BSE surged 2.39% to Rs 1,922.35, as the scrip resumed its uptrend after a day's pause.
The stock had declined 1.13% in previous trading session to end at Rs 1,877.55. The counter hit a record high of Rs 1,955 in today's trading session. The stock has moved 259% from its 52-week low of Rs 535.7 posted on 25 March 2021.Shares of BSE have advanced 39% in one month as compared to a 4.3% fall in benchmark Nifty 50 index. On a year-to-date (YTD) basis, the stock has zoomed 210% while the benchmark Nifty has added 22.5% during the same period.
The counter saw demand amid media buzz that its rival National Stock Exchange of India (NSE) is inching close to an initial public offering (IPO). Market participants are expecting NSE's valuation to be around Rs 2 lakh crore. NSE's IPO could lead to sharp re-rating in shares of BSE .
On the technical front, the stock's RSI (relative strength index) stood at 77.705. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 1420.84, 1299.91 and 1009.30 respectively.
BSE (formerly Bombay Stock Exchange) established in 1875, is Asia's first stock exchange. BSE plays a prominent role in developing the Indian capital market. BSE is a corporatized and demutualised entity, with a broad shareholder base.
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The company posted a 36.8% rise in consolidated net profit to Rs 63 crore in Q2 FY22 from Rs 46 crore posted in Q2 FY21. Revenue from operations increased by 50.4% to Rs 188.7 crore in Q2 FY22 from Rs 125.4 crore posted in Q2 FY21.
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