Domestic brokerage Motilal Oswal Financial Services Ltd. on Thursday clarified that its sell-side and buy-side entities operate independently, after a recent trade involving Kaynes Technology India Ltd. drew attention on social media.
The buy-side entity sold Kaynes Tech shares worth Rs 490 crore via large trades on the NSE and BSE on Nov. 18, after the end of a lock-in period. The stock fell over 6% intraday.
Incidently, the brokerage issued a note on Nov. 5 with a 'Buy' rating on the stock and a target of Rs 8,200 on the Kaynes share price, which implied a 23% upside to the closing price of the previous day. The company announced its September quarter results on Nov. 4.
Ashish Garg, an X user, shared these two events, calling out the supposed "irony" in the trade and brokerage commentary.
Yesterday's sudden fall in Kaynes Tech happened because Motilal Oswal sold 8.17 lakh shares ( ~₹489 Cr ) at ~₹6,000 each, immediately after the lock-in period ended.
November 19, 2025
The irony ?
Just two weeks ago, the same Motilal Oswal released a report with a “Buy” rating and an ₹8200… pic.twitter.com/GXjEhuy9d0Without directly addressing the Kaynes Tech trade, Motilal Oswal, co-founder of the financial services firm, explained that their institutional equities research (sell-side) and AMC investment entities and teams (buy-side) operate independently.
The sell-side unit provides "unbiased market insights", while the buy-side assets management adheres to its own investment philosophies, fund mandates, and risk frameworks to make portfolio decisions.
Through misuse of social media handles, baseless rumours are being spread about research and fund management of the Motilal Oswal Group. I want to state unequivocally that these allegations are rubbish, false and completely unjustified. The ill-informed people are just creating…
November 20, 2025"The independence of these two teams is a standard practice and well recognised.... Through misuse of social media handles, baseless rumours are being spread about research and fund management of the Motilal Oswal Group," Oswal said.
"I want to state unequivocally that these allegations are rubbish, false and completely unjustified. The ill-informed people are just creating false informations about us, many of so called experts don't even know how the markets work," he said.
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