BSE extends rally, zooms 52% in 10 days; stock hits record highAdministrator_India | March 11, 2022 | 0 | Market
Shares of BSE Ltd hit a record high of Rs 2,848.40 after they rallied 8.7 percent on the National Stock Exchange (NSE) in Friday’s intra-day trade.
At 10:08 am, the stock traded 6.5 percent higher at Rs 2,789 against a 0.5 percent gain on the Nifty50 index. In the past 10 trading sessions, the stock has zoomed 52 percent, as compared to a 2.5 percent rise on the benchmark index.
In the past week, the market price of BSE has rallied 35 percent after the company fixed March 22, 2022, as the record date to determine the names of shareholders who shall be entitled to allotment of bonus equity shares in the ratio of 2 new fully paid-up equity shares of Rs 2 each for every 1 paid-up equity share held by the shareholders of the company.
The board of directors of BSE on February 8, 2022, had approved the issue of bonus shares in the ratio of 2:1.
In the past six months, the stock price of BSE has more than doubled or has advanced 123 percent on the back of strong operational performance. In comparison, the Nifty50 index was down 5 percent. On a one-year time frame, the stock has skyrocketed 370 percent against a 9 percent gain on the benchmark index.
For the October-December quarter (Q3FY22), BSE had reported an 86 percent year-on-year (YoY) jump in its consolidated net profit to Rs 58.6 crore. The company’s revenues from operations grew 60 percent YoY to Rs 192.7 crore during the quarter. The strong growth was driven by a 44 percent jump in average daily turnover (ADTV) in the equity cash segment to Rs 5,217 crore. The ADTV for the equity derivatives and currency derivatives segments rose 23 percent to Rs 2.47 trillion and 29 percent to Rs 27,124 crore, respectively.