Motilal Oswal Financial Services Limited has been gaining attention in the stock market due to its recent surge in share prices.
Last Friday, its shares surged over 5% to close at Rs 2,424.95. Over the past three days, the company’s shares have witnessed a significant 18% increase.
The primary reason behind this surge is the announcement of bonus shares. Shareholders of the company will receive bonus shares in a ratio of 3:1 this week.
Impressive Stock Performance
Motilal Oswal shares have shown remarkable performance this year. Year-to-date, the shares have climbed by 93%, and over the past six months, they have risen by 103%. Comparatively, the stock was priced at Rs 1,196.65 on December 8, 2023.
The maximum return on Motilal’s stock is approximately 1,151%, and it has surged by 258.91% in the last year.
The company currently boasts a market capitalization of around Rs 36,205.47 crore, with its 52-week high and low standing at Rs 2,677 and Rs 660.65, respectively.
Motilal Oswal Bonus Issue
Motilal Oswal Financial Services Limited recently announced a bonus issue in the ratio of 3:1. This means that shareholders will receive three free shares for every one share held.
The record date for this bonus issue has been set as Monday, June 10, 2024, which will also serve as the ex-bonus date for the stock.
Expert’s Insights
Emkay Global has provided positive insights, stating, “MOFS’s March quarter results were excellent, and the housing finance business is slowly recovering, which will positively impact the shares.”
Emkay has reiterated its BUY rating on the stock and adjusted its FY25-26 estimates accordingly. The brokerage firm has set a target price of Rs 2,700/share for this stock.
Motilal Oswal Group’s Business
Motilal Oswal Group has a rich legacy in equities spanning over three decades. Motilal Oswal Asset Management Company Limited (MOAMC) is registered with SEBI as the investment manager of Motilal Oswal Mutual Fund.
Established on November 14, 2008, it offers investment management and advisory services to investors both within and outside India, encompassing mutual funds, AIFs, and portfolio management services.
