BSE Shares Surge Post Ex-Bonus Adjustment, Marking 30% Gain in 2025

Shares of BSE Ltd had quite the day. After adjusting for a 2:1 bonus issue, the stock price dropped sharply by about 66.6%. But here's the real story: even with that technical adjustment, BSE stock has climbed 30% since the start of 2025. So, momentum is clearly on BSE's side despite what the numbers might suggest at first glance.

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Ex-Bonus Adjustment Clarified

On May 23, 2025, BSE shares went ex-bonus. That means for every share you held, you got two more. While this move caused the share price to drop to ₹2,401.50 at 11:00 AM IST, it doesn't mean shareholders lost money. The value was spread across more shares. So, while the price per share fell by 65.68%, your total investment stayed the same.

Strong Financial Performance Fuels Investor Confidence

One of the big reasons for investor optimism? BSE's blowout earnings. The company reported a massive 364% jump in net profit for Q4 FY25, bringing in ₹493 crore. Revenue wasn't far behind, growing 75% yearly to ₹847 crore.

And there's more good news: BSE also announced a hefty final dividend of ₹23 per share. That's always a welcome bonus for shareholders.

Strategic Developments and Market Dynamics

BSE isn't just riding a wave; it's steering it. The exchange has made smart plays in the derivatives market. Its share of index options has jumped from 3% to as much as 15%. This growth was boosted by SEBI, which has been working to balance the scales in a market dominated by NSE.

SEBI's latest move? Proposing to standardise equity derivatives contract expiries to Tuesdays or Thursdays. Since BSE already runs Tuesday expiries, that could help it hold its ground while limiting NSE's plans to introduce Monday expiries.

Investor Sentiment and Market Buzz

There's been a lot of positive chatter around BSE lately, and it's not just the numbers. India's overall economic outlook is strong, and BSE is well-placed to ride the wave, especially with more retail investors entering the market.

Analysts and investors alike are crediting BSE for staying nimble. The exchange is growing in hot segments like equity derivatives and commodities, and it's beefing up its tech, faster trading, stronger surveillance systems, and other improvements that make it even more attractive to institutional players.

Retail investors also show love, lured by strong dividend yields and a solid future outlook. There's genuine excitement about where BSE is headed on forums and finance sites.

Analyst Perspectives and Future Outlook

Analysts are bullish. Ventura Securities gave BSE a 'Buy' rating, with a target price of ₹5,422 over the next two years. They're projecting an 80% compound annual growth rate (CAGR) in EBITDA and a 70.2% CAGR in net earnings from FY24 to FY27.

Brokerages are also watching how well BSE can follow through on its plans. If the exchange keeps diversifying its income, teams up with fintech players, and builds its market presence, its stock could continue to get re-rated.

Bottom line? With the bonus issue now baked into the price, experts urge investors to look beyond short-term noise and focus on the fundamentals. The road ahead looks bright as long as BSE keeps delivering and seizing new opportunities.