BSELINFRA

** Shares of stock exchange operator BSE BSEL.NS close 3.47% lower at 4,299 rupees

** Stock downfall came in after competitor NSE NSEI.NS revises its derivatives weekly and monthly expiry day to Monday from Thursday, effective from April 3

** This change will position NSE derivatives expiry right ahead of BSE's expiry on Tuesday

** If BSE does not move expiry days, its market share in index options premium could fall, while revenue may drop by 8%-12% and earnings are likely to decline by 10%-15%, Jefferies says

** Brokerage adds that the damage can be limited if BSE moves its expiry day to Thursday

** Over past 10 days, BSEL has lost ~20% due to concerns that the market regulator's proposal to bring down market volatility doesn't bode well for the stock

** BSEL shares down 16.3% in 2025 so far, against benchmark Nifty 50's .NSEI 5.9% drop, as per data compiled by LSEG

(Reporting by Ananta Agarwal in Bengaluru)

(([email protected]))

** Shares of Indian exchange operator BSE BSEL.NS up 7.2% at 2,179.1 rupees, best intra-day pct gain since Feb 1

** Investec upgraded stock to "buy" from "hold" on bets of market share gains, strong derivative volumes

** Brokerage expects improved margin profile for co in Q4, cites potential to achieve a 45-50% EPS CAGR (FY24-26) and strong cash flow

** Investec keeps PT at 2,800 rupees

** BSEL rated "buy" with median PT at 2,762.50 rupees - LSEG data

** Brokerage says recent 20% correction from a peak in Feb is good time to buy BSEL

** Stock is down 2% YTD after surging four-fold in 2023

(Reporting by Sethuraman NR)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

** Shares of BSE BSEL.NS up 3.6% at 2,226.85 rupees; on track to snap three straight sessions of losses, if gains hold

** Jefferies says NSE's transaction charge cut by 1% on cash, derivatives is part of a periodic exercise, and smaller quantum signals limited appetite to engage in price wars

** Brokerage says BSEL's product pricing and plans to monetise new products will likely be unaffected; projects about 2.6x jump in earnings through FY24-26, while retaining "buy" rating, TP at 3,000 rupees

** Avg rating of 6 analysts is "buy," median PT is 2,762.50 rupees - LSEG

** BSEL down ~1% YTD; stock up 4x in 2023

(Reporting by Rama Venkat in Bengaluru)

(([email protected]; https://twitter.com/ramavenkat0607;))