Investec downgrades BSE

Описание: Investec has downgraded its rating on BSE from Hold to Sell. The brokerage house has arrived at a target price of Rs1720/share on BSE. The stock rallied during the second half of the year due to sustained growth in volumes. BSE has also benefitted from a sharp re-rating of its 20% stake in CDSL. Apart from this, the company’s valuation went through a re-rating due to the anticipation of NSE getting listed. It can be said that the strong primary capital raise and secondary market transactions seen during 2021 will moderate. At present, BSE trades at a significant premium as compared to its global peers.
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