Motilal Oswal surges 6% on Q1 net rise

The stock ended with a gain of 5.6% at Rs 150. Hefty volumes of 573,810 stocks were traded on the BSE today.
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(Updated at 1059 hrs)

Motilal Oswal Financial Services has surged following a 37% rise in Q1 net.

The stock opened at Rs 146 and surged nearly 8% to touch a high of Rs 153. It is now trading at Rs 152, up 6.5%. The counter has seen comparatively heavy volumes of 39,940 shares as against the two-week daily traded average of 24,378 shares, on the BSE so far.

The stock has jumped 245% from its 52-week low of Rs 44, but is still 72% lower than its 52-week high of Rs 545.

 

The company reported a 37% rise in Q1 net profit at Rs 36 crore when compared to the corresponding quarter a year ago. The total revenue also rose 6% to Rs 149 crore for the quarter ended June 30, 2009 from Q1FY09.