Morgan Stanley and JPMorgan both initiated $NSE at Overweight, targets ₹2,315 and ₹2,130, up to 30% upside, betting on retail SIP flows and household savings moving into equities. Shares were flat Mon

What happened: Morgan Stanley and JPMorgan issued Overweight calls on NSE shares, setting price targets of ₹2,315 and ₹2,130 respectively, even as the stock traded largely flat on 2 November. Key numbers: Morgan Stanley target ₹2,315, about 30% upside. JPMorgan target ₹2,130, nearly 20% upside. Why it matters: Both brokerages see NSE benefiting from rising retail participation and SIP flows, while flagging market-share pressure in index options and regulatory changes as risks. JPMorgan sees the worst of index options share losses as potentially behind it.

Morgan Stanley and JPMorgan issued Overweight calls on NSE shares, setting price targets of ₹2,315 and ₹2,130 respectively, even as the stock traded largely flat on 2 November.

Both brokerages see NSE benefiting from rising retail participation and SIP flows, while flagging market-share pressure in index options and regulatory changes as risks. JPMorgan sees the worst of index options share losses as potentially behind it.