BSE share price has plunged 3% inytra-day after the company reported its Q4 earnings. The fall in the stock price is being seen despite the Exchange recording a robust daily turnover, a jump in net profit, etc. Many analysts believe that the market had probably priced in the positives, and the stock is probably seeing some profit booking.
Nuvama on BSE
Nuvama Institutional Equities raised its target price on the exchange to Rs 4,570 from Rs 3,760, implying an upside of 15.3% from the current market price. BSE delivered Q4FY26 index options Average Daily Premium Traded Volume (ADPTV) market share of 29.9%, an increase of 57 basis points QoQ, driving up revenue by 85% YoY and 26% QoQ.
With five expiries in April 2026, as against four for NSE, and sustained ADPTV of Rs 33,100 crore, its market share surged 922 bps month-on-month to 37%.
“We are tweaking ADPTV estimates, incorporating early STT hike impact, lifting our FY27 and FY28 adjusted net profit by 12.3% and 15.9%, i.e. PE of 45x plus 15% stake in CDSL. Post NSE listing, there shall be further upgrades in earnings,” said the brokerage house.
BSE reports robust Q4FY26
The company’s net profit surged 32.5% year-over-year (YoY) to Rs 797 crore in the fourth quarter of FY26, compared to Rs 602 crore in the same quarter a year back. Its revenue from operations rose 26% YoY at Rs 1,564 crore in Q4FY26, from Rs 1,244 crore recorded in the December quarter.
The earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 44% YoY to Rs 1,061 crore in the Q4FY26 from Rs 738 crore quarter-on-quarter (QoQ), while the margin was posted at 67.9% from 59.3% QoQ.
The exchange reported a strong operational quarter, with average daily premium turnover (ADPTO) jumping 49% sequentially to Rs 28,920 crore.
BSE Q4 Operations strong
Transaction revenue more than doubled year-on-year, with nearly the entire incremental growth coming from higher transaction charges amid strong traction in derivatives trading. Transaction charges rose 38% QoQ to Rs 1,311 crore, aided by increasing derivatives volumes. Adjusted EBITDA increased 32% quarter-on-quarter, while EBITDA margins expanded sharply to 68%, aided by operating leverage. Net profit after tax also rose 32.5% sequentially.
Also, the company has announced to pay out a final dividend of Rs 10 per share of face value of Rs 2 each.
BSE share price performance
The share price of BSE has risen 1.7% in the last five trading days. The stock has changed a little over the past one month and has fallen 6.8% in the last six months. BSE’s stock price has declined 3% in the previous one year.
