India's BSE rises after Investec's upgrade on market share gains

BSEL Algo

21/03/2024 06:56

** Shares of Indian exchange operator BSE  BSEL.NS  up 7.2%
at 2,179.1 rupees, best intra-day pct gain since Feb 1
    ** Investec upgraded stock to "buy" from "hold" on bets of
market share gains, strong derivative volumes
    ** Brokerage expects improved margin profile for co in Q4,
cites potential to achieve a 45-50% EPS CAGR (FY24-26) and
strong cash flow
    ** Investec keeps PT at 2,800 rupees
    ** BSEL rated "buy" with median PT at 2,762.50 rupees - LSEG
data
    ** Brokerage says recent 20% correction from a peak in Feb
is good time to buy BSEL
    ** Stock is down 2% YTD after surging four-fold in 2023

 (Reporting by Sethuraman NR)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))