BOM:532892

UBS Starts Motilal Oswal Financial Services at Buy with INR1,150 Price Target

Motilal Oswal Incorporates Pension Fund Management Unit; Shares up 4%

Motilal Oswal Financial Services (NSE:MOTILALOFS, BOM:532892) unit Motilal Oswal Asset Management incorporated a new wholly owned subsidiary, according to a Monday filing on Indian bourses.Shares of the company jumped nearly 4% in Tuesday's trade.Motilal Oswal Pension Fund Management will undertake pension fund management activities and manage schemes regulated by the Pension Fund Regulatory and Development Authority and other relevant authorities.

Motilal Oswal Financial Services' Consolidated Loss Widens in Fiscal Q4

Motilal Oswal Financial Services' (NSE:MOTILALOFS, BOM:532892) consolidated attributable loss widened to 2.21 billion Indian rupees in the fiscal fourth quarter ended March 31, from a loss of 647.7 million rupees a year ago.Loss per share grew to 3.69 rupees from a loss per share of 1.08 rupees a year earlier, the financial services company said in a filing to the Indian bourses on Wednesday.Revenue from operations in fiscal Q4 increased to 26.8 billion rupees from 11.9 billion rupees a year ago.