Shares of the Bombay Stock Exchange (BSE) jumped by 5%, reaching a high of ₹2,834.80, after the National Stock Exchange of India (NSE) restarted its long-delayed public offering process. According to a Reuters report, NSE has re-applied for a “no-objection” from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO).
Sources mentioned in the report, who chose to remain anonymous, confirmed that NSE is moving forward with the IPO process by seeking approval from SEBI.
Earlier this month, NSE reported a strong performance for the June quarter, with consolidated profit increasing by 39% year-on-year (YoY) to ₹2,567 crore. Revenue from operations surged 51% YoY to ₹4,510 crore. During this period, NSE also made an additional contribution of ₹587 crore to boost the Core Settlement Guarantee Fund to ₹10,500 crore, as advised by SEBI. NSE earned ₹3,623 crore in transaction charges in Q1, marking a 44% YoY growth.
On the other hand, BSE reported a significant 181% YoY increase in revenue for the first quarter ending June 2024. However, its net profit dropped by 40% YoY to ₹265 crore, compared to ₹443 crore in the same quarter last year.
Over the past year, BSE shares have delivered impressive returns of 207%, and in the last three months, the stock has risen by 3%.
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