Mumbai: The National Stock Exchange of India (NSE) hit a fresh milestone on Friday, November 13, as its shares crossed Rs 2,000 for the first time. The stock climbed to a 52-week high of Rs 2,007.60 on the BSE, about 0.9 percent above its previous close.
The shares later eased to Rs 1,994.50, still up Rs 4.80, or 0.24 percent, from the previous close of Rs 1,989.70. At that price, NSE’s market capitalisation stood at Rs 4,93,638.75 crore.
Eight Gains In Nine Sessions
NSE opened at Rs 1,997 and touched an intraday low of Rs 1,981. The stock has risen in eight of the past nine sessions, gaining nearly 11.5 percent over the period as a recovery in Indian equities supported shares of capital market companies.
Friday’s peak was about 11.5 percent above the Rs 1,800 level at which NSE closed on its BSE debut on September 24. The shares had listed at a 0.9 percent premium to the Rs 1,785 issue price.
Higher Trading Volumes Lift Revenue
The rally follows NSE’s September quarter results, which showed consolidated net profit rising 23 percent year-on-year to Rs 2,578 crore from Rs 2,098 crore. Consolidated total income grew 9 percent to Rs 4,554 crore.
Operating earnings before interest, tax, depreciation and amortisation (EBITDA) more than doubled to Rs 3,079 crore. The operating EBITDA margin stood at 76 percent for the quarter.
Transaction charges brought in Rs 3,035 crore, up 9 percent from a year earlier, as trading activity increased in the cash market and equity options segments. Average daily traded value in the cash market rose 24 percent year-on-year to Rs 1.18 lakh crore.
For the first half of FY27, consolidated net profit grew 13 percent year-on-year to Rs 5,698 crore, while total income increased 9 percent to Rs 9,807 crore.
Institutions Led IPO Demand
NSE’s Rs 22,562 crore initial public offering was entirely an offer for sale, with existing shareholders selling shares at Rs 1,785 apiece. Investors bid for 5.71 times the shares on offer.
Qualified institutional buyers led demand, subscribing to 12.7 times their allotted portion. At Friday’s quoted price of Rs 1,994.50, NSE shares were about 11.7 percent above the issue price. The intraday high took that gain to roughly 12.5 percent.
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