BSE Shares Surge to Record High: From ₹458 to ₹3,137 in a Year

Shares of the Bombay Stock Exchange (BSE) Ltd. have reached new heights, trading at a record high of ₹3,137 today, marking a remarkable journey from ₹458 a year ago. The stock surged by 10% in today’s session, continuing its upward trajectory for the second consecutive day.

BSE shares have witnessed a notable 35% increase in the last month alone, with a significant 24.4% rise in April following gains in the preceding months. Notably, the stock has experienced a phenomenal growth rate of nearly 7 times over the past 12 months, rebounding from its 52-week low.

Recently, Investec upgraded BSE to a «buy» rating and set a price target of ₹2,800, citing expectations of improved margins in the March quarter and potential market share gains driven by the success of its BANKEX product. The stock has surpassed Investec’s price target post the latest surge.

Analysts are bullish on BSE, with six out of eight maintaining a «buy» recommendation, while the remaining two suggest holding the stock. The market consensus indicates a slight downside potential based on the 12-month Bloomberg price target, despite the stock trading above analysts’ forecasts.

Gautam Baid from Complete Circle Stellar Wealth PMS highlighted BSE’s strong earnings potential, driven by operating leverage, leading to a premium valuation. However, he cautioned about regulatory risks and potential market slowdowns affecting BSE’s business performance.

Currently, BSE shares are trading at ₹3,135.95, reflecting the market’s positive sentiment towards the stock.