International brokerage firm Bernstein has initiated coverage on BSE and MCX, taking a more favourable view on the commodity exchange while turning cautious on BSE as equity derivatives volumes moderate and the impact of the closing auction session becomes clearer.
Bernstein has initiated coverage on BSE with an Underperform rating and a target price of Rs 2,820, implying a downside potential of up to 17% from the stock’s last closing price of Rs 3,394. In contrast, the brokerage has assigned an Outperform rating to MCX with a target price of Rs 3,830, indicating 15% upside from current levels.
