Shares of BSE Ltd. fell 3.58% to ₹4,582 in early trade today after Jefferies downgraded the stock to ‘Underperform,’ citing concerns over elevated valuations and potential over-optimistic market expectations. The stock declined by ₹170.25 from its previous close as of 9:17 AM.
Jefferies expressed concerns that BSE’s current valuation may not fully reflect the risks of overall market volume impacts and minimal spillover gains from recent market developments. The downgrade follows a significant rally in BSE shares, driven by expectations of market share gains post-regulatory changes.
Investors will be watching closely for any further commentary or analysis on BSE’s future performance.
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