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financialnews

Founder And CEO Of F... • 9m

Shares of the Bombay Stock Exchange (BSE), one of Asia’s oldest stock exchanges, witnessed a 7% drop in intraday trading on Wednesday, October 16, 2024, sliding to ₹4,419 per share. The decline followed a downgrade by global brokerage firm Jefferies, which lowered its rating on the stock from ‘hold’ to ‘underperform,’ citing an unfavorable risk-reward ratio in the short term. At the current price, Jefferies believes that the risks outweigh the potential rewards for BSE, with regulatory hurdles like the impact of new market regulations and limited spillover gains posing significant challenges. Despite this, Jefferies raised its target price for BSE to ₹3,500, indicating a potential downside of 21% from its current trading price. Earlier in April 2024, Jefferies had also downgraded BSE from ‘buy’ to ‘hold,’ slightly lowering its price target from ₹3,000 to ₹2,900 click here to know more financialnews24.com

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