BSE Ltd Share Price Today (11 December 2025): Stock Rallies on Strong Earnings, ESG Upgrade and Post‑Bonus Re‑rating

BSE Ltd — the listed entity that operates the Bombay Stock Exchange — is back in the spotlight. As of early afternoon on 11 December 2025, the BSE Ltd share price was trading around ₹2,688–2,690 on the NSE, up roughly 4% versus the previous close, on heavy volumes of about 4.5–4.6 million shares. ^[1]

That move extends a powerful multi‑year run: the stock has more than doubled from its 52‑week low near ₹1,226 and is still trading not far below its record high of ₹3,030. ^[2] At current levels, BSE’s market capitalisation sits at around ₹1.1 lakh crore, putting the exchange operator firmly in India’s mid‑cap financials elite. ^[3]

BSE Ltd Share Price Today: Intraday Action & Recent Returns

Current price (intraday, 11 Dec 2025): about ₹2,689, up ~4.1% on the day. ^[4]
Day range: roughly ₹2,585–₹2,694. ^[5]
52‑week range: about ₹1,226–₹3,030. ^[6]
1‑year return: around 50%, according to fundamental data platforms tracking the stock. ^[7]

Smart‑Investing’s long‑term performance table notes that a ₹1 lakh investment in BSE five years ago would now be worth over ₹36 lakh, underscoring how dramatically the stock has re‑rated as India’s capital‑markets boom has played out. ^[8]

Near term, however, the picture has been choppier: one quantitative model flags negative momentum over the last week (about –6.6%) and a modest 1‑month decline of ~2–3%, even as the 1‑year return remains strongly positive. ^[9] That makes today’s rebound notable — and it comes on the back of a dense news flow around earnings, ESG scores and corporate reshaping.

Earnings Still in Focus: Q2 FY26 Profit Jumps 61%

The main fundamental anchor for the current BSE Ltd share price is the company’s Q2 FY26 (July–September 2025) results, released in November.

Key highlights from the consolidated numbers: ^[10]

Revenue from operations: ~₹1,068 crore, up 44% year‑on‑year.
Consolidated profit after tax: about ₹557–558 crore, a 61% YoY jump.
Sequential growth: profit up ~3.5% vs Q1 FY26; revenue up ~12% quarter‑on‑quarter.
Net profit margin: supported by strong operating leverage; operating margins in the mid‑60s according to quarterly data.
EPS (consolidated): around ₹13.7 for the quarter.

Segment trends from the same disclosures show what is driving those numbers: ^[11]

Equity derivatives: average daily notional turnover rose to about ₹164 lakh crore vs ₹128 lakh crore a year earlier.
Equity cash: average daily turnover in H1 FY26 fell about 19% YoY to roughly ₹7,584 crore, highlighting the structural shift from cash to derivatives.
Transaction charges: revenue here jumped roughly 57% YoY to about ₹794 crore, reflecting the explosive growth in derivatives volumes.

Operating expenses increased to about ₹410 crore (from ₹381 crore a year ago), mainly on technology, regulatory contributions and clearing and settlement costs, but the growth in trading and platform revenues more than offset this. ^[12]

Fundamentally, BSE remains debt‑free, with return on equity around 36% and return on capital employed near 47%, alongside compounded profit growth of ~65% over five years, according to Screener’s consolidated data. ^[13]

Valuation Check: Great Business, Expensive Stock

Despite the earnings momentum, most data providers agree on one thing: BSE Ltd is not cheap.

P/E (trailing): about 60–61x.
Price‑to‑book: roughly 19–21x, with book value near ₹128 per share.
Price‑to‑sales: close to 29x. ^[14]

Smart‑Investing explicitly labels BSE as a “good fundamentals, bad valuations” case: its own intrinsic‑value models cluster around ~₹520 per share, implying the stock trades at a very large premium to many conventional valuation frameworks, even after adjusting for growth. ^[15]

Screener’s automated “pros and cons” checklist paints a similar picture:

Pros: debt‑free balance sheet, strong profit growth (CAGR ~65% over five years), high dividend payout (~41%), high ROE/ROCE.
Cons: the stock trades at roughly 20x book value, far richer than most financials. ^[16]

For investors, that mixture usually translates into a straightforward trade‑off: exceptional business quality, priced for continued perfection.

Street View: Consensus Targets, Ratings and EPS Forecasts

On the sell‑side research side, opinions are broadly positive on the business but cautious on upside from current levels.

Analyst consensus

Investing.com’s aggregation of 15 analysts covering BSE Ltd shows: ^[17]

Consensus rating: Buy.
Breakdown: 9 Buy, 5 Hold, 1 Sell.
Average 12‑month target price:₹2,683.7.
Target range: low around ₹904, high around ₹3,200.
Implied move from current price: essentially flat (about –0.1% downside) at today’s levels.

That matches Trendlyne’s snapshot, which also reports a consensus target of about ₹2,684 and categorises BSE as an “Expensive Performer” with solid fundamentals but a full valuation. ^[18]

Individual brokerage calls

Recent brokerage commentary around the Q2 print has been more nuanced:

Jefferies has maintained a Buy rating with a target of around ₹2,930, highlighting strong derivatives momentum and clarity on the Settlement Guarantee Fund (SGF) contribution policy. ^[19]
Goldman Sachs remains neutral, with a target in the ₹2,450–2,460 zone, flagging rich valuations despite robust earnings. ^[20]
ICICI Securities and Motilal Oswal have more measured Hold/Neutral calls with targets in the ₹2,750–2,800 band — levels the stock has already tested this year, and which their reports mark as “target met”. ^[21]

On the earnings forecast side, one widely followed estimates page expects BSE’s next‑quarter EPS to move into the mid‑₹14 range, consistent with continued growth but not a step‑change relative to Q2. ^[22]

In short: analysts broadly like the franchise but see limited near‑term upside from here, unless earnings surprise again or the derivatives expansion accelerates faster than baked into models.

