India's Motilal Oswal Financial hits record high

Motilal Oswal Financial Services

09/04/2024 10:21

** Motilal Oswal Financial Services  MOFS.NS  jumps 9.8% to
record high of 2,074.30
    ** Reuters could not immediately ascertain the reason for
the move
    ** Stock trading above its 50, 100 and 200-day moving
averages
    ** MOFS' fwd 12-month P/E is 15x, below industry avg of 16x
and rival Angel One's  ANGO.NS  19x, per Jefferies
    ** Indian wealth managers are well-placed to ride on
country's economic growth & financialization of savings into
capital mkts, where MOFS get 60% rev, Jefferies says
    ** MOFS up 63% YTD vs 18.4% drop in ANGO and 26.4% drop in
IIFL Finance  IIFL.NS 

 (Reporting by Sethuraman NR in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))