On February 10, 2026, shares of BSE Ltd surged over 6.8% to touch a fresh all-time high of ₹3,188.40 on the NSE. This historic breakout follows a blockbuster Q3 FY26 earnings report released late yesterday, where the exchange posted a staggering 174% YoY jump in consolidated net profit, reaching ₹602 Crore.
The rally has cemented BSE’s position as a structural winner in the Indian financial ecosystem. Investors are aggressively pricing in the exchange’s growing dominance in the equity derivatives segment and its massive operating leverage, which saw EBITDA margins expand sharply from 31% to 59% in just one year.
Why is BSE Ltd stock rising today?
The primary catalyst is the exponential growth in Transaction Charges, which surged 86% YoY to ₹952 Crore. This was largely fueled by the exchange’s success in the derivatives market, where it traded a record 772 Crore contracts in Q3 alone.
Furthermore, the BSE StAR MF platform continues to be a monopoly-like powerhouse, holding a dominant 87.4% market share in the mutual fund distribution space. With 7.97 Crore transactions processed in January 2026 alone, the platform provides a high-growth, recurring revenue stream that has thrilled institutional investors.
Q3 FY26 Financial Comparison (Consolidated)
| Key Metric | Q3 FY26 (Actual) | Q3 FY25 (YoY) | Growth (%) |
| Total Revenue | ₹1,334 Cr | ₹829 Cr | 61% ↑ |
| Net Profit (PAT) | ₹602 Cr | ₹220 Cr | 174% ↑ |
| EBITDA Margin | 59% | 31% | 2,800 bps ↑ |
The “Analyst Consensus” on BSE Ltd
Top brokerage firms have rushed to revise their target prices upward following the 11th consecutive quarter of record performance.
- Nuvama Institutional Equities: Raised the target price to ₹3,760, citing strong volume growth and the valuable 15% stake in CDSL.
- SME Global Securities: Highlights the “inherent operating leverage” where rising trading volumes translate disproportionately into bottom-line growth.
- Technical View: Analysts note a bullish breakout from a 168-day cup-and-handle formation, suggesting the momentum could carry the stock toward the ₹3,300–₹3,400 zone in the short term.
Also Read: ISGEC Heavy Engineering Share Price Hits 20% Upper Circuit: Why Q3 Profits Surged 92%
The Bottom Line
BSE Ltd is no longer just “India’s oldest exchange”—it is now a high-velocity fintech growth story. With profits nearly tripling and derivatives revenue hitting ₹784 Crore, the stock remains a primary beneficiary of the financialization of Indian household savings.