Shares of Bombay Stock Exchange Ltd (BSE) will be in focus today, August 8, after the company posted its Q1 FY26 results on Thursday post market hours. The exchange reported a 9 per cent quarter-on-quarter rise in net profit to Rs 539 crore from Rs 494 crore, while revenue jumped 13 per cent to Rs 958 crore.
Jefferies trims target, maintains ‘Hold’
Global brokerage Jefferies has kept a Hold rating on BSE but slashed its price target to Rs 2,790. The firm said Q1 profit was in line with its estimate, aided by lower net clearing costs and higher other income. However, revenue growth of 58 per cent year-on-year slightly missed projections due to weaker cash and corporate revenues.
Jefferies also cut its EPS estimates by 5–6 per cent to reflect lower options activity, though management indicated that the upcoming weekly expiry shift from Tuesday to Thursday is expected to have limited impact.
Goldman Sachs stays ‘Neutral’
Goldman Sachs reiterated a Neutral rating with a price target of Rs 2,550. Q1 underlying EPS at Rs 12.8 was 8 per cent above its estimate, helped by lower operating expenses. The brokerage noted that a dip in cash trading revenue was offset by stronger non-transactional revenue.
Motilal Oswal sees market share loss
Motilal Oswal Financial Services maintained a Neutral rating with a target price of Rs 2,600, warning that BSE could lose 300–400 basis points of premium turnover market share once the expiry shift takes effect in September 2025. It also flagged the risk of potential regulatory measures to curb retail F&O activity.
The brokerage, however, raised earnings estimates for FY26 and FY27 by 7 per cent each, factoring in lower clearing house costs and higher colocation income.
Stock performance
BSE shares ended Thursday’s session 2.70 per cent higher at Rs 2,452, taking their 2025 gains to nearly 36 per cent.
