SENSEX NIFTY
Oct 20, 2008, 05.29 PM IST | Source: Moneycontrol.com

Hold Motilal Oswal, target of Rs 77: ICICIdirect.com

ICICIdirect.com has recommended a hold rating on Motilal Oswal Financial Services with a target of Rs 77. The company reported de-growth of 10% (YoY) and 17% (YoY) in consolidated revenues and profit, respectively.

ICICIdirect.com has recommended a hold rating on Motilal Oswal Financial Services with a target of Rs 77 in its October 17, 2008 research report. "Motilal Oswal Financial Services (MOFSL) reported its Q2FY09 consolidated results, which were mostly in line with our expectations. The company reported de-growth of 10% (YoY) and 17% (YoY) in consolidated revenues and profit, respectively. We believe MOFSL is a long-term bet with a better business model in place (franchisee model), cautious management and de-risked business model. We, therefore, revise MOFSLs target price by assigning a P/E multiple of 11x its FY10E EPS of Rs 7 to arrive at a target price of Rs 77,Hold," says ICICIdirect.com's research report.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

.....

To read the full report click here

Set email alert for

ADS BY GOOGLE

video of the day

Be careful while betting on midcaps; like Kotak: Dimensions

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.