From Mint: 2024-06-10 06:53:46

Motilal Oswal Financial Services (MOFSL) saw its shares surge by 18.7% on Monday, hitting a new all-time high of ₹719.95 on the BSE as the stock began trading ex-bonus. The company announced a 1:3 bonus share issue in May, leading to a 113% increase in stock price for 2024.

In its fourth quarter results, MOFSL reported a record profit after tax of ₹2,626 crore and a 35% RoE for FY24. The company’s consolidated revenue for Q4 FY24 was ₹1,569 crore, marking a 60% increase year-over-year. MOFSL also achieved its highest-ever quarterly and yearly capital market business PAT.

The stock is performing strongly, surpassing all exponential moving averages and possessing a mid-range RSI level of 58. Three out of four analysts covering MOFSL have a “buy” rating on the stock, while the remaining analyst has a “hold” recommendation, indicating positive sentiment towards the company.

With a dividend of ₹14 per share and a history of distributing ₹56 per share in dividends over the past five years, Motilal Oswal Financial Services is showing strong growth potential in its distribution business. Operating in 98% of pin codes and boasting a 6% cross-sell ratio, the company’s AMC business is positioned for significant growth.



Read more at Mint: Motilal Oswal stock surges over 19% to reach all-time high; what’s driving the rally?