Motilal Oswal Group co-founder Motilal Oswal 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 drop in Cannes Technology shares on Tuesday, soon after Motilal Oswal ended the lock-in period, to about Rs. 489 crore worth 8.17 lakh shares were sold.

Garg also pointed out the “irony” that just two weeks ago the brokerage had priced the stock at Rs. Issued a ‘Buy’ rating with a target of 8,200. Oswal dismissed such claims as “false, nonsense and completely unjustified” and insisted that the group maintains strict procedures, independent research and no personal transactions in proprietary accounts.

Garg tweeted on Wednesday, November 19. “Sudden fall in Cannes tech yesterday as Motilal Oswal sold 8.17 lakh shares (~489 crore) at ~6,000 each soon after the lock-in period ended. Ironic? Just two weeks ago, the same Motilal Oswal issued a report with a “Motilal” target of ₹8200 on Cannes,” the tweet said.

Keynes shares fell 5% on the NSE on November 18 to Rs. 5,890 which on Monday was Rs. 6,200 was

“Through misuse of social media handles, baseless rumors are being spread about Motilal Oswal Group’s research and fund management. I want to state clearly that these allegations are nonsense, false and totally unwarranted. Ill-informed people are only creating false information about us, many so-called experts don’t even know how any individual transactions work in the markets. Accounts,” Oswal’s tweet said.

“Over the past four decades, our group has built its reputation on the highest standards of trust, ethics and integrity. Our fund management business has also operated for over twenty years with a transparent and disciplined process that always puts investors’ interests first,” the tweet added.

Oswal also highlighted that the group’s institutional equity research division (sell-side) and its AMC investment teams (buy-side) operate independently.

“Our institutional equity research (sell-side) and AMC investment entity/team (buy-side) work independently. The sell-side globally acclaimed research analyzes more than 300 companies, more than any other research house in India. It provides unbiased market insights. People should know that equity research and investors are not all about short-term investments and purchases for short-term management. It has its own portfolio decisions. Adheres to investment philosophy, fund mandate and risk framework.

Oswal said the group is “committed to honesty, transparency and trust that over 16 million investors have placed on us for 40 years. Please do not spread such rumours, DM me for any clarification if you wish. We reserve the right to initiate legal action against such people who are spreading false information,” he warned.

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