 "Goldman Sachs initiates coverage with 'Neutral' on BSE; share price up 2%")
Goldman Sachs on BSE: Stock exchange BSE share price was buzzing in trade on Monday, January 13, 2025, as the scrip rose as much as 2.36 per cent to hit an intraday high of Rs 5,243 apiece on NSE.
The uptick in the BSE share price came after New York, US-based brokerage Goldman Sachs initiated coverage with ‘Neutral’ rating for a target price of Rs 5,060. The target price, however, reflects a downside of 1.21 per cent from the previous day’s (January 10) close of Rs 5,121.65.
According to reports, Goldman Sachs believes that BSE is set to benefit from robust growth momentum in India's capital markets. Additionally, the impressive nominal growth in corporate earnings of Indian listed companies serves as a major driver of compounding returns.
Although valuations are near historical highs, Goldman Sachs considers BSE to be fairly valued in comparison to global counterparts, offering a well-balanced risk-reward profile, the report said.
BSE financial performance
BSE's profit soared three-fold to Rs 346 crore in the September quarter of the 2025 financial year (Q2FY25), as compared to Rs 118 crore in the same period last year (Q2FY24).
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The exchange's total revenue more than doubled to Rs 819 crore in Q2FY25, from Rs 367 crore in the corresponding quarter of the previous year.
Furthermore, BSE achieved its best-ever half-year revenue and profit, totaling Rs 1,493 crore and Rs 610 crore, respectively, said exchange's MD & CEO, Sundararaman Ramamurthy.
The average daily turnover in the equity cash segment for Q2FY25 increased to Rs 9,768 crore, compared to Rs 5,922 crore in the same quarter last year. Similarly, the average daily premium turnover in the equity derivatives segment surged to Rs 8,203 crore in Q2FY25, up from Rs 768 crore in the previous year.
BSE StAR MF also posted a whopping 100 per cent year-on-year growth in revenues, reaching Rs 58.7 crore. The total number of transactions processed by BSE StAR MF grew 68 per cent, rising to 16.28 crore in Q2FY25, from 9.67 crore in the same period last year.
BSE share price history
BSE share price has risen a little over 1 per cent in the last five trading sessions. However, BSE share price has tanked around 7 per cent in the past one month. Notably, in the last one year, BSE share price has more than doubled investors' wealth, surging 133 per cent.
About BSE
Set up in 1875, BSE is the oldest stock exchange in Asia. It plays a key role in facilitating primary market activities, such as initial public offerings (IPOs) for capital raising, as well as secondary market trading of various securities. Operating within the framework set by Sebi, BSE upholds fair trading practices, ensures listing compliance, and prioritises investor protection.
The total market capitalisation of BSE is Rs 70,749.72 crore, according to National Stock Exchange (NSE).
The 52-week high of BSE is Rs 5,837.95, while its 52-week low is Rs 1,941.05 apiece.
At 10:50 AM, BSE share price was trading 2.09 per cent higher at Rs 5,228.45 apiece. In comparison, Nifty50 was trading 0.53 per cent lower at 23,308.35 levels.