BSE shares jump over 4% as Motilal Oswal upgrades stock to Buy. 4 reasons behind bullish call

What happened: BSE shares rose over 4% after Motilal Oswal upgraded the stock to Buy, citing four reasons for its bullish call. Key numbers: EBITDA margin rose to over 65% in FY26 from 9% in FY21, with 70% projected. PAT CAGR of around 27% expected over FY26-28 against revenue CAGR of 23%. Notional F&O ADTO fell 35% in August 2026 versus the April-July 2026 average. Why it matters: The brokerage expects a strong recovery in volume growth, aided by rising member participation and an improving premium-to-notional ratio, with cash segment growth and co-location demand also contributing.

BSE shares rose over 4% after Motilal Oswal upgraded the stock to Buy, citing four reasons for its bullish call.

The brokerage expects a strong recovery in volume growth, aided by rising member participation and an improving premium-to-notional ratio, with cash segment growth and co-location demand also contributing.