BSE Stock Hits Rs 3,330 High; NSE IPO, Q4 Fuel Rerating
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- BSE shares hit a 52-week high of Rs 3,330 on April 10, extending a three-day rally, with YTD returns of 25% and trailing three-year returns of 2,078% versus 36% for the Nifty.
- BSE received Sebi approval to launch derivative contracts on the 'BSE Focused IT Index', its fifth index F&O contract alongside Sensex 50, Sensex Next 30 and BSE Focused Midcap Index products.
- Dr Ravi Singh of Master Capital Services attributed the rally to a shift from cash equities to derivatives—particularly Sensex and Bankex contracts—plus operating leverage that expands margins as volumes rise.
- BSE posted a 174% YoY jump in Q3FY26 consolidated net profit to Rs 602 crore and 62% revenue growth to Rs 1,244 crore, with 9M revenue climbing 55% YoY to Rs 3,270 crore.
- Analysts at Master Capital and Bonanza expect Q4 to be constructive on continued equity derivatives momentum, transaction charge growth, and StAR MF platform traction, with Sensex derivatives momentum and margin translation as the key watch items.
- NSE's anticipated IPO is viewed as a re-rating catalyst for the sector—per Bonanza analyst Abhinav Tiwari, NSE must list on BSE under exchange rules, a setup the firms say will drive higher volumes and institutional participation for BSE.
- BSE trades at 60x 1-year forward P/E versus a 3-year median of 69x; both analysts call it a 'buy on dips' candidate and warn that chasing the stock at current levels carries near-term risk from any earnings or regulatory disappointment.
Why it matters: BSE's 60x forward P/E versus a 3-year median of 69x leaves room above historical comfort; the NSE IPO requires NSE to list on BSE, which both Master Capital and Bonanza say will drive higher trading volumes and institutional participation for the venue.
Ask SkimNews
