NSE shares wipe off Rs 41,000 crore after listing day pop as stock slips below IPO price. Why are analysts still bullish?

What happened: NSE shares listed at Rs 1,800 on September 24, jumped to Rs 1,878, then fell to Rs 1,712, below the Rs 1,785 IPO price. Key numbers: IPO price Rs 1,785. Listing price Rs 1,800. Peak Rs 1,878. Low Rs 1,712. Down nearly 9% from peak, 4% below IPO price. About Rs 41,000 crore erased from peak market value. Market cap around Rs 4.27 lakh crore, ranking 12th. Emkay target Rs 2,050. Why it matters: Analysts remain bullish despite the slide. Emkay has a Buy call, PL Capital an Accumulate rating, citing capital market growth, NSE's leadership and strong cash generation.

NSE shares listed at Rs 1,800 on September 24, jumped to Rs 1,878, then fell to Rs 1,712, below the Rs 1,785 IPO price.

Analysts remain bullish despite the slide. Emkay has a Buy call, PL Capital an Accumulate rating, citing capital market growth, NSE's leadership and strong cash generation.