Motilal Oswal AMC elevates Prateek Agrawal as MD
Motilal Oswal Asset Management Company has elevated Prateek Agrawal as MD & CEO with eect from Friday. He will take charge from Navin Agarwal, who will return to the parent company.
Prateek, who is currently executive director, joined MO AMC in October 2022.
Akhil Chaturvedi, currently Chief Business Officer, has been elevated as Executive Director.
With over 14 years of experience, Niket Shah, Fund Manager, has been promoted as Chief Investment O¦cer. All of them will start on their new roles from Friday.
Raamdeo Agrawal, Chairman, Motilal Oswal AMC, said promoting Prateek reinforces commitment to internal
Prateek Agrawal has been elevated as MD & CEO, Motilal Oswal AMC
capabilities and a culture of growth and excellence.
The elevation of Akhil and Niket underscores their proven track record and dedication in solidifying their invaluable leadership roles within the organisation, he said.
Ninety per cent of the schemes of MO AMC have outperformed their respective benchmarks.
MCX (SELL)
Target: ₹3,435
CMP: ₹4,161.25
In Q4FY24, Multi Commodity Exchange of India (MCX) delivered revenue growth of 35.4 per cent on a y-o-y basis on the back of improving average daily turnover (ADT) of options contracts, which increased by 148.7 per cent on a y-o-y basis. MCX has reported an EBITDA margin of 56.3% in Q4-FY24 as the contract with 63 moons technologies, which previously weighed on margins expired in December 2023.
With the cessation of technology-related costs, MCX’s EBITDA margins have attained their highest level since 2014. We expect MCX to continue with the current margin trajectory for the foreseeable future. The company is targeting the launch of multiple products, such as a 10g gold monthly contract, a few agri commodities, a mini metals contract, etc. Additionally, the cotton candy contract is scheduled for launch in the upcoming season in October’24. MCX has eectively addressed a significant concern by successfully launching the CDP platform. MCX is now at a pivot point where it is gaining massive traction in options contracts, rapidly expanding product oering, regulatory tailwind, and margin expansion expected from the CDP platform. We have revised our estimates and maintained our rating at Sell with a target price of ₹3,435 (40x FY25E EPS) because the positives have largely been factored in. businessline is not responsible for the recommendations sourced from third party brokerages. Reports may be sent to: