# MOTILALOFS (MOTILALOFS) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/motilalofs

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹1,010
- Change: +2.15%
- As of: 2026-09-18
- 1D return: +2.15%
- 5D return: -0.49%
- 1M return: +3.76%
- Latest complete quarter: fy27_q1

## Faxioms Analysis

_As of 2026-09-18_

### Technical Outlook

As of September 18, 2026, MOTILALOFS is trading at ₹1010.0. The stock exhibits a mixed technical stance across different timeframes. Daily and weekly indicators suggest a generally bullish trend, with the price trading above key moving averages like the 20-day Exponential Moving Average (EMA) and the 50-day Simple Moving Average (SMA), and the Supertrend indicator signaling bullish conditions on the daily and weekly charts. However, the monthly timeframe presents a conflicting signal, with the Supertrend indicator in a bearish state, indicating potential headwinds over a longer horizon. The price is currently positioned near the upper end of its recent trading range, with immediate resistance identified around ₹1018.3 and support found near ₹1003.5. The stock has experienced a positive return of 20% year-to-date, but also shows an annualized volatility of 43% and a maximum drawdown of -43%, highlighting its potential for price swings.

Key watch conditions include monitoring the price action around the immediate resistance level of ₹1018.3. A sustained move above this level could reinforce the short-term bullish sentiment. Conversely, a break below the nearest support at ₹1003.5, especially if accompanied by increased volume, might suggest a near-term pullback. The divergence between the daily/weekly bullish signals and the monthly bearish Supertrend warrants close observation for any signs of trend alignment or further conflict.

- Current price on September 18, 2026: ₹1010.0.
- Nearest resistance level observed at ₹1018.3.
- Nearest support level observed at ₹1003.5.
- Daily and weekly technical indicators suggest a bullish trend, while the monthly Supertrend is bearish.
- Annualized volatility stands at 43% and maximum drawdown is -43%.

- Bullish Engulfing Reversal
- Bearish Engulfing Reversal
- Outside Bar
- Doji
- Inside Bar

### News Context

Motilal Oswal Financial Services (MOFSL) received a credit rating upgrade from India Ratings on September 17, 2026. The rating agency assigned an 'IND AA Plus Stable' rating, signaling improved creditworthiness. This development follows broader market commentary from Motilal Oswal on September 18, 2026, where the brokerage firm expressed a positive outlook on domestic steelmakers due to expected firm steel prices and resilient demand, naming JSW Steel and Tata Steel as top picks. Separately, news on September 17, 2026, detailed upcoming changes to UPI Merchant Discount Rate (MDR) rules, set to take effect from October 15, 2026, which will introduce different charges based on transaction value and merchant category.

- India Ratings upgraded Motilal Oswal Financial Services' credit rating to 'IND AA Plus Stable' on September 17, 2026.
- Motilal Oswal, on September 18, 2026, identified JSW Steel and Tata Steel as top picks within the domestic steel sector, citing expectations of firm steel prices and resilient demand.
- New UPI MDR rules, impacting merchant charges based on transaction value and category, are scheduled to be implemented from October 15, 2026.

- Beyond Tata Sons listing boost, Tata Chemicals investors face earnings pressure
- Motilal Oswal sees surging steel prices to offset cost inflation for metal majors. Here are its top stock picks
- UPI MDR explained: Flat ₹5, 0.40% or 0.02%? Know what applies to merchants, key sectors and capital markets | Mint
- Motilal Oswal Financial Services gets upgrade from India Ratings; stock reacts
- UPI MDR vs cards: Is UPI still cheaper for merchants despite the new charges on ₹2,000+ payments?

### What Changed

As of September 18, 2026, Motilal Oswal Financial Services (MOTILALOFS) is trading at ₹1010.0, an increase from its previous price of ₹988.7. While the company's profile on the NSE remains consistent, recent news highlights the brokerage's views on other sectors, such as steel, where it anticipates rising prices to offset cost inflation for metal majors. Separately, new UPI MDR rules set to apply from October 15, 2026, could impact merchant transaction charges across various sectors, including capital markets.

- On September 18, 2026, MOTILALOFS traded at ₹1010.0, up from ₹988.7.
- Motilal Oswal's brokerage arm has provided an outlook on the steel sector, expecting surging prices to offset cost inflation for metal majors.
- New UPI MDR rules are scheduled to be implemented from October 15, 2026, potentially affecting transaction charges.

