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AUM Capital
BSE (Buy)
Target: ₹1,930
CMP: ₹1600.15
BSE is India’s leading exchange group and has played a prominent role in developing the Indian capital market. It is a corporatized and demutualised entity which provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, commodity derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.
It also possesses a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful. They also have a dedicated MF distribution platform BSE StAR MF which is India Largest Mutual Funds Distribution Infrastructure. BSE enjoys strong brand visibility and is the country’s largest stock exchange by the number of companies listed. The exchange is trying to rebuild the derivatives volume that is a potential revenue driver. New initiatives like the insurance platform, power, and spot exchange are promising, INX, which is the market leader is growing strongly and has huge growth potential. High dividend payouts, investment in CDSL, strong balance sheet & debt free status make the stock extremely attractive.
Hence, we recommend a buy on the stock with a target price of ₹1,930, which implies a prospective and potential upside of about 26 per cent with an investment horizon of 9-12 months.
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