Edelweiss Shares Surge 8%; Jhunjhunwala Raises Stake

Shares of Edelweiss Financial Services surged over 8 per cent to Rs64.90 on Friday after Billionaire investor Rakesh JhunJhunwala bought nearly 1.3 per cent stake in the company through a bulk deal on Thursday, according to exchange data.

Rakesh JhunJhunwala referred at times as India's Warren Buffet, bought 1 crore shares at a price of Rs55 per share in the domestic broker and investment bank, as per BSE data.