Shares of BSE Ltd. hit a lifetime high level on Monday after it hiked transaction costs for equity derivatives.
The exchange increased transaction costs for equity derivatives, with the premium value below Rs 3 crore at Rs 500 per crore.
Revised Transaction Costs:
Rs 500 per crore for premium value up to Rs 3 crore
Rs 3,750 per crore for premium value between Rs 3 crore and Rs 100 crore
Rs 3,500 per crore for premium value between Rs 100 crore and Rs 750 crore
Rs 3,000 per crore for premium value between Rs 750 crore and Rs 1,500 crore
Rs 2,500 per crore for premium value between Rs 1,500 crore and Rs 2,000 crore
Rs 2,000 per crore for premium value over Rs 2,000 crore
Shares of BSE Ltd. surged 7.89% to Rs 1,715 apiece, compared to a 0.35% fall in the NSE Nifty 50 as of 10:44 a.m. The stock rose 13.24% intraday to a life-high level of Rs 1,798. It rose most in a day in over 18 months since March 14, 2022.
The average traded volume so far in the day stood at 3.03 times its monthly average, while the relative strength index was at 87, indicating the stock may be overbought.
Of the six analysts tracking the company, four maintain a 'buy' rating, and two suggest a 'hold', according to Bloomberg data. The average 12-month consensus price target implies a potential downside of 14.6%.
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