We maintain our Buy rating and assign a SoTP-based target price of Rs 3,050, based on 40 times core FY26E profit after tax + CDSL stake + net cash ex SGF.
A bronze bull statue stands at the entrance to the BSE office in Mumbai (Photo: Vijay Sartape/NDTV Profit)
NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.