Edelweiss gets the 'Midas' touch

Edelweiss Financial had breached the upper circuit yesterday at Rs.59.95 and today, it is traded at a new high at Rs.64.90. The stock remains around the same high levels currently, up over 5%.

The stock has been scaling new highs on the back of Rakesh Jhujhunwala. As per data available on the exchange, the billionaire investor bought 1.3% stake in the company via bulk deal. He has purchased 1 crore shares at a price of Rs.55/share, from GPC Mauritius, an FII who sold 2.6 crore of Edelweiss shares; selling at Rs.56.34/share on the BSE.