NSE share price today: Shares of National Stock Exchange of India Limited, or NSE, surged nearly 4% after listing at a 0.8% premium over the issue price of ₹1,785 per share on Thursday, September 24.
NSE’s market dominance in cash and futures is likely to continue with sustained valuation supported by healthy profit and optionality from new derivative products, according to PL Capital. The brokerage initiated ‘Accumulate’ rating for the stock as valuation largely captures the premium.
With the listing, NSE has even emerged as one of the top 10 companies on the BSE with highest market capitalisation.
NSE share price outlook
NSE dominates the Indian exchanges with a near-monopoly in cash equities and future trading volumes. Strong liquidity, robust technology and a comprehensive product site are among the key factors that are likely to support NSE’s strong performance.
“We expect EBITDA margin to recover to 76% by FY29E (vs. 71% in FY26) as one-offs get adjusted, in-line with PAT CAGR of 11%. NSE’s IPO values it at INR4.4trn, with P/E of 32x on FY29E earnings. We believe the valuation largely captures the premium,” noted PL Capital in its report.
CAS introduction shrinks overall industry volume
Despite its near-monopoly in cash equities and future trading volumes, NSE’s share has eroded from 97% in FY24 to 72% in FY26 in the index option. It has declined to 65% in FY27 so far. Additionally, regulatory curbs on weekly expiries, introduction of Closing Auction Session (CAS) and prop trading rules have shrunk overall industry volumes, and may result in lower growth over FY26-29E.
NSE share price target
NSE valuation is likely to sustain at these levels, supported by structural factors like near-dominance in key segments with high entry barriers, healthy profit growth, and optionality from new derivative products/colocation revenue, according to PL Capital. The brokerage gave an ‘Accumulate’ rating for the stock with a target price of ₹1950 per share.
“We initiate coverage on NSE with ‘Accumulate’ rating and TP of INR1,950 (35x FY29E P/E). NSE dominates the exchange landscape with over ~93% share in cash market and ~100% in stock and index futures (YTDFY27), supported by strong liquidity, robust technology and a comprehensive product suite.”
NSE share price today
NSE share price today was trading 3% higher at ₹1854.20 per share on BSE with a market capitalisation of ₹4,58,889.75 crore at 11:20 am. The stock listed at 0.84% premium over the IPO issue price of ₹1785 apiece. Post IPO listing, National Stock Exchange share price jumped 4% to an intraday high of ₹1,878 per share.
Disclaimer: This story is for educational and informational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified financial experts before making any investment decisions.
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