Superstar investor Rakesh Jhunjhunwala marginally increased his stake in Edelweiss Financial Services in the past few months, by 0.05%, bringing his total holding to 1.1% of the company, a stake worth over Rs. 290 crore. The faith paid off - Edelweiss saw its share price rise after declaring Q3 results, where the firm reported a 52.33% jump in consolidated net profit YoY in the December quarter. The company's revenues have also increased by 29.07% YoY to Rs. 2,081 crore. The company has seen returns of over 150% in share price in the past one year.
Promoter pledges in the company have fallen, and FII holding is up. Edelweiss is expecting its book to grow at a CAGR of 21.3% to Rs.35,748 crore by FY19.