Shares of NSE valued at Rs 1,860 crore changed hands in September

Stock price largely unchanged over the past one year

Shares of the National Stock Exchange (NSE) valued at Rs 1,860 crore changed hands in September, according to data from the exchange. The weighted average traded price was Rs 2,939, bringing the exchange's valuation to Rs 1.45 trillion. The highest and lowest trading prices for the stock were Rs 3,600 and Rs 2,200, respectively. Although NSE shares are not listed, they are actively traded in the unlisted market.

Over the past year, NSE shares have seen little change, largely due to uncertainty surrounding its initial public offering (IPO). In September 2022, about 2.57 million shares were traded at a weighted average price of Rs 2,998.

 

For the first quarter ending June 30, 2023 (Q1FY24), NSE reported a consolidated net profit of Rs 1,844 crore, marking a 9 per cent growth year-on-year. Revenue from operations for the same period stood at Rs 2,987 crore, up 13 per cent year-on-year. The exchange is yet to release its earnings for the September 2023 quarter.

To trade NSE shares, buyers must meet the 'fit and proper' criteria, and all transactions are vetted by the exchange. Currently, the approval process for purchasing shares can take between three and four months. However, following the release of the March 2023 quarterly earnings, NSE's Managing Director and Chief Executive Officer Ashish Chauhan said the exchange is working to reduce this approval time to about a week.

MCX gains 4% as new platform goes live

Shares of Multi Commodity Exchange of India (MCX) rose 4 per cent to finish at a new record high of Rs 2,197 on Monday. The latest gains came as the country’s largest commodity bourse transitioned to a new trading platform, which is seen boosting its profit margins. Trading commenced on the new web-based commodity derivatives platform (CDP) at 10.45 am, instead of the scheduled start of 9.00 am.

MCX said the change in trading-hour commencement was only for the debut day and from October 17, trading will start at the usual time of 9.00 am. Exchange represe­ntatives said trading went smoothly on the new CDP. However, few brokers complained of delays in order confirmations. They said multiple contracts clocked lower-than-usual volumes and higher bid-ask spreads. However, Narinder Wadhwa, President, Commodity Participants Association of India (CPAI) said that the issues were for only those brokers who had not adjusted their servers properly.

ICICI Securities Q2 profit soars 41% to Rs 424 crore

ICICI Securities (ISec) on Monday reported a 41 per cent year-on-year growth in net profit to Rs 424 crore for the second quarter ended in September 2023. The broking and investment banking firm saw its revenues soar 44 per cent to Rs 1,249 crore. ISec’s retail equities revenue stood at Rs 701 crore, distrib­ution income reac­hed Rs 176 crore, private wealth manage­ment revenue stood at Rs 361 crore.

On the institu­tio­nal side, issuer services, and advisory revenue came in at Rs 79 crore, while institu­tional equity hit Rs 105 crore. ICICI Securities added 224,000 new clients during the quarter, taking its customer base to 9.5 million. The company’s board approved an interim dividend of Rs 12 per share. Shares of ISec last closed at Rs 631, valuing the company at Rs 20,391 crore.