Shares of Edelweiss Capital increase 3.5 per cent - by parvati4AOM
Shares of Edelweiss Capital increase 3.5 per cent after the financial services firm received regulatory approval from the Securities and Exchange Board of India to start its mutual fund business.
According to media reports, Edelweiss Asset Management plans to launch 8-9 products over the next 12 months. The product portfolio would include broad based equity funds, structured products, arbitrage funds and other innovative fixed income and equity funds in line with requirements of the market.
At 1:15 pm, the company's share rose 3.59 per cent to Rs 858 with volume traded at 68115 against two-week average of 38,987 shares.