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Edelweiss Financial Services gains on looking to strengthen business in retail credit segment

Edelweiss Financial Services is currently trading at Rs. 73.20, up by 0.35 points or 0.48% from its previous closing of Rs. 72.85 on the BSE.

The scrip opened at Rs. 72.90 and has touched a high and low of Rs. 75.05 and Rs. 70.70 respectively. So far 347507 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 210.30 on 04-Jun-2019 and a 52 week low of Rs. 70.70 on 10-Oct-2019.

Last one week high and low of the scrip stood at Rs. 90.25 and Rs. 70.70 respectively. The current market cap of the company is Rs. 6838.35 crore.

The promoters holding in the company stood at 32.93%, while Institutions and Non-Institutions held 34.84% and 32.23% respectively.

Edelweiss Financial Services is looking to strengthen business in retail credit segment through co-lending pacts with State Bank of India, Bank of Baroda, Central Bank of India and Punjab National Bank. The LP-GP (Limited Partners-General Partners) model, where NBFCs partner with capital providers like banks, global and domestic institutional investors will help the sector focus on key capabilities in origination, product innovation, underwriting and recoveries.

Edelweiss Financial Services is primarily engaged in the business of rendering merchant banking services. The company operates in two segments – agency business and holding company activities.