How MOFSL reacted on SEBI warning:
SEBI scrutinized MOFSL’s stock brokerage activities as part of its routine examinations of regulated businesses. Despite the warning, MOFSL stated that the administrative action has no influence on its financial, operational, or other business activities.
Performance: Motilal Oswal Financial Services Ltd’s shares closed at ₹566.85, down ₹24.80 (4.19%) on the BSE.
Motilal Oswal Financial Services experienced a 334% YoY increase in its March quarter consolidated net profit to ₹724.6 crore, with a 108% YoY increase in revenue from operations to ₹2,141.3 crore, and an aggregate amount of ₹534.9 crore in its securities premium account.
Lets Start from begain : On Tuesday (2july 2024) Motilal Oswal Financial Services Ltd (MOFSL) said it has been issued an administrative warning by the Regulatory Body SEBI (Securities and Exchange Board of India).
The warning, outlined in SEBI’s letter dated June 28, 2024, advises the corporation to be cautious about small operational issues in the future.
MOFSL said, We now notify the Exchange that, in accordance with a stock exchange filing, the Company was recommended to exercise caution going forward with minor operational-related problems after receiving an administrative warning from SEBI on July 02, 2024, via letter dated June 28, 2024.
The SEBI periodically conducts exams of our numerous regulated businesses. This letter was sent in connection with a review of the Company’s stock broking activities,” MOFSL noted in its statement to the stock markets.