Jefferies cuts target prices for BSE, Turtlemint & other stocks ahead of Q2 results. Check list

What happened: Jefferies cut target prices for BSE, Turtlemint and several other non-lending financial stocks ahead of Q2 results. It prefers Groww, Star Health, MCX, ICICI General Insurance, Max Financial, Nuvama and KFin Tech. Key numbers: BSE target cut to Rs 2,840 from Rs 2,940, Underperform. CAMS to Rs 910 from Rs 960, Buy. Why it matters: Jefferies cites lower VIX and CAS issues for BSE, with September 2026 option ADTO down 15% and profit 16% lower sequentially. Multi-line insurers face competition in fire and motor, with rising loss ratios from motor and Nat Cat losses.

Jefferies cut target prices for BSE, Turtlemint and several other non-lending financial stocks ahead of Q2 results. It prefers Groww, Star Health, MCX, ICICI General Insurance, Max Financial, Nuvama and KFin Tech.

Jefferies cites lower VIX and CAS issues for BSE, with September 2026 option ADTO down 15% and profit 16% lower sequentially. Multi-line insurers face competition in fire and motor, with rising loss ratios from motor and Nat Cat losses.