Motilal Oswal started as brokers and proprietary investors at a time when the market was like the wild west. Nearly three decades later, the duo who started the firm have built one of the leading broking businesses in town. and they have also diversified into housing finance and private equity investment to keep business on an even keel during times of market volatility.
THERE’S AN OLD joke about a stock analyst and a Wall Street broker going to the races. The broker suggests putting $10,000 on a horse. But the analyst isn’t convinced: He says he wants to understand the horses and do a risk analysis before investing any money. The broker tells the analyst he’s too theoretical and bets on the horse. He ends up making a killing. “What’s your secret?” asks the analyst. “Simple,” says the broker. “I have two children, three and five years old. I added their ages and bet on number nine.” The analyst was stumped: “But three and five is eight.” The broker’s response? “I told you, you’re too theoretical. Didn’t I just show you that experimentally my calculation is correct?”
Jokes apart, money-making isn’t everybody’s cup of tea. And nobody knows that better than Raamdeo Agrawal, the 59-year-old joint managing director of Mumbai-based Motilal Oswal Financial Services (MOFS). Agrawal moved to Mumbai three decades ago to take the chartered accountancy exam and had no links with the city’s elite broking club. But with a combination of street smarts and tenacity—and perhaps a little bit of luck—he and his business partner, chairman and managing director Motilal Oswal, built one of India’s largest independent stock broking companies. Today, MOFS has a million clients under its belt and a market capitalisation of nearly ₹13,000 crore. Last year, its revenue rose 44% to ₹2,984 crore from ₹1,922 crore in the previous year, while profit leapt to ₹541 crore from ₹360 crore during this period. “I had no knowledge of research or investing but had a thesis that if you buy a good business you can make money. It worked and I have been hooked since,” says Agrawal.
Denne historien er fra September 2018-utgaven av Fortune India.
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Denne historien er fra September 2018-utgaven av Fortune India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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IN GOOD COMPANY
BIRDS OF A FEATHER MAY FLOCK TOGETHER, but what about other collectives of critters-and what do you call them when they do?
Sense or Nonsense?
Why some birds can taste and smell - but others can't
Food-Focused and Fierce
Meet Canada jays and learn why they eat almost anything they can find
Sparrow Look-Alikes
Distinct sounds help separate these similar species
ON THE MOVE
Birds approach the challenges of migration in surprising ways. Learn about how they walk, swim or take the scenic route during their travels.
Embracing the Darkness
From black plants to moody decor, Gothic garden elements can offer a unique outlet to express your dark side
Autumn Wonders
Fall colors offer befitting backdrops for these stunning reader photos
Red-Hot Plants
Scarlet-hued berries add a pop of color to any garden
YOUR OWN Perfect Prairie
Learn how to cultivate an oasis of grassland flora in your backyard
Maple Mania
Amazing facts about this fall foliage mainstay
THE GE NERAL
How ELIZABETH PRELOGAR, America's low-key, high-powered solicitor general, is holding the Supreme Court's feet to the fire
HELLA, YES
Thirty years into her career, Dutch design star Hella Jongerius proves the best ideas-and objects are those that grow and transform along with us
BAD FAITH
From exiled actors to academics, influencers to intellectuals, VF gets under the hood of the Catholic right's celebrity conversion industrial complex
Boys and THEIR TOYS
Inside the hypermacho, Bible-thumping alt-tech universe trying to take on Silicon Valley-from El Segundo
STRANGER Things
The Democrats' short hot summer of \"weird\"
CHARM SCHOOL
In the hands of Ashe Leandro, a historic New York City house gets a delightful makeover
FUNNY BUSINESS
NEARLY 50 YEARS AGO, SATURDAY NIGHT LIVE LAUNCHED A REVOLUTION THAT CHANGED COMEDY, TELEVISION, AND THE MOVIES. NOW DIRECTOR JASON REITMAN HAS RE-CREATED THE CHAOTIC HOURS BEFORE SNL'S FIRST EPISODE. LIVE FROM NEW YORK, IT'S 1975!
A House Divided
The Mellon dynasty has long been known for its old money refinement and discretion. But when TIM MELLON became Donald Trump's biggest donor many members of the family were mystified-and not afraid to talk about it
VANITIES
MAISY STELLA knows how to think outside the box
Changed for Good
Blending architectural styles, the new movie Wicked ventures off the beaten yellow-brick path
Staying Present
At his Manhattan apartment, Queer Eye star and first-time homeowner Antoni Porowski leans into the moment
Going Big
From her vast new studio in the South of France, ceramist Olivia Cognet ups the ante
Table Talk
Gae Aulenti's 1965 marble Jumbo table still has outsize appeal
Earth Tone
In Mexico's Valle de Guadalupe, a new wellness resort looks to the land
BOTH NOW SIDES
SELENA GOMEZ is seriously in loveand making the best work of her career. With the audacious Emilia Pérez hitting theaters and Only Murders in the Building returning to TV, the actor, singer, entrepreneur, and mental health advocate talks, about the climb
shades of eden
In her magical LA garden, artist Mimi Lauter contemplates the cycle of life and the rapturous power of color
GIVE AND LET GIVE
MELINDA FRENCH GATES is speaking out for the rights of women and girls, embracing her role as godmother to her fellow philanthropists, and getting political, even when it's a little uncomfortable.
mother nature
Taking inspiration from her own childhood memories, Jennifer Garner crafts a cozy California home and garden where she and her family can put down roots
THE BILLIONAIRE'S SECRET
THE GERMAN INDUSTRIALIST KLAUSMICHAEL KUEHNE, BORN IN 1937, IS ONE OF THE RICHEST PEOPLE IN THE WORLD, WITH MORE MONEY THAN KEN GRIFFIN, OR MACKENZIE SCOTT, OR FRANÇOIS PINAULT. WHERE DID HIS FAMILY FORTUNE COME FROM? THE NAZIS KNOW
BOTH SIDES NOW
Celebrated for his fantastical, genderfluid fashions, designer Harris Reed brings the same rule-flouting approach to a petite London apartment