BSE share price hits record high, logging 150% YTD returns. Do you own? | Stock Market News

BSE share price jumped nearly 4% to hit a record high on Monday, extending rally for the fourth straight session, amid strong buying momentum. BSE shares spiked 3.91% to hit a high of ₹5,607.95 apiece on the NSE.

BSE stock price has jumped over 21% in one week and has risen 19% so far in the past one month. The stock has jumped 96% in three months and has given multibagger returns of more than 150% year-to-date (YTD).

BSE shares have recently been included in the futures and options (F&O) segment on the NSE with effect from November 29.

The recent gains in BSE shares also comes with heightened volumes in the counter. On December 6, around 63 lakh equity shares of BSE changed hands as against its one week average of 45 lakh shares. On Monday, BSE share volumes were 24 lakh on NSE.

BSE Financials

For the quarter ended September 2024, BSE reported a strong performance as its net profit jumped 192% YoY and 31% QoQ to ₹346.75 crore, driven by strong revenue growth and better-than-expected operational efficiency. For H1FY25, the exchange’s net profit surged 177% YoY.

Operating revenue in Q2FY25 grew 137% YoY, driven by 284% YoY growth in transaction charges and 38% growth in services to corporates and strong volume growth across segments.

According to brokerage firm Motilal Oswal Financial Services (MOFSL), the relaunch of BSE derivatives products has proved to be a trend-changing measure for BSE’s revenue and profitability.

“Increased member participation, new product launches (stock derivatives), rising awareness about products, and a recent launch of stock derivatives should continue to drive market share gains for BSE. Factoring in strong growth in transaction income and better-than-expected operational efficiency, we raise our earnings estimates by 6%/9%10% for FY25/FY26/FY27,” MOFSL said.

However, the brokerage firm expects a decline in option volumes in the short-term after the implementation of new regulations, the quantum of the impact and the pace of recovery remain uncertain.

BSE Stock Technical Outlook

BSE share price trend remains positive since the stock gave an upside breakout at ₹5,000 level.

According to Ruchit Jain, Vice President, Equity Technical Research, Wealth Management, Motilal Oswal Financial Services Ltd., the uptrend in the BSE shares is supported by rising volumes and outlook for the stock remains positive.

“BSE shares are in a strong upward trend, supported by rising volumes, after the recent breakout of ₹5,000 level. We expect the continuation of this uptrend and advise ‘buy on dips’ approach on BSE stock. The long positions can continue and fresh entry in the stock can be made on dips,” said Jain.

Jain has a BSE share price target of ₹5,670 – 5,800 level, while advising stop loss at ₹5,000 – 5,100 levels.

At 11:20 AM, BSE shares were trading 2.82% higher at ₹5,548.80 apiece on the BSE.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.