BSE Ltd.'s share price dropped 5% in Tuesday's session without any fundamental trigger. General weakness across markets due to tariff uncertainty weighed on the stock exchanges' stock.
Meanwhile, the Securities Exchange Board of India's High Powered Advisory Committee will take a call on BSE's competitor, the National Stock Exchange's colocation and settlement case, NDTV Profit said. The leading bourse is in the process of getting approval from the regulator for its Rs 1,400 crore initial public offer.
On Monday, the market structure provider said that its Chief Information Officer, Subhash Kelkar, has resigned. The share price rose 3.12% to Rs 2,486.6 apiece in the previous session.
BSE share price declined 5.09% to Rs 2,360 apiece, the lowest level since May 23. It was trading 3.08% down at Rs 2,409.60 apiece as of 11:51 a.m., as compared to 0.38% decline in the NSE Nifty 50 index.
The stock surged 202.66% in 12 months, and 35.8% on year to date basis. Total traded volume so far in the day stood at 1.2 times its 30-day average. The relative strength index was at 41.46.
Out of 13 analysts tracking the company, eight maintain a 'buy' rating, four recommend a 'hold' and one suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 3.8%
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