BSE shares surge 5% after NSE reapplies for IPO NOC with Sebi
Stock Exchange (BSE) surged 5% to a high of Rs 2,834.80 after the National Stock Exchange of India (NSE) on Tuesday restarted the process of its long pending public offering.
NSE has applied for a no-objection with the market regulator Securities and Exchange Board of India (Sebi), a Reuters report said citing sources.
«The exchange has reapplied for a 'no-objection' with India's markets regulator for initial public offer,» the report said, quoting sources who declined to be named.
Earlier, this month, India's largest stock exchange had reported that its June quarter consolidated profit jumped 39% year-on-year (YOY) to Rs 2,567 crore. Revenue from operations shot up 51% YoY to Rs 4,510 crore.
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During the quarter, the bourse (NSE) made provision for additional contribution of Rs 587 crore to augment the Core Settlement Guarantee Fund corpus from current level to Rs 10,500 crore as advised by Sebi.
In Q1, the NSE had earned Rs 3,623 crore in transaction charges, which was up by 44% YoY.
BSE on the other hand had reported a drastic year-on-year (YoY) jump of 181% in its revenue for the first quarter ended June 2024. The net profit for the quarter, however, fell to Rs 265 crore which is down 40% YoY compared with Rs 443 crore reported in the year-ago period.
In the last one year, the shares of BSE have given multibagger returns of 207% while in the last 3 months, the stock has surged by 3%.
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