Motilal Oswal Shares Hit New 52-Week After Q4 Results, Bonus Share Announcement

Shares of Motilal Oswal, which were trading flat on Friday, jumped up sharply as the company posted its earnings for the quarter ended March.

What Happened: The domestic brokerage firm saw its net profit jump multifold to ₹625 crore from the ₹114 crore reported in the same quarter last year. The company’s revenue for the March quarter was at ₹1,569 crore, up 60% on a year-on-year basis.

The company added 1.8 lakh clients in the January-March period. The total number of clients for the Capital Market business was 8.8 lakh. The business also delivered the highest-ever quarterly of ₹251 crore. Asset & Wealth Management businesses reported PAT at ₹210 crore, up 79% YoY.

See Also: Vedanta Shares Up 4% After Q4 Results: Why Analysts Remain Cautious

The company’s board also approved the issuance of bonus shares in a 3:1 ratio. This means that three bonus shares for every one share held will be given to shareholders. The record date has not yet been announced.

Following these developments, shares of the company shot up sharply to hit a new 52-week high of ₹2,678.10.

Price Action: Motilal Oswal’s share price was up 4.20% to trade at ₹2,567.15 in the late hours of trading on Friday.

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