- Beyond Tata Sons listing boost, Tata Chemicals investors face earnings pressure
- Motilal Oswal sees surging steel prices to offset cost inflation for metal majors. Here are its top stock picks
- UPI MDR explained: Flat ₹5, 0.40% or 0.02%? Know what applies to merchants, key sectors and capital markets | Mint

### Official Filings

Motilal Oswal Financial Services Limited (MOFSL) has recently disclosed several key financial activities and a significant credit rating upgrade. On September 16, 2026, the company completed the allotment of 7,900 Non-Convertible Debentures (NCDs) with a face value of ₹1,00,000 each, totaling ₹79 Crore. These are secured, rated, and redeemable bonds with a five-year tenure, intended for listing on the National Stock Exchange of India. Additionally, on September 16, 2026, MOFSL confirmed the timely redemption of Commercial Paper worth ₹2,00,00,00,000 (₹200 Crore) and on September 15, 2026, a redemption of ₹375 Crore for listed commercial papers. These actions demonstrate the company's ability to meet its financial obligations. A notable development is the credit rating upgrade by India Ratings and Research, announced on September 16, 2026, and previously on September 15, 2026. The long-term credit rating for MOFSL and its subsidiaries has been revised to 'IND AA+/Stable' from 'IND AA/Positive'. This upgrade is attributed to a stronger business profile, characterized by growth in recurring fee-based revenue, diversified earnings, and expanded Assets Under Management.

- On September 16, 2026, Motilal Oswal Financial Services Limited allotted Non-Convertible Debentures (NCDs) aggregating ₹79 Crore.
- The company confirmed timely redemption of Commercial Paper totaling ₹200 Crore on September 16, 2026.
- On September 15, 2026, Motilal Oswal Financial Services Limited redeemed listed commercial papers amounting to ₹375 Crore.
- India Ratings and Research upgraded the long-term credit rating of Motilal Oswal Financial Services Limited and its subsidiaries to 'IND AA+/Stable' on September 15, 2026 (announced September 16, 2026).
- The rating upgrade reflects improved earnings diversification and recurring fee-based revenue growth.

- Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal
- Motilal Oswal Financial Services Limited has informed the Exchange regarding allotment of 653980 securities pursuant to ESOP/ESPS at its meeting held on September 16, 2026 |SUBJECT: Allotment of Securities
- Motilal Oswal Financial Services Limited has informed the Exchange regarding allotment of 7,900 (Seven Thousand Nine Hundred) Fully paid, Secured, Rated, Redeemable, Listed, Senior Bonds in the nature of Non-Convertible Debentures ( NCDs ) of face value of Rs. 1,00,000/- (Rupees One Lakh Only) each aggregating to Rs. 79 Crore (Rupees Seventy Nine Crore Only). |SUBJECT: Allotment of Securities
- Allotment of Securities |SUBJECT: Allotment of Securities
- Motilal Oswal Financial Services Limited has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL
- Motilal Oswal Financial Services Limited has informed the Exchange regarding a press release dated September 16, 2026, titled "Press Release - India Ratings upgrades Motilal Oswal Financial Services". |SUBJECT: Press Release
- Press Release |SUBJECT: Press Release
- Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal
- Motilal Oswal Financial Services Limited has informed the Exchange about Credit Rating- Revision |SUBJECT: Credit Rating- Revision
- Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal

### Fundamentals

Motilal Oswal Financial Services reported a notable increase in Revenue from Operations, reaching ₹3,425.76 crore in Q1 FY2026-27. This represents a sequential increase from ₹2,676.20 crore in Q4 FY2025-26 and ₹2,111.65 crore in Q3 FY2025-26. The company's Interest Earned also showed a consistent upward trend, from ₹688.94 crore in Q3 FY2025-26 to ₹746.01 crore in Q1 FY2026-27. However, Expenses saw a significant jump in Q4 FY2025-26 to ₹2,886.70 crore before moderating to ₹1,898.38 crore in Q1 FY2026-27. Finance Costs have also steadily increased over the periods, reaching ₹414.24 crore in Q1 FY2026-27. Dividend Income, while small in absolute terms, showed an increase from ₹25.46 lakh in Q3 FY2025-26 to ₹1.53 crore in Q4 FY2025-26, before a slight decrease to ₹1.48 crore in Q1 FY2026-27. Other Revenue from Operations fluctuated, with ₹20.65 crore in Q3 FY2025-26 and ₹3.96 crore in Q1 FY2026-27. The company's operating trajectory indicates revenue growth, but the fluctuating expense base and rising finance costs warrant monitoring.

- Revenue from Operations increased sequentially to ₹3,425.76 crore in Q1 FY2026-27.
- Interest Earned grew consistently, reaching ₹746.01 crore in Q1 FY2026-27.
- Expenses were ₹1,898.38 crore in Q1 FY2026-27, a decrease from ₹2,886.70 crore in Q4 FY2025-26.
- Finance Costs rose to ₹414.24 crore in Q1 FY2026-27.
- Dividend Income was ₹1.48 crore in Q1 FY2026-27.

### Bull Case

Motilal Oswal Financial Services (MOFSL) has received a credit rating upgrade from India Ratings, with the agency assigning an "IND AA Plus Stable" rating. This upgrade reflects a positive assessment of the company's financial health and stability. Technically, the stock shows a bullish trend on the weekly timeframe, supported by its position above key moving averages and a positive Supertrend indicator. The daily trend also indicates strength, with the closing price above the 20-day Exponential Moving Average (EMA) and a positive EMA slope.

