NSE shares hit fresh highs, rise over 2%; Nuvama sees 14% upside, calls the stock exchange a ‘compelling buy’

What happened: NSE shares rose over 2% to a fresh high after Nuvama Institutional Equities initiated coverage with a "compelling buy" rating and a target price of ₹2,220. Key numbers: Target ₹2,220 implies about 14% upside. Stock at ₹1,994.50, prior 52-week high ₹1,965 on 11 November. Nuvama values NSE at 40 times estimated September 2028 EPS. Why it matters: Nuvama cites NSE's liquidity advantage and network effects as supporting its dominant position, and expects the valuation gap with BSE to narrow despite flagging regulatory and competitive risks.

NSE shares rose over 2% to a fresh high after Nuvama Institutional Equities initiated coverage with a "compelling buy" rating and a target price of ₹2,220.

Nuvama cites NSE's liquidity advantage and network effects as supporting its dominant position, and expects the valuation gap with BSE to narrow despite flagging regulatory and competitive risks.