Motilal Oswal, co-founder of the Motilal Oswal Group, on Thursday issued a strong public rebuttal to social media allegations questioning the firm’s research integrity and fund management practices. Oswal was responding to an X post by user Ashish Garg (@Ashishkafunda), who claimed that the sudden fall in Kaynes Technology shares on Tuesday was triggered by Motilal Oswal selling 8.17 lakh shares worth around Rs 489 crore at Rs 6,000 each, immediately after the lock-in period ended.
Garg also pointed out the “irony” that the brokerage had issued a ‘Buy’ rating with an Rs 8,200 target on the stock just two weeks earlier. Oswal dismissed such claims as “false, rubbish and completely unjustified,” asserting that the group maintains strict processes, independent research, and no personal transactions in proprietary accounts.
Through misuse of social media handles, baseless rumours are being spread about research and fund management of the Motilal Oswal Group. I want to state unequivocally that these allegations are rubbish, false and completely unjustified. The ill-informed people are just creating…
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