BSE shares extend fall, tank 27% in 6 days; hit over 3-month low today

BSE share price: BSE share fell 6 per cent in Monday's intraday trade, extending its two-day fall to 15 per cent

BSE share price continued to trade under pressure, hitting an over three-month low of Rs 4,371 on the National Stock Exchange (NSE) today. BSE share fell 6 per cent in Monday's intraday trade, extending its two-day fall to 15 per cent.

 

BSE shares were quoting lower for a sixth straight day, plunging 27 per cent during the period. The stock is trading at its lowest level since November 27, 2024. Further, it has corrected 29 per cent from its peak level of Rs 6,133.40, which it touched on January 20, 2025.

 

BSE, in an exchange filing on March 2, 2025, said that the Anti-Corruption Bureau (ACB), Mumbai, has allowed a miscellaneous application filed before them against certain Securities Exchange Board of India (Sebi) officials and ex-chairman of BSE and the current MD & CEO. The application had sought directions for registration of a FIR and investigations into alleged irregularities in the listing of a company in 1994.

 

 

The named company, Cals Refineries Ltd., was listed at BSE in 1994. The officials named in the application were not in their respective positions at the time of listing and were not connected with the company at all. The application is frivolous and vexatious in nature. The Court has allowed the application without issuing any notice or granting any opportunity to BSE to place the facts on record, BSE said in a press release. 

Read: Madhabi Buch, 3 Sebi directors move Bombay HC to quash FIR in fraud case

 

BSE further said, the company is initiating necessary and appropriate legal steps in this regard. As a responsible market institution, BSE remains committed to upholding regulatory compliance and ensuring transparency.

 

Meanwhile, despite the recent correction in BSE share price, the stock price of the company has appreciated 91 per cent in the past one year, as compared to 1 per cent decline in the Nifty 50. In the past five years, it has zoomed 3,107 per cent as against a 101-per cent surge in the benchmark index. BSE made its stock market debut on February 3, 2017.

 

BSE's performance is dependent upon the volume and value of trades executed on its trading platform, the number of new/ further listings and the amount of capital raised through such issues, the number of active traders in the market, etc.

 

While the company's efforts can influence these activity levels, many factors that can have an impact on these factors are beyond the control of the company. Adverse macro-economic developments and political uncertainty may dampen the sentiments of the capital markets and negatively affect the business, according to BSE.

 

Thus far in the calendar 2025, BSE Sensex and Nifty 50 have corrected 7 per cent, while the BSE Midcap and Smallcap indices have tanked 18 per cent and 24 per cent, respectively.

 

According to Emkay Global Financial Services, equity markets will remain volatile through Q1CY25, and sharp sell-offs (like the current one) could keep recurring. The brokerage firm expects markets to stabilise from the next quarter (Q1FY26) for three reasons: 1) worries around Trump tariffs will recede, as tariffs are likely to be less destructive than expected; 2) earnings downgrades will be largely done and expect the Nifty FY26 EPSg at ~12-13 per cent; and 3) signs of a recovery in discretionary consumption demand should start becoming visible.

 

HDFC Securities, meanwhile, has reduced the estimates of notional turnover for BSE by ~40 per cent for FY26E and has increased the premium realisation estimate by around 70 per cent, leading to a 2 per cent increase in revenue from options estimates. The Ebitda margin is expected to expand from 53 per cent to 63 per cent in FY26E. The brokerage firm has increased estimates for revenue by 2-3 per cent and EPS by ~18 per cent for FY26E.

 

However, according to Motilal Oswal Financial Services, BSE's regulatory costs paid to Sebi and clearing and settlement costs paid to NSE are linked to notional turnover or number of contracts traded.

 

Resultantly, the continuous decline in the option segment’s notional turnover after the implementation of F&O regulations in November 2024 and the increase in lot sizes will bode well for BSE’s margins and profitability, the brokerage firm said in report.