- India Ratings upgraded MOFSL's credit rating to "IND AA Plus Stable".
- The stock exhibits a bullish trend on the weekly technical chart, with the Supertrend indicator in a bullish direction.
- On the daily chart, the closing price of ₹1010.0 is above the 20-day EMA of ₹1000.82.
- The weekly trend shows the closing price above the 20-day EMA (₹933.15) and the 50-day EMA (₹886.58).

- Beyond Tata Sons listing boost, Tata Chemicals investors face earnings pressure
- Motilal Oswal sees surging steel prices to offset cost inflation for metal majors. Here are its top stock picks
- UPI MDR explained: Flat ₹5, 0.40% or 0.02%? Know what applies to merchants, key sectors and capital markets | Mint
- Motilal Oswal Financial Services gets upgrade from India Ratings; stock reacts
- UPI MDR vs cards: Is UPI still cheaper for merchants despite the new charges on ₹2,000+ payments?

### Bear Case

The company's monthly trend analysis indicates a bearish Supertrend direction, suggesting potential downside risk over a longer timeframe. While the daily trend shows a bullish Supertrend direction, the monthly view presents a cautionary signal. The company has experienced a maximum drawdown of -0.43 and a current drawdown of -0.07, indicating periods of significant value decline. The annualized volatility stands at 0.43, with a downside deviation of 0.24, highlighting the stock's historical price fluctuations and the extent of returns below the average.

- The monthly trend analysis shows a bearish Supertrend direction as of 2026-09-18.
- The stock has experienced a maximum drawdown of -0.43.
- The current drawdown is -0.07 as of 2026-09-18.
- Annualized volatility is 0.43, and downside deviation is 0.24.

- Beyond Tata Sons listing boost, Tata Chemicals investors face earnings pressure
- Motilal Oswal sees surging steel prices to offset cost inflation for metal majors. Here are its top stock picks
- UPI MDR explained: Flat ₹5, 0.40% or 0.02%? Know what applies to merchants, key sectors and capital markets | Mint
- Motilal Oswal Financial Services gets upgrade from India Ratings; stock reacts
- UPI MDR vs cards: Is UPI still cheaper for merchants despite the new charges on ₹2,000+ payments?

### FAQs

**What recent corporate actions has Motilal Oswal Financial Services Limited undertaken regarding its capital and debt?**

On September 16, 2026, Motilal Oswal Financial Services Limited's Finance Committee approved the private placement allotment of 7,900 Senior Bonds in the form of Non-Convertible Debentures (NCDs) totaling ₹79 Crore. These NCDs have a face value of ₹1,00,000 each, a five-year tenure maturing on September 16, 2031, and are secured by the company's receivables. On the same date, the company also informed the exchange about the allotment of 653,980 securities pursuant to ESOP/ESPS.

**What is the recent credit rating action for Motilal Oswal Financial Services?**

Motilal Oswal Financial Services Limited received a credit rating upgrade from India Ratings. The rating assigned is 'IND AA Plus Stable'.

**What are the recent short-term and year-to-date returns for Motilal Oswal Financial Services?**

As of the technical summary date of September 18, 2026, Motilal Oswal Financial Services has shown a return of 8% in the last month and a year-to-date return of 20%.

**What is the current technical trend and key levels for Motilal Oswal Financial Services?**

As of September 18, 2026, the daily technical trend is bullish, with the closing price at ₹1010.0 being above the 20-day and 50-day Exponential Moving Averages (EMAs) and Simple Moving Averages (SMAs). The supertrend indicator is also bullish at ₹961.5. Key support levels are identified around ₹1003.5 and ₹990.0, while resistance is noted near ₹1018.3 and ₹1023.0.

- Beyond Tata Sons listing boost, Tata Chemicals investors face earnings pressure
- Motilal Oswal sees surging steel prices to offset cost inflation for metal majors. Here are its top stock picks
- UPI MDR explained: Flat ₹5, 0.40% or 0.02%? Know what applies to merchants, key sectors and capital markets | Mint
- Motilal Oswal Financial Services gets upgrade from India Ratings; stock reacts
- UPI MDR vs cards: Is UPI still cheaper for merchants despite the new charges on ₹2,000+ payments?
- Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal
- Motilal Oswal Financial Services Limited has informed the Exchange regarding allotment of 653980 securities pursuant to ESOP/ESPS at its meeting held on September 16, 2026 |SUBJECT: Allotment of Securities
- Motilal Oswal Financial Services Limited has informed the Exchange regarding allotment of 7,900 (Seven Thousand Nine Hundred) Fully paid, Secured, Rated, Redeemable, Listed, Senior Bonds in the nature of Non-Convertible Debentures ( NCDs ) of face value of Rs. 1,00,000/- (Rupees One Lakh Only) each aggregating to Rs. 79 Crore (Rupees Seventy Nine Crore Only). |SUBJECT: Allotment of Securities
- Allotment of Securities |SUBJECT: Allotment of Securities
- Motilal Oswal Financial Services Limited has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL
## Technical analytics

