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:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.