BSE surges 6.5% mid-morning; analysts divided after strong H1 print
The stock has gained 45.93 per cent year-to-date and 53.61 per cent over the past year. Its 52-week range stands between ₹2,377.40 and ₹4,446.80, with the total market capitalisation at ₹1,56,607 crore.
BSE Limited's shares surged over 6.5 percent in the morning trading session on Thursday, reacting to the exchange operator's robust first-half results. The stock reached a price of ₹3,836.80, up ₹235.30 or 6.53 percent from the previous close of ₹3,601.50. Trading volume reached 65.37 lakh shares, with a traded value of ₹2,455 crore by mid-morning. Over the past year, the stock has gained 45.93 percent and 53.61 percent, with a 52-week range between ₹2,377.40 and ₹4,446.80 and a market capitalization of ₹1,56,607 crore.
Analysts' reactions to the results were mixed. UBS upgraded BSE to an Outperform rating with a target price of ₹4,050, noting strong Q2 performance, lower regulatory and operating expenses, and accelerating normal-rate revenue growth. JPMorgan kept an Overweight rating with a target of ₹3,960, highlighting a 34.1 percent year-on-year revenue increase to ₹14.33 billion and a 43 percent year-on-year EBITDA rise to ₹9.73 billion, pushing margins to 67.9 percent.
Bernstein, however, maintained an Underperform rating, raising its target to ₹3,180, and warned that concerns remain about the sustainability of BSE's high-growth trajectory as market-share gains approach their peak.
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