BSE Share Price: Despite changing the expiry date to September 2025, the third quarter of the current fiscal year 2026 of BSE was good. Moreover, after good trading results, some brokerages also increased their target prices. Due to this, BSE shares jumped more than 6% in early trading today. Some investors took advantage of this rally, due to which the price softened a bit, but it remains in a strong position. Currently, it is trading at ₹3,171.60, up 6.25% on BSE.

It had risen by 6.81% intraday to reach a record high of ₹3,188.40. Looking ahead, out of 16 analysts covering it, 12 have given a buy rating, while four have given a hold rating. No analyst has advised to sell. Apart from this, brokerages UBS, Jefferies, and Nuvema have increased their target prices.

The quarter of December 2025 was good for BSE, with quarter-on-quarter turnover increasing by 30%. Its average daily notional turnover increased by 28% to ₹210 lakh crore, while its average daily premium turnover increased by 29.7% to ₹19,459 crore. Revenue performance was better than expected due to exchange transaction charges. BSE’s operating income rose 16% quarter-on-quarter to ₹1,244 crore, while operating profit rose 13% to ₹778 crore.

However, higher regulatory contribution impacted margins. BSE’s regulatory contribution increased 28% quarter-on-quarter to ₹187 crore, while margins declined to 62.5% from 64.7%.

What is the brokerage sentiment?

UBS has given buy rating to BSE and increased its target price to ₹ 3,650 per share. The brokerage firm’s report said that the stock missed its profit target in the December 2025 quarter due to high costs, but its share price rose, revenue was strong, and premium average daily turnover remained strong.

The UBS report also emphasized BSE management’s expectation that the STT rate hike will have less impact on options volumes than previously expected. BSE is also trying to improve liquidity in long-term contracts by increasing market share.

Jefferies

Jefferies has given hold rating to BSE, but has increased its target price to ₹ 3,050. The brokerage firm said its net profit of ₹610 crore was higher than expected. The brokerage firm has increased its EPS (earnings per share) estimates for FY2026-28 by 4-7%. Increasing market share may boost growth in the short term, but uncertainty regarding new products may pose a challenge to growth after FY2029.

Nuwama

Brokerage firm Nuvama has given a buy rating on BSE, but has increased its target price to ₹ 3,760. In its report, the brokerage firm said that despite changing the expiry date to September 2025, BSE gained 29.4% market share of Index Options ADTPV (Average Daily Trading Volume) in the December 2025 quarter, leading to 60.8% year-on-year and 16.4% quarter-on-quarter revenue growth.

Due to operating leverage, BSE’s operating profit margin increased by 443 basis points year-on-year to 60.8%, while operating profit increased by 73.5% year-on-year and 11.1% quarter-on-quarter. The brokerage firm increased its earnings estimates by 8.2% for FY2026, 21.9% for FY2027 and 21.1% for FY2028.