Technical & Trading Picture on 11 December 2025

Technically, BSE’s price action around ₹2,700 is sitting at an interesting crossroads:

Trendlyne’s composite technical score is in the “neutral” zone (around 58/100), with the stock above long‑term moving averages but consolidating after a steep rally. ^[23]
Smart‑Investing notes that short‑term momentum has cooled even as quarterly earnings trend remains strong. ^[24]

MarketsMojo’s real‑time trading report on 11 December 2025 describes the day’s session as having “high value turnover and robust volume”, backed by elevated delivery volumes and outperformance versus sector and benchmark indices. The stock is trading above its long‑term moving averages but below its 5‑day and 20‑day averages, suggesting a consolidation phase rather than a clean breakout or breakdown. ^[25]

One intraday technical‑levels service pegs support zones in the ₹2,550–2,630 band and resistance clusters between roughly ₹2,755 and ₹2,880, giving traders a sense of the near‑term battlefield if volatility picks up. ^[26]

Corporate Actions in 2025: Bonus Issue, Dividend and the “Crash” That Wasn’t

2:1 bonus issue and the May “price crash”

A big structural event for BSE Ltd in 2025 was its 2:1 bonus share issue:

BSE fixed 23 May 2025 as the record date for the issue of two bonus shares for every one share held, as per its exchange filings. ^[27]
The stock turned ex‑bonus on that date; the share count tripled and the market price adjusted accordingly.

On trading screens, this produced one of the most dramatic optical moves of the year:

Some platforms showed BSE shares “down 66–67% in a day” on 23 May 2025. ^[28]
In reality, newspapers and broker explainers pointed out that the stock actually closed about 5% higher at ~₹2,448 on the ex‑bonus day — the apparent crash was purely a mechanical adjustment ahead of the credit of bonus shares into demat accounts. ^[29]

That bonus issue sits on top of an earlier 2:1 bonus in March 2022, meaning existing shareholders have seen their share count multiply significantly over the last three years. ^[30]

Dividend track record

BSE is also a regular dividend payer:

The company has declared 13 equity dividends since 2017.
In the last 12 months alone, it paid a total of ₹23 per share (including a ₹18 final and ₹5 special dividend in May 2025).
At a spot price near ₹2,689, that works out to a headline yield of ~0.8–0.9%, or about 0.3% after adjusting for bonus issues, according to Trendlyne’s adjusted yield calculation. ^[31]

The dividend yield is modest, but combined with growth, it reinforces BSE’s profile as a growth‑oriented, asset‑light cash generator.

Fresh Developments: ESG Rating Upgrade and Ebix Insuretech Exit

ESG rating of 71 from NSE Sustainability

On 9 December 2025, BSE informed the exchanges that NSE Sustainability Ratings & Analytics had assigned it an ESG score of “71” for FY2025. ^[32]

In its official intimation, BSE clarified that:

The rating covers performance on Environmental, Social and Governance parameters based on public information.
The company did not engage NSE Sustainability directly; the assessment was independently prepared by the rating agency.

For investors increasingly focused on governance and sustainability at market‑infrastructure institutions, that ESG score adds another layer of comfort on the non‑financial risk side.

Exit from Ebix Insuretech

Also on 9 December 2025, BSE disclosed that its wholly owned subsidiary BSE Technologies Private Ltd (BTPL) has divested its entire stake in Ebix Insuretech Private Ltd (formerly BSE Ebix Insuretech) via a share purchase agreement dated that day. ^[33]

The transaction means Ebix Insuretech will cease to be an associate of BSE, subject to pre‑closing conditions. While the financial details have not been widely publicised yet, the move simplifies BSE’s associate structure in insurance‑tech — an area where earlier regulatory scrutiny had centred on how far subsidiaries’ activities could stray from the core exchange mandate. ^[34]

How BSE Ltd Looks From Here

Putting all of this together, as of 11 December 2025 the BSE Ltd stock narrative looks something like this:

Business momentum: Strong. Core trading and platform revenues, especially in equity derivatives, are growing fast; profitability and ROE are high; the balance sheet carries no debt. ^[35]
Valuation: Stretched. Multiples north of 60x earnings and around 20x book price the stock for continued high growth and sustained market‑share gains. ^[36]
Market sentiment: Constructive but not euphoric. Consensus ratings cluster around Buy, but the average target price hovers right around the current market price, implying limited upside in the base case. ^[37]
Flows & trading: Liquidity is excellent, delivery volumes are healthy, and the stock remains a favourite for both retail and institutional investors seeking exposure to India’s capital‑markets infrastructure. ^[38]
Non‑financial factors: ESG score of 71, de‑cluttering of associate holdings like Ebix Insuretech, and BSE’s ongoing role as a key market‑infrastructure and reporting entity (for example in CSCRF‑related regulations) support the governance narrative. ^[39]

Going forward, investors and traders watching the BSE Ltd share price will likely focus on a few big swing factors: the sustainability of derivatives growth, any further regulatory changes to margin norms or exchange economics, competitive dynamics with NSE, and whether earnings can grow rapidly enough to catch up with — or at least justify — present valuations.