Politics · India Bureau
BSE shares surge on ICICI Securities upgrade to 'Add' rating
Shares of BSE Ltd gained over 2% following an upgrade from ICICI Securities, which cited strong operational performance and raised its target price on the exchange operator.
LSN India ·
BSE shares climbed more than 2% in trading after ICICI Securities upgraded its recommendation on the country's premier bourse to 'Add' from its previous stance, signaling growing confidence in the exchange operator's financial trajectory.
The upgrade reflects a marked turnaround in BSE's operating performance, with ICICI Securities highlighting a substantial jump in quarterly earnings before interest, taxes, depreciation and amortization (EBITDA). Excluding contributions to the Settlement Guarantee Fund, BSE's EBITDA expanded to Rs 10.9 billion in the second quarter of fiscal 2027, representing a significant increase from Rs 1.9 billion in the corresponding prior-year period.
The brokerage also raised its price target on the equity, reflecting improved visibility on the exchange's revenue streams and operational efficiency. The stronger operational metrics underscore BSE's expanding role in India's financial markets and its ability to generate higher returns from core business segments.
BSE Ltd operates India's oldest stock exchange and plays a crucial role in the country's capital markets infrastructure. The upgrade comes as investors assess the performance of major financial services companies amid evolving market dynamics and regulatory developments in the Indian financial sector.