BSE Limited shares surged over 6% on Wednesday to ₹2,806 after the exchange reported strong Q2FY26 results. | Photo Credit: DHIRAJ SINGH
The exchange operator reported a 61 per cent year-on-year increase in net profit to ₹560 crore for Q2FY26, surpassing analyst estimates. Revenue from operations grew 44 per cent to ₹1,070 crore, driven primarily by an 81 per cent surge in equity derivatives transaction charges to ₹6,200 crore. This marked BSE’s tenth consecutive quarter of record revenue.
Centrum Broking upgraded its target price to ₹2,701 from ₹2,475, maintaining a “Buy” rating and valuing the stock at 41 times September 2027 estimated earnings. The brokerage raised its profit estimates by 8-13 per cent for FY26-28, now projecting net profit to grow at a 31 per cent compound annual growth rate to ₹29 billion by FY28.
Motilal Oswal also revised its earnings estimates upward by 14-15 per cent across FY26-28, citing higher derivative volumes and stronger-than-expected co-location revenue, which jumped to ₹46 crore from ₹27 crore in the previous quarter. However, it maintained a “Neutral” rating with a target price of ₹2,800.
The BSE StAR MF platform processed a record 20.1 crore transactions during the quarter, up 24 per cent year-on-year, maintaining its 89 per cent market share.
Published on November 12, 2025
