Edelweiss Fin’s stock tumbles 14%

New Delhi: Stock of Edelweiss Financial Services tumbled more than 14 per cent on Thursday after the Reserve Bank imposed business restrictions on Edelweiss Group’s lending and asset reconstruction arms on concerns over evergreening of loans. On the NSE, shares of Edelweiss Financial Services nosedived 14.53 per cent to trade at Rs 66.20 apiece.

The scrip of the company declined 14.45 per cent to Rs 66.26 on the BSE. Meanwhile, the 30-share BSE Sensex plunged 476.05 points to trade at 74,026.85, while the broader NSE Nifty fell 152.80 points to 22,551.90. On Wednesday, the Reserve Bank of India (RBI) imposed business restrictions on Edelweiss Group’s lending and asset reconstruction arms on concerns over evergreening of loans.