New Delhi, May 1 -- Motilal Oswal is undergoing a structural shift towards distribution-led growth, necessitated by increased regulatory controls on futures and options (F&O) trading, which have weighed on broking revenues. The shift is timely, given the cyclical nature of broking and evolving regulations. With recurring, annuity-like revenue streams and increasing traction, the distribution business is well-positioned to lead the next phase of growth.

That said, the wealth and asset management segments - with huge growth runways - also continue to perform well and support the overall business. But what's really driving this shift, and what opportunity could shape the next phase of growth?

We unpack these details in this piece.

Broking...