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Metal stocks extend gains for second straight session.
At 11:25 ST, the barometer index, the S&P BSE Sensex advanced 511.04 points or 0.62% to 82,368.52. The Nifty 50 index rose 159.50 points or 0.63% to 25,335.30.
In the broader market, the S&P BSE Mid-Cap index added 0.95% and the S&P BSE Small-Cap index jumped 0.89%.
The market breadth was strong. On the BSE, 2,631 shares rose and 1,264 shares fell. A total of 186 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 3.97% to 13.58.
Indian Politics:
Ajit Pawar, NCP chief and Maharashtra’s Deputy Chief Minister, died in a plane crash near Baramati on Wednesday while travelling from Mumbai. Four others, including the pilots and his security personnel, were also killed. The small aircraft, a Learjet 45 operated by VSR, reportedly crashed during a landing attempt near Baramati airport about 45 minutes after take-off, as Pawar was on his way to attend public meetings ahead of the local body polls.
Television visuals showed fire and wreckage at the site, while media reports said all five people on board died. The 66-year-old leader was the nephew of Sharad Pawar and the cousin of Supriya Sule, both of whom were in Delhi and were expected to travel to Pune.
Buzzing Index:
The Nifty Metal index surged 2.53% to 12,129.20, logging a cumulative gain of 5.68% over the last two sessions.
Hindustan Copper (up 8.5%), National Aluminium Company (up 4.47%), Vedanta (up 4.34%), Hindalco Industries (up 3.05%) and NMDC (up 2.11%), Lloyds Metals & Energy (up 1.65%), Adani Enterprises (up 1.61%), Welspun Corp (up 1.52%), APL Apollo Tubes (up 1.4%) and Tata Steel (up 1.24%) advanced.
Stocks in Spotlight:
Mahindra Logistics surged 14.36% after the company reported a consolidated net profit of Rs 3.25 crore in Q3 FY26, compared with a net loss of Rs 9.03 crore in Q3 FY25 Mahindra Logistics surged 14.65% to Rs 337 after the company reported a consolidated net profit of Rs 3.25 crore in Q3 FY26, compared with a net loss of Rs 9.03 crore in Q3 FY25..
Motilal Oswal Financial Services surged 9.65% after the company reported a strong set of earnings for the quarter ended December 2025. The company’s profit after tax (PAT), including treasury income and other comprehensive income (OCI), jumped 58% year on year to Rs 721 crore in Q3 FY26, aided by healthy traction in its asset and private wealth management businesses. Total revenue improved 11% to Rs 1,497 crore in Q3 FY26 as against Rs 1,345 crore in Q3 FY25.
Global Markets:
Asia-Pacific markets were mixed Wednesday, breaking ranks with Wall Street after the S&P 500 closed at a record high.
Meanwhile, Australia saw its headline inflation come in at 3.6% for the last quarter of 2025, its highest level of inflation in six quarters.
Overnight in the U.S., the Nasdaq Composite climbed 0.91% to settle at 23,817.10, while the Dow Jones Industrial Average broke ranks, losing 408.99 points, or 0.83%, and settling at 49,003.4 while S&P 500 added 0.41% to end at 6,978.60.
The S&P 500 futures edged higher ahead of the Federal Reserve’s interest rate decision and earnings reports from major tech companies.
The central bank is widely expected to keep its benchmark interest rate steady at a target range of 3.5% to 3.75%, but traders will be seeking hints on longer-term changes to monetary policy.
Hindustan Copper Ltd, Motilal Oswal Financial Services Ltd, International Gemmological Institute (India) Ltd and Oil India Ltd are among the other gainers in the BSE's 'A' group today, 28 January 2026.
Sterlite Technologies Ltd soared 16.68% to Rs 100.75 at 11:46 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 4.87 lakh shares were traded on the counter so far as against the average daily volumes of 76318 shares in the past one month.
Hindustan Copper Ltd surged 10.96% to Rs 623.85. The stock was the second biggest gainer in 'A' group. On the BSE, 69.39 lakh shares were traded on the counter so far as against the average daily volumes of 47.3 lakh shares in the past one month.
Motilal Oswal Financial Services Ltd spiked 9.33% to Rs 802.4. The stock was the third biggest gainer in 'A' group. On the BSE, 3.22 lakh shares were traded on the counter so far as against the average daily volumes of 55376 shares in the past one month.
International Gemmological Institute (India) Ltd spurt 8.58% to Rs 315.85. The stock was the fourth biggest gainer in 'A' group. On the BSE, 2.54 lakh shares were traded on the counter so far as against the average daily volumes of 43641 shares in the past one month.
Oil India Ltd added 8.17% to Rs 485.25. The stock was the fifth biggest gainer in 'A' group. On the BSE, 13.01 lakh shares were traded on the counter so far as against the average daily volumes of 1.71 lakh shares in the past one month.
The company’s profit after tax (PAT), including treasury income and other comprehensive income (OCI), jumped 58% year on year to Rs 721 crore in Q3 FY26, aided by healthy traction in its asset and private wealth management businesses.
Total revenue improved 11% to Rs 1,497 crore in Q3 FY26 as against Rs 1,345 crore in Q3 FY25.
The company said it has recorded highest-ever operating profit after tax of Rs 611 crore for the quarter ended 31 December 2025, grew 16% year on year.
