BSE rises; Nomura initiates with 'Neutral'

Last Updated: Thu, Dec 07, 2017 11:45 hrs
Sensex (IANS photo)

Shares of stock exchange co BSE Ltd rise as much as 1.06 pct to 923.5 rupees and were set to break a 2 straight session of losses.

Stock posts biggest intraday pct gain since Nov 13.

Nomura starts coverage on stock with 'Neutral' rating, TP of 1,000 rupees.

Says exchange has gradually lost market share in equities, but is diversifying into other segments, such as non-equity classes, depositary/clearning business.

Nomura says expect large part of value for the exchange co to continue coming from non-core segments.

5 out of 6 analysts have a 'Buy' rating on the stock, with one having 'Hold' ; median price target of 1,212.50 rupees, according to Thomson Reuters data.

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