ICRA upgrades rating of Motilal Oswal Home Finance Ltd

ICRA Limited ("ICRA") has upgraded the credit rating on long term debt instruments of Motilal Oswal Home Finance Limited ("MOHFL"), a material subsidiary of Motilal Oswal Financial Services Limited ("the Company/MOFSL") to [ICRA] AA(Stable) from [ICRA] AA-(Stable).

Further, ICRA have also reaffirmed rating of [ICRA] A1+ for Commercial Paper Programme.

The ratings take into account the Group's healthy operational profile, given its long-standing track record and established position in capital market related businesses. The ratings also consider MOFSL's healthy financial and capitalization profile on a consolidated basis.

The ratings also take into account MOHFL's healthy capitalization profile and the improvement in its profitability, primarily on account of the expansion in the net interest margin with the improvement in the cost of funds.

Shares of Motilal Oswal Financial Services Limited was last trading in BSE at Rs. 760.90 as compared to the previous close of Rs. 763.65. The total number of shares traded during the day was 912 in over 212 trades.

The stock hit an intraday high of Rs. 763.40 and intraday low of 758.45. The net turnover during the day was Rs. 693458.00.

Source : Equity Bulls

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MotilalOswalFinancialServices INE338I01027 MotilalOswalHomeFinance RatingUpgrade