BSE Share Price Jumps As Board To Consider Bonus Share

BSE Ltd.'s share price jumped over 5% to a one-month high during early trade on Thursday, after the company said the board will consider issuing bonus shares on March 30.

If approved, this will be BSE’s second bonus share issue in three years. In February 2022, the exchange issued a 2:1 bonus share, giving investors two additional shares for every share held.

The announcement came after the company’s shares have risen more than 90% over the past 12 months. Since its listing in 2017, the stock has increased 15.66 times.

BSE has issued dividends 22 times since debuting on the stock exchanges. As of September 2024, the company had a net cash equivalent of Rs 2,532.38 crore.

Over 5.6 lakh retail investors holding nominal share capital up to Rs 2 lakh own 32.41% stake of BSE.

Shares of BSE rose 5.8% intraday at Rs 4,735 apiece, going beyond its 200-day daily moving average. The benchmark Nifty 50 was up 0.5%.

The stock has fallen 11% so far this year. The total traded volume so far in the day stood at 2.1 times its 30-day average. The relative strength index was at 61.

Ten out of 13 analysts tracking BSE have a 'buy' rating on the stock, two recommend a 'hold' and one suggests a 'sell', according to Bloomberg data. The 12-month analysts' consensus target price on the stock is Rs 5,753.73, implying an upside of 22%.