Shares of BSE Ltd. jumped the most in over nine months on its proposed share buyback plans.
On Thursday, July 6, the company's board of directors will discuss the proposal, it said in an exchange filing.
Shares of the company rose 5.47% to Rs 641.85 apiece as of 11:56 a.m., compared to a 0.54% advance in the NSE Nifty 50. The stock gained as much as 7.08% intraday to Rs 651.65 apiece, the most in over nine months since Sept. 21, 2022.
Total traded volume stood at 5.5 times its 30-day average. The relative strength index was at 77, implying that the stock maybe overbought.
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Out of the six analysts tracking the company, two maintain a 'buy' rating and four recommend a 'hold', according to Bloomberg data. The average 12-month consensus price target implies a potential upside of 2.7%.
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