This stock in the financial services industry rose by 6.9 percent after the company announced they are going raise up to 200 crore from non convertible debentures.
At 2.45 pm, 4th october shares of Edelweiss Financial Services Ltd were trading at Rs. 67.35 per share up by 6.9 percent from previous close price of Rs. 63 per share.
Such bullish stock price movements are observed after the company announced through a regulatory filing on Bombay stock exchange (BSE) public issue of secured redeemable non convertible debentures (NCDs) for an amount up to 200 crore.
Looking at the financial statements, the company’s revenue increased by 66.33 percent to Rs. 1,978.64 crore in Q1FY24 from Rs. 1,189.69 crore in Q1FY23, in the same time period net profit increased by 91.59 percent to Rs. 50.54 crore in Q1FY24 from Rs. 26.38 crore in Q1FY23.
Talking about the financial ratios, the company reported return on equity (ROE) of 6.17 percent and return on capital employed (ROCE) of 10.25 percent in the last financial year.
Incorporated in 1995, Edelweiss Financial Services Ltd is one of India’a financial service conglomerate which provides deals in various financial services ranging from brokerage services to life and general insurance, private equity and other investment related services through subsidiaries.
Written by: Vinit Israni
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