The share price of Bombay Stock Exchange (BSE) Limited, as of May 23, 2025, is around ₹2,354 on the NSE, reflecting a significant decline of 66.3% from the previous close of ₹6,996.50, mainly due to the 2:1 bonus issue effective from today, which increased the number of shares and further adjusted the price. The market capitalization is around ₹99,982.21 crore. The stock has shown strong performance with a 5-year return of 4,977.31% and a 3-year return of 933.69%.
Long-Term Trend Analysis
Historical Performance: BSE Limited has displayed a strong and bullish trend, trading above its 150-day and 250-day moving averages. In the last one year, the stock has given a return of 163.44%, and in five years, it has gained over 5,013%.
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Financials: For FY25, BSE reported record revenues of ₹3,236 crore (up 116% YoY) and a net profit of ₹1,326 crore (up 227% YoY). The company maintains zero debt and a return on equity (ROE) of 29.97% for FY25, indicating strong fundamentals
Recent Developments: The 2:1 bonus issue (effective May 23, 2025) increased the share count, causing the price adjustment. This does not affect the overall market cap but may improve liquidity. Additionally, BSE’s focus on derivatives, new financial instruments, and technological advancements (e.g., AI and blockchain) supports its long-term growth potential
Analyst Forecasts: Analysts are optimistic, with price targets for 2026 ranging from ₹5,340 to ₹7,900 (pre-bonus adjustment). Post-bonus, these targets would adjust proportionally (approximately ₹1,780 to ₹2,633). Long-term projections suggest a share price of ₹9,500–₹14,150 by 2029 and ₹11,600–₹16,200 by 2030, driven by India’s growing economy and BSE’s market positio
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Technical Indicators: The stock is in a long-term uptrend, with support levels around ₹2,000–₹2,100 and resistance at ₹2,529.31 (52-week high, post-bonus adjusted). Technical analysis indicates a bullish outlook, though a recent Evening Star pattern suggests potential short-term consolidation
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Risks
Regulatory Changes: SEBI’s potential approval of Tuesday as NSE’s expiry day for derivatives could reduce BSE’s market share in index options by 15%, impacting earnings
Valuation Concerns: The current P/E ratio is 71.44, significantly higher than peers like NSE (P/E ~34), suggesting possible overvaluation
Market Volatility: A bearish signal like the Evening Star pattern and competition from NSE could lead to short-term corrections
Sentiment on X
Posts on X reflect mixed sentiment. Some highlight the bonus issue as a reason for the price drop, clarifying it’s a technical adjustment rather than a fundamental decline. Others note short interest in BSE derivatives, suggesting potential manipulation or profit-taking by shorters
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Recommendation
BSE Limited remains a strong investment due to its strong position, strategic initiatives and exposure to India’s growing markets. However, high and regulatory risks call for caution. Investors should consider accumulating on dips near support levels (₹2,000-₹2,100) and monitor SEBI’s. Always do your own research or consult a financial advisor before investing.
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