BSE Q2 Results Review - Strong Performance Across Parameters: Motilal Oswal

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.BSE Ltd. reported profit after tax of Rs 1.2 billion in Q2 FY24 (beat on our estimates), up 303% YoY but down 73% QoQ (gain on sale of Central Depository Services Ltd. stake recorded in Q1 FY24). However, adjusted PAT came in at Rs 1.07 billion, up 71% QoQ. BSE's reported operating revenue of Rs 3.1 billion, up 46% QoQ and 59% YoY, beating our estimates..After the relaunch, derivative contracts (Sensex and Bankex) are witnessing significant traction from market participants. BSE has increased transaction charges on Sensex options (only on near expiry), with effect from 1st November '23. Thus, the derivative segment would see strong revenue growth..We have upgraded our earning per share estimates by 16%/23% for FY24/FY25 to factor in the better-than-expected equity cash volumes and increasing treasury income from clearing and settlement funds.Reiterate 'Neutral' with a one-year target price of Rs 2250 (based on sum-of-the-parts valuation)..Click on the attachment to read the full report:.Galaxy Surfactants Q2 Results Review - Robust Overall Volumes Led By Growth Across Markets: Motilal Oswal.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BSE Q2 Results Review - Strong Performance Across Parameters: Motilal Oswal

The relaunch of BSE derivatives products has proved to be a trend-changing measure.

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BSE Q2 Results Review - Strong Performance Across Parameters: Motilal Oswal

The relaunch of BSE derivatives products has proved to be a trend-changing measure.

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