ICICI Direct: Motilal Oswal Q1 Review - Robust Broking Volumes; Diversification Remains Key

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Direct Report.Motilal Oswal Financial Services Ltd. reported a mixed Q1 FY21 performance wherein broking revenue was healthy but asset and wealth management saw pressure.The topline stayed flat at Rs 633 crore (excluding mark to market (MTM) impact) while earnings increased 29% YoY to Rs 167 crore, led by MTM gains on investments.Motilal Oswal is the ninth largest retail broker in India ranked on active client base of 4.1 lakh (client base of 15.4 lakh). With average daily turnover (ADTO) of Rs 28,500 crore, it enjoys 3% market share as on June 2020.Healthy average daily turn over growth at 51% YoY in Q1 FY21 to Rs 28,500 crore, coupled with rise in number of active clients to 4.1 lakh led to robust topline at Rs 343 crore, up 24% YoY.Strong surge in cash volumes led cash ADTO to Rs 3,200 crore, up 88.2% YoY. Volume growth is expected to continue ahead but new regulatory regime of providing upfront margins could impact volumes, though quantum is difficult to ascertain..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

ICICI Direct: Motilal Oswal Q1 Review - Robust Broking Volumes; Diversification Remains Key

ICICI Direct: Motilal Oswal Q1 Review - Robust Broking Volumes; Diversification Remains Key

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