CRISIL revises rating outlook of Motilal Oswal Financial Services Ltd's subsidiaries

CRISIL Ratings Limited ('CRISIL') has made revision in the credit rating 'outlook' on long term debt instruments of material subsidiaries of Motilal Oswal Financial Services Limited ('Company') namely Motilal Oswal Home Finance Limited and Motilal Oswal Finvest Limited, to 'CRISIL AA-/Positive' from 'CRISIL AA-/Stable'. Further, CRISIL has reaffirmed the Credit Rating of 'CRISIL A1+' on commercial paper of the Company and said material subsidiaries.

The revision in outlook factors Motilal Oswal group's ability to scale-up of operations in each of its businesses with greater diversification and presence across multiple segments in financial services and improvement in core earnings.

The rating also continues to reflect the group's healthy capitalisation and its strong market position in its businesses.

Shares of Motilal Oswal Financial Services Limited was last trading in BSE at Rs. 943.25 as compared to the previous close of Rs. 1060.05. The total number of shares traded during the day was 203522 in over 12742 trades.

The stock hit an intraday high of Rs. 1007.05 and intraday low of 935. The net turnover during the day was Rs. 198198599.

Source : Equity Bulls

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