BSE shares climb 6% as company mulls bonus share issuance on March 30

BSE shares surged nearly 6%, hitting the day's high of Rs 4,730.30 on the NSE after the exchange announced that its board of directors would meet on March 30 to consider and approve a proposal to issue bonus shares. This could mark the stock exchange operator's second bonus issue in three years.

BSE shares had fallen for three consecutive sessions leading up to Wednesday, with the stock closing at Rs 4,474.70 on that day.

If approved, this would be BSE’s second bonus share issue since March 2022, when it allotted two bonus shares for every one share held by investors.

In line with regulatory requirements, BSE stated that the trading window for dealing in its securities would remain closed from Wednesday, March 26, through Tuesday, April 1. The trading window will also remain shut from April 1 until 48 hours after the declaration of financial results, the company said in the filing.

BSE shares have gained 91% over the past year and climbed 5% in the last week. The stock, listed on the National Stock Exchange, has declined by 17.89% in the past three months but remains up by 16.59% over the last six months.

Technical indicators show that the stock is trading below five of its eight key simple moving averages but remains above the 10-day, 20-day, and 200-day averages. The 14-day Relative Strength Index stands at 49.9, indicating neutral momentum.

India's oldest exchange, BSE, reported stellar third-quarter numbers, with its net profit soaring 104% year-on-year (YoY) to Rs 220 crore. Revenue from operations, on the other hand, jumped 108% YoY to Rs 773 crore.

The profit before tax and exceptional items during the third quarter also more than doubled, rising to Rs 268 crore from Rs 127 crore in the same quarter of last year. Operating expenses in the reporting period stood at Rs 368 crore, compared with Rs 213 crore in the corresponding period of the previous fiscal year.

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