Motilal Oswal Financial Services (MOFSL) witnessed a significant surge of over 7% in its shares following the announcement of a bonus issue proposal by the brokerage firm’s board. The proposal, set to be discussed during the April 26 board meeting along with the March 2024 quarter results, reflects positive market sentiment regarding the company’s performance. With the stock closing at Rs 2,236, up 7.4%, MOFSL’s market valuation reached Rs 33,315 crore. Analysts attribute the bonus issue consideration to encouraging financial performance, with recent reports from broking firms Angel One and ICICI Securities also indicating strong numbers in trading activity and client acquisitions.