- As of: 2026-09-18
- Daily trend: Weak Downtrend
- Weekly trend: Moderate Uptrend
- Pivot point: ₹990
- Risk regime: Price Risk Currently Contained

### Support levels
- 865.8
- 852
- 809.0375

### Resistance levels
- 1023
- 1056.6
- 1097.1

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +2.15% |
| return_10 | -0.28% |
| return_1m | +7.68% |
| return_1y | +9.42% |
| return_20 | +3.76% |
| return_3m | +6.52% |
| return_5 | -0.49% |
| return_6m | +44.64% |
| return_since_start | +4.08% |
| return_ytd | +20.00% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | contained_risk |
| label | Price risk currently contained |
| summary | Recent drawdown and price variability remain within the producer's contained-risk thresholds. |
| maximum_drawdown | -42.59% |
| annualized_volatility | +43.17% |

## Quarterly financials

- Latest complete quarter: fy27_q1

# Revenue Growth and Profit Recovery as Asset Base Expands

Motilal Oswal Financial Services Limited reported a return to profitability in the quarter ended 30 June 2026, recovering from a loss in the preceding quarter. Total revenue from operations increased by 28% sequentially and 25% year-on-year, reaching ₹3,425.76 crore. Profit before exceptional items and tax turned positive at ₹1,533.84 crore, compared to a loss of ₹194.45 crore in the previous quarter. Net segment assets expanded by 27% over the past year, reaching ₹46,465.50 crore.

## Revenue and Profitability

Revenue from operations rose to ₹3,425.76 crore, up from ₹2,676.20 crore in the fourth quarter of the previous fiscal year and ₹2,737.03 crore in the same quarter last year. Interest earned contributed ₹746.01 crore, a 31% increase compared to the year-ago quarter. Fees and commission income added ₹1,238.57 crore, while net gain on fair value changes contributed ₹1,105.15 crore.

Profitability moved from a loss to a profit. Profit before exceptional items and tax was ₹1,533.84 crore, compared to a loss of ₹194.45 crore in the fourth quarter. Profit after tax amounted to ₹1,273.70 crore, versus a loss of ₹219.11 crore in the prior quarter. Basic earnings per share rose to ₹21.15 from a loss of ₹3.69 per share sequentially.

Tax expense increased to ₹260.14 crore, up from ₹24.66 crore in the previous quarter. Compared to the same quarter last year, tax expense rose 4% from ₹249.75 crore.

## Expense Trends

Total expenses declined 34% sequentially to ₹1,898.38 crore, following a significantly higher expense level of ₹2,886.70 crore in the fourth quarter. On a year-on-year basis, total expenses rose 42% from ₹1,338.56 crore in the first quarter of the previous fiscal year.

Finance costs increased to ₹414.24 crore, up 40% from ₹294.92 crore in the year-ago quarter and 7% higher than the ₹387.72 crore recorded in the preceding quarter. Impairment on financial instruments rose to ₹32.27 crore, a 345% sequential increase from ₹7.24 crore, though it remained 12% below the ₹36.65 crore recognised in the same quarter last year.

Employee benefit expense stood at ₹527.96 crore. Other expenses rose to ₹212.37 crore, up from ₹142.55 crore in the year-ago period.

## Balance Sheet and Capital Position

The company’s asset base continued to expand. Net segment assets reached ₹46,465.50 crore as of 30 June 2026, a 27% increase from ₹36,645.45 crore a year earlier. Net segment liabilities grew to ₹31,969.80 crore, up 33% year-on-year. Unallocable assets were reported at -₹4,530.57 crore, and unallocable liabilities at -₹1,327.42 crore.

Equity capital details show the face value of equity shares was ₹1 per share, down from ₹6,018.60 per share in the fourth quarter of the previous fiscal year. Paid-up equity share capital increased marginally to ₹60.21 crore from ₹60.19 crore in the prior quarter.

## Management Commentary

The Press Release reports that Motilal Oswal Financial Services Limited achieved its highest-ever quarterly Total PAT of ₹1,513 Cr in Q1FY27, led by strong growth in the Asset Management business. Management highlighted that a focus on annuity revenues has led to a 66% contribution, improving quality and predictability, and noted that the company's 10-year track record of growth has been delivered entirely through internal accruals with no dilution.

In the Credit Rating Revision document, Mr. Shalibhadra Shah, Chief Financial Officer, commented that the upgrade to Crisil AA+ recognises the quality of the balance sheet, the diversity of earnings, and the consistency of financial discipline. He added that this strengthens borrowing capacity and supports funding growth across verticals, as the company views the rise in wealth and financialisation of savings as powerful tailwinds for widening its presence in promising adjacencies.

