BSE Shares Decline 17% After Sebi Order; Biggest Single-Day Decline Since Listing
BSE Ltd's share price on Monday declines over 17 per cent after a SEBI order; this marks the biggest single-day fall since listing
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BSE Ltd's share price on Monday declines over 17 per cent after a SEBI order; this marks the biggest single-day fall since listing
"There are still areas that look good value, but generally, it's outside of the U.S.," says Steven Glass of Pella Funds Management.
Sensex rose 363 points while the Nifty closed at 22,462. Buying was seen in realty, metal, telecom and utilities while auto and consumer durables stock saw some selling pressure.
The BSE stock is up 86 per cent in the last six months, led by market share gains, and it is currently trading at a PE of 38 times its FY25 and 30 times its FY26 earnings per share against a 5-year average 1 year forward PE of 21 times.
JPMorgan maintained an overweight rating on Tata Motors with a target price of Rs 925. JLR wholesales improved, and the mix remains strong.