Shares of Edelweiss Financial Services on Thursday, May 30 declined more that 14 per cent in initial trade on Thursday after RBI imposed business restrictions against the EARCL), due to concerns regarding regulatory breaches and improper conduct by the entities. The stock fell 14.45 per cent to Rs 66.20 apiece on the BSE. While, at the NSE, it went down by 14.53 per cent to Rs 66.20 apiece.
Edelweiss Financial share price: The share price of Edelweiss Financial Services fell as much as 17 per cent in opening trade today (May 30). This comes after the Reserve Bank of India (RBI) imposed business restrictions on two Edelweiss group entities. The central bank ordered ECL Finance Ltd and Edelweiss Asset Reconstruction Co. Ltd (EARCL) to cease and desist from undertaking fresh
The Reserve Bank of India (RBI) on May 29 directed ECL Finance Ltd (ECL) to cease and desist, with immediate effect, from undertaking any structured transactions in respect of its wholesale exposures, other than repayment and/or closure of accounts in its normal course of business.
Edelweiss Financial Services' stock fell 17.36% to Rs 64 from the previous close of Rs 77.45 on the Bombay Stock Exchange. By 10:13 am, the stock was down 11.50% at Rs 68.55.
Indian shares fell for a
fifth straight session on Thursday, pressured by weakness in
global peers, while some investors trimmed positions ahead of
federal election results. The NSE.