BSE Limited

NSEI:BSE Stock Report

Market Cap: ₹786.6b

BSE Valuation

Is BSE undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of BSE when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BSE (₹5727.9) is trading above our estimate of fair value (₹1627.96)

Significantly Below Fair Value: BSE is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BSE?

Key metric: As BSE is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for BSE. This is calculated by dividing BSE's market cap by their current earnings.
What is BSE's PE Ratio?
PE Ratio95.1x
Earnings₹8.27b
Market Cap₹786.59b

Price to Earnings Ratio vs Peers

How does BSE's PE Ratio compare to its peers?

The above table shows the PE ratio for BSE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average61.5x
MCX Multi Commodity Exchange of India
99.2x28.9%₹344.3b
CRISIL CRISIL
63.2x14.5%₹423.1b
IEX Indian Energy Exchange
42x14.9%₹165.2b
ICRA ICRA
41.5x15.6%₹62.8b
BSE BSE
95.1x33.7%₹786.6b

Price-To-Earnings vs Peers: BSE is expensive based on its Price-To-Earnings Ratio (95.1x) compared to the peer average (61.5x).

Price to Earnings Ratio vs Industry

How does BSE's PE Ratio compare vs other companies in the IN Capital Markets Industry?

20 CompaniesPrice / EarningsEstimated GrowthMarket Cap
533095 Bengal & Assam
2.9xn/aUS$1.25b
VLSFINANCE VLS Finance
4xn/aUS$145.37m
536773 Jindal Poly Investment and Finance
2.6xn/aUS$119.28m
JINDALPHOT Jindal Photo
2.8xn/aUS$118.15m
BSE 95.1xIndustry Avg. 24.6xNo. of Companies34PE020406080100+
20 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BSE is expensive based on its Price-To-Earnings Ratio (95.1x) compared to the Indian Capital Markets industry average (24.6x).

Price to Earnings Ratio vs Fair Ratio

What is BSE's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BSE PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio95.1x
Fair PE Ratio33.4x

Price-To-Earnings vs Fair Ratio: BSE is expensive based on its Price-To-Earnings Ratio (95.1x) compared to the estimated Fair Price-To-Earnings Ratio (33.4x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst BSE forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₹5,727.90
₹4,870.60
-15.0%
24.1%₹6,500.00₹3,500.00n/a5
Dec ’25₹4,670.75
₹3,916.80
-16.1%
18.7%₹5,000.00₹2,974.00n/a5
Nov ’25₹4,463.65
₹3,816.80
-14.5%
17.7%₹5,000.00₹2,974.00n/a5
Oct ’25₹3,858.90
₹2,845.67
-26.3%
10.1%₹3,300.00₹2,350.00n/a6
Sep ’25₹2,832.65
₹2,845.67
+0.5%
10.1%₹3,300.00₹2,350.00n/a6
Aug ’25₹2,643.25
₹2,881.00
+9.0%
11.1%₹3,300.00₹2,300.00n/a6
Jul ’25₹2,574.10
₹3,010.86
+17.0%
7.0%₹3,400.00₹2,686.00n/a7
Jun ’25₹2,693.85
₹3,010.86
+11.8%
7.0%₹3,400.00₹2,686.00n/a7
May ’25₹2,790.15
₹3,006.57
+7.8%
5.7%₹3,200.00₹2,686.00n/a7
Apr ’25₹2,709.90
₹2,848.71
+5.1%
7.0%₹3,130.00₹2,550.00n/a7
Mar ’25₹2,336.45
₹2,848.71
+21.9%
7.0%₹3,130.00₹2,550.00n/a7
Feb ’25₹2,493.45
₹2,710.17
+8.7%
10.1%₹3,130.00₹2,345.00n/a6
Jan ’25₹2,203.05
₹2,134.33
-3.1%
21.4%₹2,700.00₹1,380.00n/a6
Dec ’24₹2,498.65
₹2,134.33
-14.6%
21.4%₹2,700.00₹1,380.00₹4,670.756
Nov ’24₹1,794.60
₹1,797.80
+0.2%
14.7%₹2,140.00₹1,380.00₹4,463.655
Oct ’24₹1,297.95
₹1,131.00
-12.9%
30.4%₹1,530.00₹620.00₹3,858.904
Sep ’24₹1,126.15
₹729.75
-35.2%
25.7%₹1,034.00₹540.00₹2,832.654
Aug ’24₹842.00
₹657.75
-21.9%
12.6%₹746.00₹540.00₹2,643.254
Jul ’24₹608.55
₹563.33
-7.4%
4.7%₹600.00₹540.00₹2,574.103
Jun ’24₹570.70
₹563.33
-1.3%
4.7%₹600.00₹540.00₹2,693.853
May ’24₹522.90
₹531.67
+1.7%
7.4%₹575.00₹480.00₹2,790.153
Apr ’24₹430.95
₹551.67
+28.0%
3.0%₹575.00₹540.00₹2,709.903
Mar ’24₹444.60
₹573.75
+29.0%
7.1%₹640.00₹540.00₹2,336.454
Feb ’24₹503.70
₹605.00
+20.1%
4.4%₹640.00₹575.00₹2,493.453
Jan ’24₹544.90
₹618.33
+13.5%
5.0%₹640.00₹575.00₹2,203.053
Dec ’23₹577.80
₹618.33
+7.0%
5.0%₹640.00₹575.00₹2,498.653

Analyst Forecast: Target price is lower than the current share price.

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