## Key Takeaway

Motilal Oswal Financial Services Limited delivered a profitable quarter with revenue growth of 25% year-on-year and a return to positive earnings after a loss in the previous quarter. While expenses increased significantly compared to the prior year, they decreased sequentially from the elevated level seen in the fourth quarter. The company’s asset base expanded by 27% over the year, reflecting the ongoing growth of its balance sheet.

### Ratios

## Official filings

- 2026-09-17 — Generic Announcement: Motilal Oswal Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/MOTILALOFS_17092026162437_Certificate_-_Fulfilment_of_Payment_Obligations.pdf)
- 2026-09-16 — Generic Announcement: Motilal Oswal Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/MOTILALOFS_16092026142155_ESOP_Allotment_16092026.pdf)
- 2026-09-16 — Generic Announcement: Motilal Oswal Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/MOTILALOFS_16092026142501_MOFSL_NCD_Allotment_16092026_sd.pdf)
- 2026-09-16 — Generic Announcement: Motilal Oswal Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/MOTILALOFS_16092026143215_MOFSL_NCD_Allotment_16092026_sd.pdf)
- 2026-09-16 — Generic Announcement: Motilal Oswal Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_2652_WebXMLFile_20260916_144743115.xml)
- 2026-09-16 — Press Release: Motilal Oswal Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/MOTILALOFS_16092026190244_MOFSL_India_Ratings_Upgrade_Press_Release.pdf)
- 2026-09-16 — Press Release: Motilal Oswal Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/MOTILALOFS_16092026190511_MOFSL_India_Ratings_Upgrade_Press_Release.pdf)
- 2026-09-16 — Generic Announcement: Motilal Oswal Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/MOTILALOFS_16092026190720_Certificate_-_Fulfilment_of_Payment_Obligations.pdf)
- 2026-09-15 — Credit Rating Update: Motilal Oswal Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/MOTILALOFS_15092026183031_India_Rating__Rating_upgrade_Stock_Exchange_Intimation_Final.pdf)
- 2026-09-15 — Generic Announcement: Motilal Oswal Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/MOTILALOFS_15092026184642_Certificate_-_Fulfilment_of_Payment_Obligations.pdf)
- 2026-09-15 — Credit Rating Update: Motilal Oswal Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/MOTILALOFS_15092026184339_CredtiRating.pdf)
- 2026-09-11 — Generic Announcement: Motilal Oswal Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/MOTILALOFS_11092026183056_Certificate_-_Fulfilment_of_Payment_Obligations.pdf)
- 2026-09-09 — Generic Announcement: Motilal Oswal Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/MOTILALOFS_09092026162112_Certificate_-_Fulfilment_of_Payment_Obligations.pdf)
- 2026-09-07 — Generic Announcement: Motilal Oswal Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/MOTILALOFS_07092026183726_Certificate_-_Fulfilment_of_Payment_Obligations.pdf)
- 2026-09-07 — Generic Announcement: Motilal Oswal Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_2652_WebXMLFile_20260907_195233832.xml)
- 2026-09-07 — Generic Announcement: Motilal Oswal Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/MOTILALOFS_07092026193121_Intimation_for_Conference_-2026.pdf)
- 2026-09-07 — Generic Announcement: Motilal Oswal Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/MOTILALOFS_07092026194721_Stock_Exchange_Intimations_Outcome_of_Meeting.pdf)
- 2026-09-07 — Generic Announcement: Motilal Oswal Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/MOTILALOFS_07092026192917_Intimation_for_Conference_-2026.pdf)
- 2026-09-07 — Generic Announcement: Motilal Oswal Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/MOTILALOFS_07092026195013_Stock_Exchange_Intimations_Outcome_of_Meeting.pdf)
- 2026-09-04 — Generic Announcement: Motilal Oswal Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/MOTILALOFS_04092026153352_Certificate_-_Fulfilment_of_Payment_Obligations.pdf)
- 2026-09-03 — Generic Announcement: Motilal Oswal Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/MOTILALOFS_03092026183000_Certificate_-_Fulfilment_of_Payment_Obligations.pdf)
- 2026-09-02 — Generic Announcement: Motilal Oswal Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/MOTILALOFS_02092026174103_Certificate_-_Fulfilment_of_Payment_Obligations.pdf)
- 2026-09-02 — Generic Announcement: Motilal Oswal Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/MOTILALOFS_02092026185036_Intimation_FC_Meeting_NCD_Issuance_Sept_26.pdf)
- 2026-09-02 — Generic Announcement: Motilal Oswal Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/MOTILALOFS_02092026184922_Intimation_FC_Meeting_NCD_Issuance_Sept_26.pdf)
- 2026-09-01 — Generic Announcement: Motilal Oswal Financial Services Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/MOTILALOFS_01092026165038_Certificate_-_Fulfilment_of_Payment_Obligations.pdf)

