Edelweiss Financial

AnZen Trust has acquired two operating inter-state transmission assets, located in the states of Punjab, Haryana and Bihar

In a Q&A, Aditya Narain says India's valuations have come off but are still more expensive than other markets. Also, downward pressure on earnings makes the environment uncertain

Angel Broking, IIFL Securities, Aditya Birla Money, Geojit Financial, Edelweiss Financial, Motilal Oswal Financial and ICICI Securities gained between 4% and 15% on the BSE

The deal values EWM at around Rs 4,300 crore and "unlocks value" for shareholders, the company said

"We think Indian policymakers must catch up and that too in a short time," analysts at the brokerage firm wrote.

The ability of non-banks like Edelweiss to mobilise resources at adequate rates is expected to remain constrained over the near to medium term in the current operating environment

Total income increased to Rs 1,472.18 crore for the quarter ended June 2016