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BW Businessworld

Edelweiss Shares Surge 5%; Jhunjhunwala Raises Stake

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Shares of Edelweiss Financial Services rose 5 per cent after billionaire investor Rakesh Jhunjhunwala bought a 1.3 per cent stake in the company via a bulk deal on Thursday (12 June), according to exchange data.

Rakesh Jhunjhunwala, referred at times as India's Warren Buffett, bought 10 million shares at a price of 55 rupees a share in the domestic broker and investment bank, as per BSE data.

(Reuters)