Motilal Oswal Financial Services (MOFSL) shares witnessed a great rally on Friday due to expectations of good results. The company's stock saw a 14 percent rise on the BSE in Friday's intra-day trade, reaching a new high of Rs 1,063.40. The company's stock closed at Rs 1,023.50 with a gain of 10.12 percent on the NSE.

The market price of this stock broking and allied services company has doubled or increased by 109 per cent in less than three months from the level of Rs 508.65 on July 23, 2024. Thus, it has increased by 238 per cent in calendar year 2024 as against the 12.5 per cent rise in the BSE Sensex.

Market-cap crosses Rs 62,000 crore for the first time The market-cap of MOFSL has crossed Rs 62,000 crore for the first time due to a spectacular rally in share price. At 02:38 pm; with a market cap of Rs 62,392 crore, MOFSL was trading 12 per cent higher at Rs 1,039.50 on the BSE. In comparison, the benchmark index was up 0.36 per cent at 81,298. The average trading volume on the counter increased fourfold with a total of 14.14 million equity shares traded on the NSE and BSE. About the Company MOFSL is a diversified financial services company focused on managing the wealth of its clients. MOFSL operates in business segments such as Capital Markets, Asset & Private Wealth Management and Affordable Housing Finance. MOFSL is benefiting from favorable conditions in the capital market space, as evidenced by EBITDA ex-treasury earnings increasing from Rs 260 crore in Q1FY23 to Rs 320 crore in Q1FY24 and Rs 480 crore in Q1FY25.