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In early trade on Wednesday, November 12, 2025, the share price of BSE Ltd jumped almost 7% after the company announced a strong quarterly result for the second quarter of FY2025-26 (Q2FY26).
The stock opened at Rs. 2,770 on the NSE, up from its previous close of Rs. 2,644.20, and climbed to an intraday high of Rs. 2,818, reflecting strong investor sentiment. BSE shares were trading 6.6% higher at Rs. 2,803, while the Nifty 50 index was up 0.36% at 25,788.
The exchange operator reported a 61% YoY surge in consolidated net profit to Rs. 557 crore in Q2FY26, compared to Rs. 347 crore in the same period last year. The strong performance was driven by robust growth in its core trading and transaction fee income.
Revenue from operations rose 44% YoY to Rs. 1,068 crore, up from Rs. 741 crore in Q2FY25. The company’s EBITDA jumped 78% to Rs. 691 crore, while EBITDA margin improved to 64.7%, compared to 52.4% a year earlier, reflecting operational efficiency and cost optimization.
For the first half of FY26, BSE registered a net interest margin (NIM) of 50% and consolidated EBITDA for H1FY26 of Rs. 1,083.3 crore. Investment income remained constant at Rs. 65.69 crore, demonstrating stability in non-core returns.
The exchange made a significant contribution of Rs. 10.6 crore to its Settlement Guarantee Fund (SGF) during the July-September quarter, thereby emphasizing its dedication to maintaining a strong and efficient market infrastructure and risk management practices.
The BSE's stock ranked as one of the highest-performing exchange stocks in 2025. The stock's year-to-date growth, as of June 14, was approximately 55%, well ahead of the Nifty 50, which increased only 9%.
In one year, the stock of BSE increased nearly 80%, with a 52-week high of Rs. 3,030 on June 10, 2025, and a 52-week low on March 11 at Rs. 1,227.33.
According to market analysts, the rise in the price of BSE can largely be attributed to the company's increased growth in transaction volumes, the amount of derivatives it has participated in, and an overall rise in investor participation in equity markets.
BSE has engaged in strategic initiatives to diversify the contributors to its revenue stream to support future growth in its business and promote proprietary opportunities through commodity trading and mutual fund distribution platforms, as well as SME-listings.
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BSE's strong results from its second quarter demonstrate its high margins and sturdy foundation.
As trading activity continues to gain traction and profit levels are improved, together with investor confidence, BSE appears to be well-positioned to take advantage of the evolving capital market ecosystem in India.
