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Broking & Distribution

The Broking and Distribution business of Motilal Oswal Securities Ltd (MOSL) helps retail customers across the length and breadth of the country to take informed investment decisions with a strong research based advisory service. Our services include products such as Equities, Derivatives, Commodities, Depository Services, Portfolio Management Services and distribution of Mutual Funds, Primary Equity Offerings and Insurance products.

With Solid Research, Solid Advice as our guiding philosophy, our clients are advised by the centralized advisory and dealing desk based in Mumbai. Extensive use of technology and the benefit of synergized operations under one roof have helped us deliver enhanced value to our clients.

We are able to provide these services to customers using a combination of 3 distribution models

  1. Our unique Business Partner model provides a 'win-win-win' relationship for entrepreneurs, customers and the company. Using a combination of centralized advisory, efficient execution and strong back office processes, we are able to reach out to customers across the length and breadth of the country.
  2. We have a network of branches spread across major cities. They provide the company a local footprint in important markets and also opportunities to cross-sell products and services.
  3. In addition to our Pan-India presence, we have a strong online platform that can be accessed through a Desktop application, on Web, or through the Mobile, enabling customers to trade seamlessly and conveniently across various devices.
Business Highlights
  • Presence in over 2200 business locations across 550 + cities with more than 9,00,000 retail clients.
  • Depository assets at over   44,963 Crores.
  • Over 700 training and investor education seminars conducted in FY17 - 18.
  • Ajay Menon CEO - Broking & Distribution

    Mr. Ajay Menon is the MD & CEO of the broking and distribution businesses of Motilal Oswal Securities Limited (MOSL). He is also the Whole Time Director of MOSL.

    Ajay Menon is a member of the Institute of Chartered Accountants of India and has done his graduation from N.M. College of Commerce, Mumbai. He has also cleared the Series 7, 24 and 63 of FINRA Regulations.
    He possesses over 15 years of capital markets experience. He joined the Group in 1998 and was responsible for operations, compliance, legal, risk management, business process excellence and information technology. He has been the cornerstone of MOSL’s strong performance track record and a driving force behind the operational excellence at the Group which has enabled the businesses to deliver strong customer delight. He has also been instrumental in various change initiatives including driving a culture of systems and processes across all group businesses. He has also engineered the development of several state-of-the-art technology initiatives to provide businesses a cutting edge and also a unique value proposition within the spaces they operate. Besides, a strong focus on compliance and risk management has helped the group deliver superior business results even during volatile market conditions.

    He started his career with Sesa Seat Information Systems.

    He loves playing Cricket and Travelling.

  • Kishore Narne Associate Director, Head Commodity & Currency Business - Broking & Distribution

    Did Masters in Financial Management from Pondicherry University.

    He joined Motilal Oswal Group to lead the Commodities and Currency broking business in 2012. He has been able to establish the brand Motilal Oswal in the space as the market share in both the segments rose multifold over the last four years and currently leads a team of over 100.

    Mr. Kishore Narne possesses rich experience of over 15 years in Commodity and Currency markets. He started his career in commodities in 2001 with Refco Commodities (currently Phillip Commodities), servicing their global customer base and creating research for global audience well before the Indian commodity markets opened up.  As Indian markets opened up, he moved to Anand Rathi Commodities in 2004 to setup their commodities broking business and built it from scratch and served at various levels for nearly a decade.

    He is a voracious reader and writes regularly for many newspapers and financial magazines. He is also a regular on various business channels and has received various accolades from several industry bodies. He has been adjudged as ‘India’s Best Commodity Analyst’ Award by Zee Business and NCDEX in 2011 and has won the award of the ‘India’s Best Research Analyst for Forex’ in 2014 by Zee Business for Motilal Oswal.

    He is an avid reader and a traveler apart from being a photography enthusiast.

  • Mr. Harsh Joshi Associate Director and Head - IFA & Investment Product Business

    Harsh Joshi presently heads the IFA & Investment Product business at MOSL .

    He is a management graduate from the Institute of Technology & Management, Mumbai.

    He joined Motilal Oswal Securities in 2000 and has handled various profiles including Client Servicing, Client Acquisition and Franchisee Acquisition. Harsh has been responsible for developing the entire Franchisee and Branch Business of MOSL and also played a key role in developing the Wealth Management business of MOFSL. He has also handled the Chairman’s office for the Motilal Oswal Group.

    Before Motilal Oswal Securities he was associated with the Lexicon Group of Companies, where he was managing the stock broking business.

  • Gaurav Manihar Associate Director & Head, Franchisee Business - Broking & Distribution

    A CharteredAccountant by qualification, he has spent nearly 14 years at Motilal Oswal. Heis a veteran in the broking business and stock markets, having spent more than16 years in the industry. He has rich and varied experience in thenon-institutional broking segment. He also headed MOSL PCG Broking, handlingmore than 2,000 HNI families serviced by a highly qualified 75+ member advisoryand sales team. To his credit, he has also headed MOSL Equity Advisorycomprising 300+ equity advisors and led the advisory training function for MOSLand worked closely with franchisees for their business development.

    Before MOSL, he was associated with Sovereign SecuritiesLtd.

    He has been awarded Best Employee Award in MOFSL andSpecial Award for creating Advisory Talent in MOFSL.

    He loves Cricket, Travelling, Reading Books, Spendingtime with friends and Watching Movies

  • Navnit Bagri Associate Director & Head, PCG Business - Broking & Distribution

    He is a Chartered Accountant from Kolkata, India and a Certified Public Accountant from Colorado, USA.
    Navnit Bagri presently heads the Private Client business at MOSL . He joined Motilal Oswal Securities in 2004 and has since handled various profiles including Client Servicing, Branch and Franchisee Development.

    Before Motilal Oswal Securities he was managing his family stock broking business.

    He is an avid reader of finance, philosophy and behavioral science.

  • Girish Karthik Associate Director & Head (Branch Business Channel)

    He currently spearheads Retail Branch Business at MOSL.

    He is a management graduate from Madras University.  Girish has been associated with MOSL from last 12 years. He joined MOSL in 2004 and has handled diverse roles and responsibilities. He established brand MOSL in South India through branch and franchisee expansion. He was instrumental in the success of major retail business acquisition and mergers. He has handled all India franchisee acquisition and is an integral part of the key member’s team who developed branch and franchisee business across India.

    Before Motilal Oswal Securities he was associated with Apollo Sindhoori Capital Investment Ltd (Birla Money Limited) as a founder staff member and Regional Head (broking business) west region.