The stock of BSE Limited saw a jump of around 9 percent today and currently are available for Rs 661. In the last one month period, the scrip gained nearly 15 percent ranging from Rs 576.70 at the start of June to the current levels.
The stock prices increased after the company, through a regulatory filing with the National Stock Exchange (NSE) today, intimated that its Board will be conducting a meeting on the 6th of July 2023 to discuss a possible buyback of shares.
The last time the exchange chose the buyback route was in the year 2019 when its fully paid-up equity shares were bought back at a price of Rs 680 per equity share. The possible buyback transaction, if approved by the Board, will be the first time after a period of four years that the company shows interest in buying back the shares.
The basic financial parameters of the exchange such as the operating revenues and net profits went up in the recent quarters with the formal moving from Rs 238 crores during Q3FY22-23 to Rs 258 crores in Q4FY22-23 and the latter, keeping the timeframe the same, took a shift from Rs 33 crores to Rs 79 crores indicating an increase of 140 percent.
BSE Limited, one of the leading exchange groups in India, facilitates trading in securities and other ancillary services. It offers various services such as trading in equity, derivatives, debt instruments, mutual funds, etc. It acts as a trading platform provider for over 5000 companies listed on its exchange.
Written by Amit Madnani
