BSE Ltd shares saw a nearly 5 per cent increase in Tuesday’s intraday trading, bouncing back from a six-session losing streak that had previously wiped out 27 per cent of the stock’s value. The shares were trading at ₹4,445.55, up 1.98 per cent close to closing.
This recovery comes after significant losses were triggered by a Mumbai court’s directive to file an FIR against former SEBI chairperson Madhabi Puri Buch and two BSE officials for alleged listing irregularities involving Cals Refineries Ltd in 1994.
BSE has refuted these allegations as “frivolous and vexatious,” highlighting that the named officials were not in their positions at the time of the alleged incidents. The exchange has taken legal action, underscoring its commitment to regulatory compliance.
SEBI has stood by its decision, pointing out the applicant’s track record of filing frivolous lawsuits that have been previously dismissed with penalties. The regulator intends to challenge the court order.
Despite recent fluctuations, BSE continues to be a strong performer, delivering impressive returns of 101 per cent over the past year and 3,261.99 per cent over the past five years. However, the stock has corrected by 25 per cent from its peak of ₹6,133.40 on January 20, 2025.
Investor sentiment remains uncertain due to ongoing legal challenges and potential regulatory changes to proprietary trading norms proposed by SEBI.
