CRISIL upgrades rating of subsidiaries of Motilal Oswal Financial Services Ltd

CRISIL Ratings Limited ("CRISIL") has upgraded the credit rating on long term debt instruments of material subsidiaries of Motilal Oswal Financial Services Limited ("Company") namely Motilal Oswal Home Finance Limited ("MOHFL") and Motilal Oswal Finvest Limited ("MOFL"), to 'CRISIL AA/Stable" from 'CRISIL AA-/Positive'.

The rating takes into account MOHFL's healthy capitalisation profile, strong growth in disbursements and the improvement in its profitability. Further, MOHFL has been able to diversify its liabilities profile and reduce the cost of funds.

Also rating takes into account MOFL's ability to scale up the business along with group's strong market position in the equity broking business.

The revision of the rating also factors in the healthy performance of the core operations of the Motilal Oswal Group, with a record performance in FY2021 and 9MFY22.

Shares of Motilal Oswal Financial Services Limited was last trading in BSE at Rs. 869.10 as compared to the previous close of Rs. 830.25. The total number of shares traded during the day was 10836 in over 906 trades.

The stock hit an intraday high of Rs. 881.85 and intraday low of 828.10. The net turnover during the day was Rs. 9291539.00.

Source : Equity Bulls

Keywords

MotilalOswalFinancialServices INE338I01027 MOSL RatingUpgrade MotilalOswalHomeFinance MotilalOswalFinvest