Motilal Oswal Financial Services’ asset management business posted a robust 65% year-on-year jump in PAT to Rs 227 crore in Q3 FY26. Total assets under management (AUM) grew 33% YoY to Rs 1.89 lakh crore, led by stellar growth in Mutual Fund AUM (up 40%) and Private Alternates AUM (up 62%).
The company’s net mutual fund inflows market share remained strong at 7.6%, with systematic investment plan (SIP) inflows surging 55% YoY to Rs 4,515 crore, securing the highest market share at 5%. In the private fund space, the IBEF Fund V, launched in Q2 FY26, has raised a cumulative Rs 8,000 crore so far, with the final close expected in Q4. The company also launched its maiden Private Credit Fund in January 2026, targeting a fund size of Rs 3,000 crore.
Motilal Oswal Financial Services’ private wealth management segment reported a PAT of Rs 82 crore in Q3 FY26, supported by net inflows of Rs 4,314 crore. Assets under management (AUM) rose 31% YoY to Rs 1.96 lakh crore, driven by family acquisitions and improved productivity of relationship managers. Annual recurring revenue (ARR) grew 28% YoY.
The company’s wealth management segment reported a PAT of Rs 181 crore in Q3 FY26. Brokerage revenue grew 15% sequentially, while cash volume market share remained strong at 6.9% and F&O premium market share rose to 8.4%. Total blended average daily turnover (ADTO) market share stood at 7.8%. The distribution book expanded 34% YoY to Rs 42,775 crore, with the ARR book up 33%. The loan book also grew 25% YoY to Rs 6,630 crore, reflecting strong business traction across key products.
Motilal Oswal Financial Services’ capital markets segment reported a PAT of Rs 70 crore in Q3 FY26, up 15% YoY. The company retained its #1 ranking across IPOs and QIPs in CY25 and covers 350 companies through its institutional research, servicing around 903 clients.
The housing finance business posted a PAT of Rs 42 crore, up 12% YoY, with AUM rising 24% YoY to Rs 5,379 crore. Adjusted for a one-time change in disbursement recognition, disbursements grew 47% to Rs 578 crore (reported Rs 364 crore).
The treasury book expanded 16% YoY to Rs 9,562 crore. Since inception, the book has delivered a healthy XIRR of 18.5% and has grown at a 42% CAGR, supported by reinvestment of operating profits.
The board of directors of Motilal Oswal Financial Services, at its meeting held on Tuesday, 27 January 2026, approved an interim dividend of Rs 6 per equity share (face value Re 1 each) for FY26, to be paid out of the company’s profits.
The record date for the interim dividend has been fixed as Saturday, 31 January 2026. The dividend will be paid to all equity shareholders whose names appear in the company’s register of members or depositories as of the record date. The interim dividend is scheduled to be paid on or before 25 February 2026.
MOFSL is a financial services company. Its offerings include wealth management, capital markets (institutional broking & investment banking), asset & private wealth management (asset management, private equity & private wealth management), housing finance & equity based treasury investments.
Profit after tax (PAT) slumped 67.6% YoY to Rs 362.42 crore, down from Rs 1,120.08 crore a year earlier, and fell 68.8% sequentially from Rs 1,162.06 crore in Q1 FY26.
Profit before tax (PBT) fell sharply by 65.2% YoY to Rs 505.51 crore, as against Rs 1,453.67 crore in Q2 FY25, while declining 64% QoQ from Rs 1,405.59 crore in the preceding quarter.
Despite the overall decline, the company’s operating PAT hit a record high of Rs 554 crore, up 2% YoY and 4% QoQ, driven by healthy growth in its core businesses of asset management, private wealth, and capital markets.
In the Asset Management division, PAT surged 46% YoY to Rs 180 crore, supported by a robust 46% jump in total AUM to Rs 1.77 lakh crore, led by 57% growth in mutual fund AUM. Net sales market share stood at 8.2%, while SIP inflows more than doubled (2.2x YoY) to Rs 4,172 crore. The firm also completed the first close of Rs 6,900 crore for its IBEF V fund, with plans to double the final fund size compared to the previous raise.
The Private Wealth Management business delivered a 23% YoY PAT growth to Rs 110 crore, with net sales tripling to Rs 7,358 crore. AUM rose 19% YoY to Rs 1.87 lakh crore, driven by new client additions and improved productivity.
Meanwhile, the Wealth Management vertical reported a 24% decline in PAT to Rs 170 crore. However, market share remained steady — 7.1% in cash segment, 8.7% in F&O premium, and a blended ADTO market share of 8%. The distribution business continued to grow, with net flows up 29% YoY to Rs 3,079 crore, while the distribution book expanded at a 34% CAGR since FY21, reaching Rs 40,544 crore in September 2025.
The Capital Markets segment registered a 24% YoY PAT growth to Rs 90 crore, reaffirming its leadership position as the #1 ranked merchant banker across IPOs, QIPs, and Rights Issues during H1 FY26.
The Housing Finance division’s PAT climbed 27% YoY to Rs 34 crore, backed by 48% YoY growth in disbursements to Rs 544 crore and AUM growth of 24% to Rs 5,236 crore.
The company’s treasury book also expanded 14% YoY to Rs 8,957 crore, continuing to deliver a healthy XIRR of 18.7% since inception and maintaining a 42% CAGR, driven by consistent reinvestment of operating profits.