## News and market events

- 2026-09-18 — Mint: **Beyond Tata Sons listing boost, Tata Chemicals investors face earnings pressure** — A potential value unlock from Tata Sons’ listing has lifted Tata Chemicals, but weak global soda ash prices and rising costs could delay an earnings recovery. — [Source](https://www.livemint.com/market/mark-to-market/rbi-tata-sons-listing-tata-chemicals-shares-soda-ash-earnings-11789715166120.html)
- 2026-09-18 — Economic Times: **Motilal Oswal sees surging steel prices to offset cost inflation for metal majors. Here are its top stock picks** — Motilal Oswal expects firm steel prices, lean inventories and resilient demand to support a shift toward pricing- and cost-led earnings growth for domestic steelmakers. The brokerage sees stronger realisations ahead and favours companies with cost advantages and raw-material access, naming JSW Steel and Tata Steel as its top picks. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/motilal-oswal-sees-surging-steel-prices-to-offset-cost-inflation-for-metal-majors-here-are-its-top-stock-picks/articleshow/134327119.cms)
- 2026-09-17 — Mint: **UPI MDR explained: Flat ₹5, 0.40% or 0.02%? Know what applies to merchants, key sectors and capital markets | Mint** — UPI MDR rules are set to apply from 15 October 2026, with different charges based on transaction value, merchant category, and payment type. Here’s a look at how the framework works and what merchants and consumers need to know. — [Source](https://www.livemint.com/money/personal-finance/upi-mdr-explained-flat-5-0-40-or-0-02-know-what-applies-to-merchants-key-sectors-and-capital-markets-11789651455797.html)
- 2026-09-17 — BUSINESSTODAY: **Motilal Oswal Financial Services gets upgrade from India Ratings; stock reacts** — Motilal Oswal Financial Services, MOFSL, Motilal Oswal shares, India Ratings, Ind-Ra rating upgrade, IND AA Plus Stable, Motilal Oswal Home Finance, Motilal Oswal Finvest, Motilal Oswal Wealth, credit rating upgrade, MOFSL news — [Source](https://www.businesstoday.in/markets/stocks/story/motilal-oswal-financial-services-gets-upgrade-from-india-ratings-stock-reacts-556177-2026-09-17)
- 2026-09-17 — BUSINESSTODAY: **UPI MDR vs cards: Is UPI still cheaper for merchants despite the new charges on ₹2,000+ payments?** — UPI MDR, Merchant Discount Rate, UPI vs Credit Cards, Digital Payments, UPI Charges — [Source](https://www.businesstoday.in/personal-finance/story/upi-mdr-vs-cards-is-upi-still-cheaper-for-merchants-despite-the-new-charges-on-rs2000-payments-556078-2026-09-17)
- 2026-09-17 — Mint: **Paras Defence, Data Patterns, BEL, HAL and more: Why are defence stocks on fire today? Check sector outlook** — Defence stocks gained on Thursday with investors focusing on long-term growth. Key players like Paras Defence and Data Patterns saw significant increases. The Defence Acquisition Council approved  ₹1.1 lakh crore in acquisitions earlier this month. — [Source](https://www.livemint.com/market/stock-market-news/paras-defence-data-patterns-bel-hal-and-more-why-are-defence-stocks-on-fire-today-check-sector-outlook-11789625005479.html)
- 2026-09-17 — The Hindu: **Buzzing stocks for Sept 17: Reliance, Infosys, Krsnaa, Mazagon Dock, Motilal Oswal, Granules,  Fine Organic Chem, Venus Pipes, Highway Infra** — Several Indian companies, including Reliance and Infosys, are making significant moves, from fundraising to new facilities, highlighting a dynamic shift in the corporate landscape — [Source](https://www.thehindubusinessline.com/markets/buzzing-stocks-for-sept-17-reliance-infosys-krsnaa-mazagon-dock-motilal-oswal-granules-fine-organic-chem-venus-pipes-highway-infra/article71475140.ece)
- 2026-09-16 — BUSINESS: **Motilal Oswal Financial Services receives upgrade in LT credit ratings** — From India Ratings and Research — [Source](https://www.business-standard.com/markets/capital-market-news/motilal-oswal-financial-services-receives-upgrade-in-lt-credit-ratings-126091601222_1.html)
- 2026-09-16 — MONEYCONTROL: **Mutual Fund Summit: Active, passive or dynamic? Fund managers weigh in on where investors should put their money** — active mutual funds, passive mutual funds, dynamic asset allocation, active vs passive mutual funds, mutual fund investment strategy, mutual fund asset allocation, active fund managers, systematic active investing, equity mutual funds, mutual fund investing — [Source](https://www.moneycontrol.com/news/business/personal-finance/mutual-fund-summit-active-passive-or-dynamic-fund-managers-weigh-in-on-where-investors-should-put-their-money-14031367.html)
- 2026-09-16 — Mint: **Happy Forgings' order book muscle drives investor confidence** — Happy Forgings saw a decent start to FY27. In the June quarter (Q1FY27), volumes grew 23% year-on-year, aiding the 27% revenue growth. The management expects domestic demand to be robust and exports momentum to improve as the year progresses. It expects high-teens volume growth in FY27. — [Source](https://www.livemint.com/market/mark-to-market/happy-forgings-stock-hits-52-week-high-order-book-margin-expansion-11789543359122.html)
