ICRA upgrades credit rating of Motilal Oswal Home Finance Ltd

ICRA Limited ('ICRA') has upgraded the credit rating on long term debt instruments of Motilal Oswal Home Finance Limited ('MOHFL') , a material subsidiary of the company to 'ICRA AA-/Stable' from 'ICRA A+/Stable'.

Further, ICRA has also reaffirmed the Credit Rating of 'ICRA AA/Stable' on long term debt instruments of the Company.

The ratings takes into account MOHFL's healthy capitalisation profile and the improvement in its profitability. Further, MOHFL has been able to diversify its liabilities profile (with the addition of new lenders and instruments) and reduce the average cost of funds.

The revision of the rating also factors in the healthy performance of the core operations of the Motilal Oswal Group, with a record performance in FY2021.

Shares of Motilal Oswal Financial Services Limited was last trading in BSE at Rs. 840.7 as compared to the previous close of Rs. 871.75. The total number of shares traded during the day was 75434 in over 5120 trades.

The stock hit an intraday high of Rs. 887.1 and intraday low of 836. The net turnover during the day was Rs. 64575244.

Source : Equity Bulls

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