India's Motilal Oswal Financial up as ICICI Securities reiterates 'buy'

Motilal Oswal Financial Services

06/04/2023 08:55

** Shares of Motilal Oswal Financial Services  MOFS.NS  rise
as much as 2.8% to 636 rupees, hitting their highest since March
20
    ** ICICI Securities reiterates the buy rating with PT
unchanged at 900 rupees for the financial services co
    ** Adds factoring in of 12% CAGR of core profit after tax
during FY22-FY25E for the capital market business
    ** MOFSL is making investments such as hiring more
salespeople to drive growth in the housing finance companies
segment, which shall yield results in FY24/FY25
    ** Brokerage models 16% assets under management (AUM) CAGR
during FY22-FY25E with Return of Assets (RoA) of 3.5% in FY25E
    ** Stock crosses 50-day moving average but continues to stay
below 100- and 200-day moving averages
    ** Moving Average Convergence Divergence (MACD) line
continue to stay above the signal line since March 28,
suggesting bullish momentum
    ** About 37,925 shares change hands by 1:11 p.m. IST, vs
30-day avg of 113,253 shares
    ** Stock down 9.8% so far this year, up to last close

 (Reporting by Dimpal Gulwani in Bengaluru)
 ((Dimpal.Gulwani@thomsonreuters.com;))