Buy National Stock Exchange; target of Rs 2050: Emkay Global Financial
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Emkay Global Financial gave a buy rating to the National Stock Exchange with a target price of Rs 2050.
- ✓The exchange showed satisfactory performance in 2QFY27 despite the CAS implementation.
- ✓Management said, "changes in CAS, expected to go live in Dec-26, should help investors trade more, thus driving volumes."
Story at a Glance
- Category
- MARKET
- Reported By
- MoneyControl
- Reading Speed
- 1 Minute(s)
- Market Focus
- India Economy
Emkay Global Financial' research report on National Stock Exchange NSE reported satisfactory performance in 2QFY27 despite the impact of CAS implementation. Revenue from operations at Rs40.67bn declined ~11% qoq, led by ~16% decline in transaction charges owing to CAS implementation, but was offset by strong growth in Listing Services revenue at Rs1.5bn. Employee expenses at Rs2.2bn declined ~9% qoq, while Technology expenses were up ~6% sequentially. As a result, EBITDA at Rs30.79bn declined ~13% qoq, while EBITDA margin at 75.7% dipped sequentially. The management believes the changes in CAS, expected to go live in Dec-26, should help investors trade more, thus driving volumes.
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