Shares of stock exchange BSE Ltd rose as much as 1.06 per cent to Rs 923.5 and were set to break two straight session of losses. The stock posted its biggest intra-day percentage gain since November 13. At about 12.15 pm, the stock was quoting at Rs 922.05, up Rs 8.20 or 0.90 per cent on the NSE.
Nomura has started coverage on the stock with 'Neutral' rating, with a target price of Rs 1,000. The brokerage said the exchange has gradually lost market share in equities, but is diversifying into other segments, such as non-equity classes, depositary/clearning business. It expects large part of value for the exchange co to continue coming from non-core segments.
Five out of 6 analysts have a 'Buy' rating on the stock, with one having 'Hold' ; median price target of Rs 1,212.50, according to Thomson Reuters data.