50% in the last two and half months, while it has become more than 16% in the last five sessions.

Founded in 1995, the Edelweiss Group is one of India's leading expanded financial services companies, giving a wide scope of financial products and administrations to a considerable and enhanced client base that incorporates corporations, institutions, and people. Other than Edelweiss Financial, Jhunjhunwala has no less than 40 company stocks in his portfolio, including Tata Motors, Titan, and Tata Consumer Products.

The latest portfolio of Rakesh Jhunjhunwala is 37 stock prices with a net worth of over Rs 19,481.1 Crore, as BSE share stock rise about the investor.

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