Market volatility impacting investment book MTM
Unrealized MTM losses of ~₹1,000 crore at Q4 end, though mostly recouped in April; prolonged downturn could affect reported PAT.
MOTILALOSWALFINANCIAL / bear-case history
Track the concerns that keep returning.
Motilal Oswal Financial · risk themes across the available quarters.
Research layer active
Bear-case history
Risks carried through the record.
medium
SIP market share decline due to fund closures
International funds and micro-cap fund are closed for new SIPs, causing a slight dip in SIP market share; recovery depends on fund performance.
Competition from digital brokers and fintech platforms
Digital brokers gaining share in cash/FNO and mutual fund distribution; management acknowledges need to adapt strategy for larger traders.
Revenue yield compression from mix shift
Fastest growth in passives (lower yields) and alternates (higher yields) growing slower; mix effect could pressure overall fee margins.