Jefferies has maintained a ‘Hold’ rating on BSE with a target price of ₹5,250. The brokerage’s view comes after SEBI proposed that exchanges stick with current F&O expiry days—Thursday for NSE and Tuesday for BSE.
This regulatory development has eased concerns around a potential market share loss for BSE, which some feared would result in a ~12% EPS impact. While BSE’s stock has largely recovered from its recent correction, Jefferies believes further re-rating is possible if regulatory risks continue to subside and market activity improves.
Jefferies also noted that while open interest (OI) limits are still under discussion, the impact on BSE is expected to be less severe compared to competitors.
