Angel One Is Still A 'Buy' For Motilal Oswal Post Q1 Results, But Cuts Target Price — Here's Why

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Motilal Oswal Report

While the near-term outlook is not encouraging for the broking segment, the structural story remains intact. The MTF book can aid the broking segment through higher ticket sizes in the cash segment and better NIMs as interest rates decline.

Angel One Ltd.’s strategy to diversify its revenue stream has started reflecting in revenue, especially credit distribution. In the medium term, wealth management and financial product distribution through the AP channel should start contributing meaningfully.

We broadly retain our EPS estimates as the rise in distribution revenue and higher cash realization are offset by higher employee costs. Reiterate Buy with a one-year target price of Rs 3,200 (premised on 20 times FY27E earnings per share).

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit. 

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.