Macquarie initiates coverage on NSE with ‘Outperform’, sets ₹1,965 target price
The brokerage views NSE as “The Dominator”, citing its leading market share and power
Macquarie has started covering NSE, giving it an "Outperform" rating and setting a target price of ₹1,965. The broker sees NSE as the dominant player in India's financialization, highlighting its extensive services, technology, and liquidity. Macquarie also believes the exchange's platform expansion will boost revenues, although it anticipates near-term pressure from the Closing Auction Session.
The firm views BSE as a strong competitor, pointing to its pivot towards index options and potential for share gains in cash equities and futures and options. Despite potential short-term challenges from the CAS, Macquarie remains optimistic about the long-term outlook for both exchanges, noting room for further re-rating.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
