BSE shares jump 6%, hit all-time high after posting strong Q3 results

The buying on the counter came after BSE released its Q3FY26 numbers on Monday, after market hours

BSE share price jumped 6.3 per cent, registering a lifehigh at ₹3,175 on the National Stock Exchange (NSE). At 9:34 AM, BSE shares were trading 5.83 per cent higher at ₹3,159 per share. In comparison, the NSE Nifty50 was up 0.28 per cent at 25,940.35.  

The buying on the counter came after the company released its Q3FY26 numbers on Monday, after market hours.  

In the December quarter, BSE clocked a consolidated net profit of ₹602 crore, recording a 2.74x jump over ₹220 crore reported a year ago in the corresponding quarter. On a sequential basis, profits were up 8 per cent. 

The exchange’s revenue from operations also soared by 62 per cent to ₹1,244 crore year-on-year. Check detailed results here

Brokerages view on BSE Stock

Centrum Broking | Buy | Target raised to ₹3,331 from ₹2,701

Centrum said BSE delivered a strong quarterly performance, driven by continued market-share gains and robust volume growth in equity index options, which remained the key engine of revenue momentum.  

The brokerage expects the recent STT hike to have a limited impact on options activity, and highlighted that BSE’s diversified revenue mix continues to support growth, with healthy traction in non-transactional income as well. 

Centrum also pointed to strong momentum in subsidiaries: ICCL improved its clearing capacity, while BSE Index Services expanded its already broad index suite through new launches. 

On the settlement guarantee fund (SGF), Centrum noted that its contribution to transaction income declined to around 3 per cent in Q3 as balances crossed the 150 per cent threshold. SGF contribution stood at ₹45.6 crore, while the total SGF balance was ₹1,200 crore as of January 2026. Going forward, contributions are expected to be dynamic and volatility-led. 

Factoring in the Q3 performance, Centrum has raised profit after tax (PAT) and core PAT estimates by 11–13 per cent for FY26E–FY28E, and now expects net profit and core PAT compound annual growth rate (CAGR) of 35 per cent and 39 per cent over FY25–FY28E, reaching about ₹3,300 crore and ₹3,000 crore, respectively. 

Motilal Oswal Financial Services | Neutral | Target raised to ₹3,350 from ₹2,950

Motilal Oswal said BSE is seeing broad-based growth across key businesses, aided by steady retail participation, a healthy initial public offering (IPO) pipeline, and structural expansion in STAR MF and its index franchises. The brokerage added that BSE’s continued investments in technology, data infrastructure, and product diversification should strengthen its competitive position and improve long-term earnings visibility. 

Motilal has raised its earnings estimates by 5 per cent/15 per cent/13 per cent for FY26/FY27/FY28, respectively, factoring in higher derivatives options volume assumptions based on the January 2026 run-rate. This was partly offset by expectations of lower co-location revenues and a higher expense growth trajectory. 

The brokerage has reiterated its ‘Neutral’ rating on the stock and set a target price of ₹3,350, based on 38x FY28E EPS.

HDFC Securities | Add | Target raised to ₹3,310 from ₹3,000

HDFC Securities said BSE delivered a strong Q3FY26. The brokerage flagged improving product mix, with the share of longer-dated options rising to 5 per cent, and management aiming to increase this further via higher institutional participation. 

On the back of better volumes, the brokerage raised earnings per share (EPS) estimates by 8–10 per cent and now expects FY25–28E revenue/EPS CAGRs of 30 per cent/36 per cent. It maintained an ‘Add’ rating and revised the target price, valuing the stock at 42x core FY28E PAT, plus the value of the CDSL stake and net cash (excluding SGF). 

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