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Shares of the Bombay Stock Exchange (BSE), one of Asiaās oldest stock exchanges, witnessed a 7% drop in intraday trading on Wednesday, October 16, 2024, sliding to ā¹4,419 per share. The decline followed a downgrade by global brokerage firm Jefferies, which lowered its rating on the stock from āholdā to āunderperform,ā 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 ā¹3,500, indicating a potential downside of 21% from its current trading price. Earlier in April 2024, Jefferies had also downgraded BSE from ābuyā to āhold,ā slightly lowering its price target from ā¹3,000 to ā¹2,900 click here to know more financialnews24.com
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