- 2026-09-16 — CNBC-TV18: **New UPI MDR opens ₹18,000 crore revenue pool; Paytm earnings may rise 50%: Motilal Oswal** — Nitin Aggarwal, Head of BFSI, Institutional Equities at Motilal Oswal Financial services explain the revenue split, why UPI growth may remain resilient, and what investors should watch in HDFC Bank's growth trajectory. — [Source](https://www.cnbctv18.com/market/upi-mdr-revenue-opportunity-paytm-pine-labs-hdfc-bank-motilal-oswal-alpha-article-19991608.htm)
- 2026-09-16 — Economic Times: **MFs raise healthcare bets for 4th straight month to 71-month high. Should investors follow?** — Mutual funds raised their healthcare allocation for the fourth straight month in August 2026 to 8.4%, the highest in 71 months. Experts attribute the increase to resilient demand, earnings visibility, structural growth and opportunities in hospitals, specialty pharma and healthcare outsourcing. However, they caution investors against chasing the rally and suggest focusing on valuations, earnings quality and long-term prospects. — [Source](https://economictimes.indiatimes.com/mf/analysis/mfs-raise-healthcare-bets-for-4th-straight-month-to-71-month-high-should-investors-follow/articleshow/134278921.cms)
- 2026-09-15 — Economic Times: **Motilal Oswal deploys Zoho platform across 10,000 users and 15 business verticals** — Motilal Oswal Financial Services has deployed Zoho's unified enterprise platform across its operations. This initiative aims to unify customer data and streamline sales and service functions. The platform consolidates information from disparate systems, creating a single customer view. Relationship managers now access daily-refreshed data for improved client interactions. — [Source](https://economictimes.indiatimes.com/ai/ai-insights/motilal-oswal-deploys-zoho-platform-across-10000-users-and-15-business-verticals/articleshow/134256700.cms)
- 2026-09-15 — Mint: **Cement companies' attempts to hike prices may fall flat** — So far in 2026, stocks of large cement companies have declined more than the 10% fall in benchmark index Nifty50. Valuations have moderated, but unless fundamentals improve, that’s not enticing enough. — [Source](https://www.livemint.com/market/mark-to-market/cement-stocks-india-cement-price-hike-nifty-50-ultratech-cement-acc-ambuja-11789455672474.html)
- 2026-09-15 — Economic Times: **Bourses and brokers may win from India’s proposed auction revamp** — India's securities regulator is considering revisions to the closing auction system, intending to enhance stability in end-of-day trading prices and curb market volatility. While stock exchanges and brokers are likely to reap benefits from these regulatory changes, market makers may encounter stricter constraints on their trading operations. The regulator is currently inviting feedback regarding these proposed adjustments. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/bourses-and-brokers-may-win-from-indias-proposed-auction-revamp/articleshow/134249897.cms)
- 2026-09-15 — Mint: **Bourses and Brokers May Win From India’s Proposed Auction Revamp** — Stock exchanges and brokers could be among the biggest beneficiaries of the Securities and Exchange Board of India’s proposed changes to the newly launched closing auction system that’s caused chaos, while market makers may face tighter constraints. — [Source](https://www.livemint.com/market/bourses-and-brokers-may-win-from-india-s-proposed-auction-revamp-11789435282807.html)
- 2026-09-14 — Mint: **EaseMyTrip co-founder Nishant Pitti pledges 34.51 crore shares to Motilal Oswal; Check travel stock's performance** — Easy Trip Planners co-founder Nishant Pitti pledged 34.51 crore shares worth  ₹212 crore, now representing 8.66% of the company's capital. — [Source](https://www.livemint.com/market/stock-market-news/easemytrip-co-founder-nishant-pitti-pledges-34-51-crore-shares-to-motilal-oswal-check-travel-stocks-performance-11789377257232.html)
- 2026-09-13 — BUSINESSTODAY: **Avoid jewellery; stick to ETFs, bars and coins for investment this festive season: Navneet Damani** — gold investment strategy, silver investment strategy, Navneet Damani, Motilal Oswal Financial Services, gold vs silver, gold ETF, silver ETF, buy gold bars, buy gold coins, gold jewellery investment, making charges on jewellery, COMEX gold prices, COMEX silver prices, festive season gold demand, domestic gold discount, domestic silver discount, precious metals outlook, gold price outlook, silver price outlook, how to invest in gold — [Source](https://www.businesstoday.in/markets/stocks/story/avoid-jewellery-stick-to-etfs-bars-and-coins-for-investment-this-festive-season-navneet-damani-554911-2026-09-13)
