Mukul Agarwal Holds 1.33 Per Cent Stake: Board Likely to Announce Bonus Shares, Stock Price Soared by 17 Per Cent on Friday
Shares of BSE Ltd surged over 16 per cent on Friday after the National Stock Exchange (NSE) postponed its decision to shift the expiry of futures and options (F&O) contracts from Thursday to Monday.
BSE Limited has announced that its Board of Directors will meet on Sunday, March 30, 2025, to consider and approve a proposal for issuing bonus shares. The stock exchange, known for its regular dividend payments, declared a bonus issue in a 2:1 ratio in March 2022. This meant that for every share held, shareholders received two additional shares, increasing their total holdings to three shares for each one they previously owned.
Shares of BSE Ltd surged over 16 per cent on Friday after the National Stock Exchange (NSE) postponed its decision to shift the expiry of futures and options (F&O) contracts from Thursday to Monday. The stock hit a high of Rs 5,519, gaining 16.48 per cent, after NSE announced that its earlier circular was put on hold "until further notice" due to SEBI's consultation paper.
Earlier, on March 4, NSE had planned to implement the new expiry schedule from April 4, 2025, revising the expiry of all existing contracts on April 3. However, if SEBI's consultation paper is implemented later, NSE may continue with Thursday expiries, while BSE keeps its Tuesday expiry. This reduces concerns about BSE losing market share due to NSE’s proposed changes.
Previously, BSE and NSE had chosen Tuesday and Thursday as expiry days for stock and index derivatives. NSE recently proposed shifting its expiry to Monday, which SEBI addressed in its consultation paper. SEBI highlighted that spreading expiry days across the week reduces risk concentration and allows exchanges to offer distinct products. However, too many expiry days could lead to excessive trading activity on expiry days, potentially affecting market stability.
SEBI proposed standardising expiry days to either Tuesday or Thursday for each exchange to ensure consistency and prevent frequent changes that might disrupt trading. Each exchange can retain one weekly benchmark index options contract on their selected expiry day. Additionally, all other equity derivatives, including stock futures and options, will have a minimum one-month duration, expiring in the last week of the month on the designated expiry day.
Further, SEBI suggested that exchanges must now seek prior approval before introducing or modifying any contract expiry or settlement dates.
In the Quarterly Results of December 2024, the company reported a revenue of Rs 831.74 crore, reflecting a YoY growth of 95.20 per cent compared to Rs 426.10 crore in December 2023. The operating profit stood at Rs 294.73 crore, marking a 101.26 per cent increase from Rs 146.44 crore in the same quarter last year. The profit after tax (PAT) increased by 103.04 per cent to Rs 219.67 crore from Rs 108.19 crore in December 2023.
In FY24, the company posted a revenue of Rs 1,592.50 crore, registering a 72.19 per cent growth compared to Rs 924.84 crore in FY23. The net profit for the year stood at Rs 778.39 crore, up 252.74 per cent from Rs 220.67 crore in the previous financial year.
With a PE ratio of 79.3x, the company trades at a premium compared to the industry PE of 48.5. The company has ROCE of 20 per cent and ROE of 15.2 per cent.
The company has a market capitalisation of Rs 73,847.77 crore, with its current price at Rs 5,455.
Investors must keep this stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.