Edelweiss Financial surges to record high, zooms 90% in 2017
As Edelweiss Financial Services bagged the approval of the Insurance Regulatory & Development Authority of India (IRDAI) to set up a general insurance business in India, the company’s stock struck a record high of Rs 185, being up by 8% on BSE on April 7, 2017.
Meanwhile the company’s stock in the year 2017 appreciated remarkably by 90% from Rs 97.60; whereas, the S&P BSE Sensex merely rose by 12%.
The stock closed at Rs 181.55, increasing by 5.98% against a 0.18% decline in the benchmark index. It stood at Rs 182.65 on the NSE, with an increase of 6.41%; while a combined 6.79 million share transactions were reported on the counter of BSE and NSE.