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Investing.com - Jefferies has reduced its price target on BSE Limited (BSE:IN) to INR2,790.00 from INR2,900.00 while maintaining a Hold rating on the stock.
The adjustment follows BSE’s first-quarter fiscal year 2026 results, which showed profit of Rs5.3 billion, doubling year-over-year and increasing 28% quarter-over-quarter excluding Segment General Fund (SGF). This performance aligned with Jefferies’ expectations, driven by lower net clearing costs and higher other income.
BSE’s revenue grew 58% during the quarter, slightly missing estimates due to lower cash and corporate revenues. Management provided clarification on several operational matters, noting there had been no discussions yet regarding fortnightly or monthly expiry, and that any shift in expiry day would have limited impact.
The research firm trimmed its earnings per share estimates for BSE by 5-6% to account for lower options trading activity in the market. Management also indicated that the impact from JS was negligible, while common contract notes are expected to aid fiscal year 2027 revenues.
BSE Limited, formerly known as Bombay Stock Exchange Ltd, operates the BSE exchange platform which facilitates trading in equities, currencies, debt instruments, derivatives, and mutual funds.
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