By Mohit Bhambhani
The surge in the stock price of BSE in the last year has been breath taking. One look at the chart and you know this was something special.
But then this is history. What lies ahead for BSE?
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Well, if you believe a leading research house, BSE may be set for another 25% rally.
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But let’s not get ahead of ourselves. Instead, let’s start with understanding what the BSE’s business is all about.
BSE’s Business
BSE’s businesses include the following:
- Trading and Clearing – catering to trading of Equity, Debt, Derivatives, SMEs and Startups, Spot Markets, and Interest Rate futures.
- Distribution – Mutual funds, Book-building services for IPOs, New bond platform, Offer to buy/sell, and Insurance.
- Services to Corporates – Equity listing, Listing of Debt Securities and Commercial Papers, Mutual funds listing
- Other services include Data feed, Index services, Software services, and Training services.
As per the BSE’s Investor’s Presentation for H1 FY25 in November 2024, BSE has over 192 million registered investors, 1,234 registered members, and 78,382 Mutual Fund Distributors, covering 721 cities across India.
Even though the BSE has lost the race to the NSE long ago, its numbers are still vast. Where it gets interesting is that in some areas, the BSE is actually starting to regain some share.
During the Q2 FY25 conference call, Mr. Sundararaman Ramamurthy, MD and CEO of BSE said BSE has recorded its best ever half year revenue and profit, recording highest ever quarterly consolidated revenues of Rs. 819 crores, a 123% growth over the revenues in corresponding quarter last year. The growth was driven by strong performance in transaction-related income, investment-related income, and treasury income from clearing and settlement services.
He added that BSE platform continues to remain the preferred choice of Indian companies by enabling issuers to raise Rs.
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