Shares of this multibagger stock under the ‘mid-cap’ category are in focus on Friday after the company’s Board of Directors (BOD) fixed the Record Date for the 3:1 Bonus issue. On a contrasting note, the company’s stock fell around 13 percent in the last five trading sessions for its holders.
With a market capitalization of Rs 31,872.66 crores, the stocks of Motilal Oswal Financial Services Limited (MOFS) started their trading session on Friday at Rs 2,172.75 and currently trade at Rs 2,149.95. The company’s scrip witnessed an intra-day high price of Rs 2210.70 exhibiting a gain of approximately 2.70 percent compared to the previous closing level of Rs 2153.10 apiece.
Such bullish share price movements were observed today after the company, through a regulatory filing with the Bombay Stock Exchange (BSE), intimated key updates.
Last month, the company’s Board approved its ‘first-ever’ issue of Bonus shares in the ratio of 3:1, i.e., three bonus equity shares of the face value of Rs 1 each for every equity share of the face value of Rs 1 each held by the shareholders of the company.
In connection with the same, the company’s Board of Directors, in their meeting held on Thursday, 9th May 2024, has fixed the Record Date for the abovementioned Bonus Issue as “Monday, 10th June 2024”.
During the recent financial quarters, the company’s prime business parameters, viz, its operating revenues as well as after-tax profits, were reported with some positive movements with the former increasing from Rs 1,784 crores during Q3FY24 to Rs 2,141 crores during Q4FY24, and the latter, during the same period, moving from Rs 661 crores to Rs 725 crores.
According to the latest presentations, the company expects promising performance due to increased retail participation in the Indian capital markets along with a 25 percent increase in the monthly SIP flows.
Furthermore, the company plans to double its disbursements pertaining to the ‘Housing Finance’ business in FY25 and has a strong belief in continued growth in the ‘Affordable Housing’ space.
Keeping a purview of the last six months, the company’s stock has been successful in delivering multibagger returns of approximately 105 percent to its stakeholders, i.e., if someone had invested Rs 1 lakh into the company’s stock six months ago, it would have converted to Rs 2.05 lakhs.
Incorporated in 1987, Motilal Oswal Financial Services Limited is a Mumbai-based company engaged in the business of offering financial services. The company offers broking and distribution services, such as equities, derivatives, currencies, commodities, asset management, and other investment products. It serves High Net Worth Individuals (HNIs), Mutual Funds, Foreign Institutional Investors, and other corporate clients.
Written by Amit Madnani
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