The broking firm will be announcing its March quarter results the same day. Folloing the development, the stock rose 9.06 per cent to hit a fresh all-time high of Rs 2,270.80 on BSE.
The shares of stock broking firm Motilal Oswal surged 5% to days high at Rs 2,185 on Friday after it announced a proposal to consider allotment of bonus shares to its shareholders in an intimation filing to the exchanges.
Investors have to be cautious at this stage. Profit booking in the mid-and small-cap stocks which have shot up on hope and aggressive buying would be a good strategy, suggested an expert.
Stocks that were in focus include names like Motilal Oswal which closed with gains of over 3%, Aurobindo Pharma which rose over 1% to a fresh 52-week high and ESAB India which settled 3% higher on Monday.
Motilal Oswal Financial Services has posted strong financial results for Q1 2022, with net profit growing nearly 17 times YoY to INR527cr ($70.7m), up from INR31cr ($4.2m) YoY, and consolidated revenue from operations close to doubling to INR1,500cr ($201m). As a result, the board has approved the company s broking and distribution business