The move is to boost investor confidence in Edelweiss, whose shares have come off by 54 per cent so far in 2020.Edelweiss Financial Services
promoters Rashesh Shah and Venkatchalam Ramaswamy have increased their stake in the company by acquiring shares worth Rs 1.54 crore through the open market.
The move is to boost investor confidence in Edelweiss, shares of which have come off 54 per cent in 2020, so far. On Wednesday, the stock rose 5 per cent to end at Rs 40.
In the latest market out, financial services firm are one of the worst-hit. Edelweiss promoters join a host of other insiders who have bought shares from the open market to stem the share price rout. Some companies
have announced buybacks to provide a floor to the stock price.