Nuvama Wealth Tanks 6% After Edelweiss Group Entities Likely Exit via Rs 2,100 Cr Block Deal

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Nuvama Wealth Management saw its stock plunge by 6% on Wednesday, following news that entities from the Edelweiss group are likely to exit the company through a block deal valued at approximately Rs 2,100 crore. The anticipated exit, which is expected to take place in the coming days, has raised concerns among investors, leading to a sharp decline in the stock's price.



Edelweiss Group's stake in Nuvama Wealth has been under scrutiny, and this move marks a significant step in the company’s ongoing restructuring efforts. The block deal, if executed, would see a considerable reduction in Edelweiss's ownership in Nuvama, which has been an important part of its portfolio for several years.

Market experts suggest that the news of the exit has caused uncertainty among Nuvama's investors, contributing to the heavy sell-off. The transaction could further impact the company's market dynamics as the stakes involved are substantial.

At the time of writing, Nuvama Wealth's stock was trading at Rs [current price], reflecting the ongoing market volatility tied to the developments surrounding the block deal.

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