Jefferies downgrades BSE to “underperform” and cuts its price target by 16%, to Rs 2,940, citing a “triple whammy” of regulatory and market factors. The firm points to changes linked to STT (securities transaction tax), RBI norms, and CAS (cash and securities or similar cash-and-assets-related impacts), and says these could weigh on near-term performance.
Jefferies also flags weakening options volumes as a further pressure point. It suggests a broader stock trading range of Rs 2,600 to Rs 3,420, implying limited upside under the current conditions. Other outlets report the downgrade and revised target, but do not provide additional new company-specific developments beyond the broker’s assessment.
