Shares of Motilal Oswal Financial Services gained as much as 20% on Monday taking the stock to an all-time high. The stock is trading ex-bonus from Monday's trading session. This means that the bonus shares issued to shareholders have now begun to trade on the index.
Motilal Oswal Financial Services announced a 3:1 bonus issue last month, which was the first time it issued bonus shares to shareholders. This means that shareholders were issued three free shares for every one share they held as on the record date.
With Monday's surge, the stock is now up 113% for 2024. This is the best calendar year performance so far since 2017, during which the stock had nearly tripled, with gains of 186%.
Out of the four analysts that have coverage on the company, three of them have a "buy" rating on the stock, while the other one has a "hold" rating.
For the March quarter, Motilal Oswal reported a 334% jump in its net profit to ₹724.6 crore from ₹167 crore in the year-ago period.
The company's revenue from operations rose 108% YoY to ₹2,141.3 crore, compared to ₹1,027.4 crore. In February 2024, Motilal Oswal had declared a dividend of ₹14 per share. Over the last five years, the company has paid dividends worth ₹56 per share to shareholders.
Shares of Motilal Oswal are trading off the day's high but with gains of 9.7% at ₹666.3.
Motilal Oswal Financial Services announced a 3:1 bonus issue last month, which was the first time it issued bonus shares to shareholders. This means that shareholders were issued three free shares for every one share they held as on the record date.
With Monday's surge, the stock is now up 113% for 2024. This is the best calendar year performance so far since 2017, during which the stock had nearly tripled, with gains of 186%.
The stock had also gained 81% in 2023.
Out of the four analysts that have coverage on the company, three of them have a "buy" rating on the stock, while the other one has a "hold" rating.
For the March quarter, Motilal Oswal reported a 334% jump in its net profit to ₹724.6 crore from ₹167 crore in the year-ago period.
The company's revenue from operations rose 108% YoY to ₹2,141.3 crore, compared to ₹1,027.4 crore. In February 2024, Motilal Oswal had declared a dividend of ₹14 per share. Over the last five years, the company has paid dividends worth ₹56 per share to shareholders.
Shares of Motilal Oswal are trading off the day's high but with gains of 9.7% at ₹666.3.
First Published: Jun 10, 2024 10:55 AM IST
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