BSE share price jumps 8% after Investec upgrades stock to ‘Buy’, sees 38% upside potential
BSE shares spiked as much as 7.95% to a high of ₹2,194.95 apiece on the NSE. Investec upgraded its rating for BSE shares to “Buy" and assigned a target price of ₹2,800 per share, implying an upside potential of nearly 38% from Wednesday’s closing price, CNBC-TV18 reported. The stock exchange BSE continues to witness strong traction in equity derivatives volumes and its options market share has jumped 3x on a quarter-on-quarter (QoQ) basis from 4.2% to over 15% in March, Investec noted while anticipating further market share gains given the rapid scale-up of the BANKEX product.
Also Read: Nifty 50, Sensex jump 1% each; why is Indian stock market gaining today? — explained with 5 critical reasons BSE has managed to reduce clearing charges paid to NSE by 30% QoQ on per ₹10 lakh basis, said the brokerage. It expects an improved margin profile in Q4FY24 as the metrics stabilise, the report said. BSE’s net profit in the quarter ended December 2024 doubled to ₹108.2 crore from ₹51.6 crore in the year-ago period.
The bourse reported its highest quarterly revenue ever at ₹431.5 crore in Q3FY24, registering a rise of 76% from ₹245 crore, YoY. Also Read: IRB Infrastructure Developers share price jumps nearly 10% after Kotak upgrades rating to ‘Add’, ups target price BSE shares have fallen over 1% in 2024 so far, but the stock has given multibagger returns of more than 401% in the past one year. BSE share price has jumped by a staggering 1,055% in three years.
At 11:35 am, BSE shares were trading 7.17% higher at ₹2,178.85 apiece on the National Stock Exchange. Catch Stock Market Live Updates here Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise
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