BSE shares reached a 52-week high of ₹3,994 on the NSE on Friday, following the exchange’s strong March quarter earnings, which were primarily driven by a significant increase in derivatives revenue and heightened trading activity. The stock later settled at ₹3,952 at 9:43 AM as investors evaluated the sustainability of the earnings growth after the notable stock rally.
The stock exchange reported a consolidated net profit increase of 61% year-on-year for Q4FY26, totaling ₹795.47 crore, marking its strongest financial performance in 150 years. This robust earnings growth was attributed to increased derivatives trading volumes, alongside a consistent momentum in both institutional and retail participation.
Additionally, the exchange has seen advantages from the expansion of its mutual fund distribution platform, STAR MF, and growth in index-related businesses. Investments in technology and data infrastructure have also been directed at enhancing its competitive positioning.
Brokerage firm Motilal Oswal has expressed bullish sentiments regarding BSE’s performance, noting broad-based growth across key segments driven by improved institutional participation and steady retail activity. They also highlighted the structural expansion in STAR MF and index businesses. The firm indicated that ongoing investments in technology, data infrastructure, and product diversification are likely to bolster long-term earnings visibility.
Motilal Oswal has raised its earnings estimates for BSE by 17% for FY27E and 20% for FY28E, reflecting higher volume expectations based on the strong March-April FY26 performance. However, they did not include potential impacts from RBI regulations on proprietary trading in their analysis.
The brokerage maintained a neutral rating on the stock with a target price of ₹4,400, which values the company at 40 times the estimated earnings per share for FY28.
Published on May 8, 2026.
