Stock split proposal generates interest in Motilal Oswal Financial Services

Motilal Oswal Financial Services jumped 5.71% to Rs 695.05 at 10:18 IST on BSE after the company scheduled a board meet on 21 April 2008 to consider stock split proposal.

The company made this announcement after market hours on Friday, 11 April 2008.

Meanwhile the BSE Sensex was down 39.98 points or 0.25% to 15,774.53

On BSE, 12751 shares were traded in the counter. The scrip had an average daily volume of 22344 shares in the past one quarter.

Motilal Oswal Financial Services (MOFSL) scrip had scaled a 52-week high of Rs 2270 on 4 January 2008. The scrip had touched a 52-week low of Rs 515 on 24 March 2008.

The mid-cap scrip had outperformed the market over the past one month till 11 April 2008, gaining 5.05% compared to the Sensex's return of 2.93%. However it underperformed the market in the past one quarter, declining 66.02% compared to Sensex's decline of 24.10%.

The company's current equity is Rs 14.20 crore. Face value per share is Rs 5.

MOFSL reported 268.20% jump in net profit to Rs 4.86 crore on a 255.50% rise in total income to Rs 11.66 crore in Q3 December 2007 over Q3 December 2006.

MOFSL and its subsidiaries offer a diversified range of financial products and services such as retail wealth management including securities and commodities broking, portfolio management services, institutional broking, investment banking services, and venture capital management and advisory