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Broking stocks in demand; Motilal Oswal Financial hits 52-week high

Motilal Oswal Financial, Edelweiss Financial, Emkay Global Financial Services and IIFL Holdings are up 3-15% on BSE.

SI Reporter  |  Mumbai 

Shares of broking firms are in demand and rallied by up to 15% on back of heavy volumes on the bourses.

Services, Services, Emkay Global Financial Services, and are up 3-15% on BSE.

Financial services firms with broking arms have seen an increase in revenues as trading volumes have risen during the stock market rally.

The aggregate net profit of these four companies increased 78% to Rs 227 crore in July-September quarter as compared to Rs 128 crore in the corresponding quarter of previous fiscal.

Among the individual stocks, Services has rallied 15% to Rs 261 on BSE. The stock opened at Rs 230 and hit a 52-week high of 267 on BSE.

The counter has seen huge trading volumes with a combined 703,209 shares changed hands till 1425 hours, against an average sub 100,000 shares that were traded daily in past two weeks on BSE and NSE.

Services (up 6% to Rs 54), (5% at Rs 56.25) and (3% at Rs 189) are among others gained between 3-6% on BSE.

First Published: Thu, November 27 2014. 15:02 IST