ICICI Securities is recommending Motilal Oswal Financial Services (MOSL) as a buy rating, setting a target price of ₹1,326.
They are impressed by how MOSL has boosted its recurring revenue to 66% this quarter (up from 55% in FY24) and nearly doubled its operating PAT (extreasury) to more than ₹7.5 billion.
Motilal Oswal loan book grows 42%
MOSL's strategy is paying off: mutual funds linked to alternatives and private equity are up 26%, recurring assets in Private Wealth Management jumped 31%, and their wealth management loan book grew by 42%.
All this points to smart moves behind the scenes, and explains why ICICI Securities is feeling optimistic about where MOSL is headed.