BSE Q3 Review - Operational Miss Due To Muted Services To Corporates: Motilal Oswal 
Pedestrians walk past the Bombay Stock Exchange (BSE) building in Mumbai, India (Photographer Dhiraj Singh/Bloomberg)

BSE Q3 Review - Operational Miss Due To Muted Services To Corporates: Motilal Oswal 

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Motilal Oswal Report

BSE Ltd. reported revenue growth of 7% YoY in Q3 FY21, below our estimates, on account of lower revenue from services to corporates.

Despite 6% YoY decline in revenue from Star mutual fund (on a price renegotiation), transaction charges increased 21% YoY on account of increased revenue in the equity segment.

The management’s decision to explore options to unlock value from its Star MF segment is encouraging; however, no bids have been accepted thus far.

Cross-subsidization by National Stock Exchange has limited monetization opportunities for BSE in the India International Exchange and commodity derivatives segments in the near term.

Click on the attachment to read the full report:

Motilal Oswal BSE Q3FY21 Result Update.pdf


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