- 2026-09-12 — BUSINESSTODAY: **Silver may climb to Rs 3.25 lakh, but January peak looks distant: Navneet Damani** — silver price outlook, silver price target India, Navneet Damani silver forecast, Motilal Oswal commodity research, silver prices India 2026, gold vs silver investment, precious metals outlook, silver ETF buying, silver speculative rally, silver domestic price target, gold price outlook India, festive season gold silver strategy, commodity market outlook, silver investment strategy, gold and silver forecast, precious metals India, silver record high January 2026, COMEX silver outlook, safe haven metals, Business Today commodity news — [Source](https://www.businesstoday.in/markets/stocks/story/silver-may-climb-to-rs-3-25-lakh-but-january-peak-looks-distant-navneet-damani-554903-2026-09-12)
- 2026-09-11 — BUSINESS: **NSE IPO: Exchange eyes revenue diversification beyond options trading** — NSE management says new businesses, SIFs, commodities and ETFs could diversify revenue, while clarifying it has not sought permission to trade its shares on NSE — [Source](https://www.business-standard.com/markets/news/nse-ipo-exchange-eyes-revenue-diversification-beyond-options-trading-126091101307_1.html)
- 2026-09-11 — BUSINESS: **Sri Lotus Developers rallies 8% in two days; what's driving realty stock?** — According to NSE bulk deal data, US-based Capital Group acquired nearly 2% equity stake in the Mumbai-based Sri Lotus Developers and Realty. — [Source](https://www.business-standard.com/markets/news/sri-lotus-developers-rallies-8-in-two-days-what-s-driving-realty-stock-126091100507_1.html)
- 2026-09-11 — MONEYCONTROL: **EaseMyTrip cofounder Nishant Pitti pledges Rs 212 crore shares with Motilal Oswal for personal use** — EaseMyTrip, Nishant Pitti, Motilal Oswal, funding, debt, travel — [Source](https://www.moneycontrol.com/news/business/startup/easemytrip-cofounder-nishant-pitti-pledges-rs-212-crore-shares-with-motilal-oswal-for-personal-use-14027808.html)
- 2026-09-11 — Economic Times: **HDFC Bank shares fall 2% to fresh 52-week low despite victory in Credit Suisse AT1 bonds cases in Bahrain** — HDFC Bank shares fell despite the rejection of all seven Bahrain cases linked to Credit Suisse AT1 bonds. The stock remains under pressure amid governance concerns, recent losses and investor focus on earnings, while brokerages maintain positive views. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/hdfc-bank-shares-fall-2-to-fresh-52-week-low-despite-victory-in-credit-suisse-at1-bonds-cases-in-bahrain/articleshow/134048892.cms)
- 2026-09-09 — CNBC-TV18: **Sensex falls 813 points, Nifty gives up 23,500: 5 reasons why market hit 3-month low** — The Nifty gave up the 23,500 mark as the market slipped to its lowest level in three months, with Brent crude crossing $100 a barrel. — [Source](https://www.cnbctv18.com/market/sensex-falls-813-points-nifty-gives-up-23500-5-reasons-why-market-hit-3-month-low-19987580.htm)
- 2026-09-09 — BUSINESS: **HAL, Divis Labs among 3 stocks MOFSL's Chandan Taparia is bullish on** — Till Nifty holds below 23,700, weakness could extend towards 23,500, then 23,400 levels, while on the upside, hurdles can be seen at 23,800, then 23,900 zones. — [Source](https://www.business-standard.com/markets/news/hal-divis-labs-among-3-stocks-mofsl-s-chandan-taparia-is-bullish-on-126090900119_1.html)

## Business profile

**Strategic vision:** Indian financial services company offering diverse investment solutions.

### Business segments
- **Equity and Stocks:** Facilitating online share trading for clients.
- **Futures and Options:** Providing platforms for derivatives trading.
- **US Stocks:** Enabling investments in international equities.
- **Alternative Investment Funds (AIF):** Catering to sophisticated investors with specialized investment products.
- **Mutual Funds:** Offering a variety of mutual fund schemes for investment.
- **Commodities:** Providing avenues for trading in commodities.
- **Portfolio Management Services (PMS):** Professional management of investment portfolios tailored to client needs.
- **Initial Public Offering (IPO):** Assisting clients in participating in new stock offerings.
- **Bonds and Fixed Deposits:** Providing options for debt instrument investments and fixed-income products.
- **Intelligent Advisory Portfolios (IAP):** Offering advisory services to guide investment decisions.
- **STRATX:** A proprietary platform or service for investment.

### Competitive strengths
- Legacy spanning over three decades in financial services.
- Robust research capabilities built over many years.
- Commitment to environmental sustainability through energy reduction and resource reuse.

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## Freshness and sources

- Data as of: 2026-09-18
- Source: Faxioms public stock analysis API

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