Motilal Oswal Financial Services, leading NBFC, has turned ex-bonus on June 10. The stock price adjusted to its bonus issue ratio and touched a new 52-week high. The stock has gained by nearly 336% from its 1-year lows.
Motilal Oswal Financial Services Share Price:
After hitting a new 52-week high of Rs 719.95 apiece, Motilal Oswal's share price ended at Rs 659.50 apiece on June 10, up by 8.8% on BSE with a market cap of Rs 39,375.03 crore. The stock emerged as a multibagger with gains of as much as 335.9% from its 52-week low of Rs 165.16 apiece.
As per the BSE data, the stock's PE ratio is at 6.59x, and ROE is at 25.19%. YTD, the stock gained by nearly 110%. On year-on-year, the stock zoomed by 299% as of now.
Before turning ex-bonus, Motilal Oswal's share price stood at Rs 2425.65 apiece on June 7, 2024.
Motilal Oswal Bonus Issue:
Motilal shares turned ex-bonus on June 10, for its bonus issue of 3:1 ratio. Simply put, the company will allot 3 (Three) Equity Shares of the face value of Re. 1/- each for every 1 (One) existing Equity Share of the face value of Re. 1/- each held by the Shareholders of the Company as on Record Date.
June 10 is also the record date to determine eligible shareholders. Hence, only those will receive free bonuses who have Motilal Oswal stocks in their portfolio by the end of June 10. Those who buy after June 10 won't be eligible.
BUY Motilal Oswal shares?
As per the Trendline data, the consensus recommendation from 3 analysts for Motilal Oswal Financial Services Ltd. is STRONG BUY. EPS is expected to reduce by 8.8% in FY25. The 1-year average target price is at Rs 2,389 as of June 10, hinting at a whopping 264% upside ahead.
Also, Emkay Global in its note said, "To reflect the Q4 developments, we adjust our FY25-26 estimates and reiterate our BUY rating on the stock, with revised up Mar-25E TP of Rs2,700/share (Rs2,200 earlier). Transfer of the Private Clients Group (PCG) business to Wealth Management (WM) from the Broking business provides the much-needed scale to the WM business as well as better value in the SOTP. Owing to the changes in segmental reporting by the company, our new segmental estimates are not comparable with our earlier estimates. "
Motilal Oswal Group possesses a legacy in equities for over 3 decades. Motilal Oswal Asset Management Company Ltd. (MOAMC) is registered with SEBI as the Investment Manager for Motilal Oswal Mutual Fund. It was incorporated on November 14, 2008. It provides Investment Management and Advisory Services to investors based within and outside India and has Mutual Funds, AIFs and Portfolio Management Services business.
MOAMC has a remarkable turnaround in performance with ~90% of the total schemes outperforming their respective benchmarks. This has led to an improvement in Assets Under Management ('AUM') of the MOAMC to Rs. 71,810 crores in March 2024 from Rs. 45,712 cr in March 2023.
To drive growth, Motilal Oswal has announced strategic leadership changes designed to continue accelerating growth with transformative strategies.
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