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Edelweiss Financial Services shares rise 4% despite three block deals

LiveMint logoLiveMint 10-03-2017 Ravindra N. Sonavane

Mumbai: Shares of Edelweiss Financial Services Ltd on Friday opened sharply lower after three block deals, but they recovered soon and jumped 4%.

The company witnessed three block deals in which around 70.10 million shares or 8.4% stake of the company changed hands, according to a Bloomberg report.

However, details of the buyers and sellers were not known.

In the opening trade, the stock fell as much as 5% to touch a low of Rs127.25 a share.

However, it soon recovered and was trading at Rs139.40 on BSE, up 4% from its previous close at 9.44am. India’s benchmark Sensex Index rose 0.27% to 29006.13 points.

According to a CNBC report, First Carlyle Ventures sold its 9.2% stake in the company. As of Thursday’s close price First Carlyle Ventures stake valued at around Rs 912 crore.

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