Shares of the Bombay Stock Exchange (BSE) experienced a significant decline of up to 18% on Monday, marking the biggest single-day drop since its listing in 2017.
The stock came under scrutiny following a directive to pay regulatory fees to market regulator SEBI based on the annual turnover calculated from the ‘notional value’ of its options contracts.
BSE had computed the annual turnover using the premium value for options contracts, leading to an obligation to pay the differential regulatory fee for previous periods along with accrued interest.
As per the directive, BSE is required to pay a differential fee amounting to Rs 165 crore. This includes Rs 69 crore for the financial years 2007 to 2023, and Rs 96 crore for the financial year 2024.
Additionally, BSE’s peer company, MCX, has also been instructed to pay a differential fee of Rs 4.43 crore.
Whereas the BSE in the latest exchange filings says that if it is ascertained that the said amount is payable, then the total differential SEBI regulatory fees for the past periods i.e. from FY 2006-07 to FY 2022-23, would be approx. Rs 68.64 crore plus GST which includes interest of Rs 30.34 crore.
“The due date for payment of SEBI regulatory fee for FY 2023-24 is 30th April 2024, amount payable as per premium (turnover) is approx. Rs 1.66 crore plus GST, which has been paid by the Company. The differential SEBI regulatory fees for the year, if liable, could be around Rs 96.30 crore plus GST,” said BSE.
Stock performance in last one year
In terms of stock performance, BSE shares have demonstrated mostly positive returns across multiple time frames. Over the past month, the stock has given a commendable 1% return, showcasing its stability and growth potential. The last six months have seen even more impressive results, with a substantial increase of 42.16%, indicating a strong upward trend.
Year-to-date, BSE shares have surged by 22.46%, reinforcing the stock’s positive momentum in the current fiscal year. Looking at the broader picture, the stock has delivered an impressive return of over 411.63% in the last twelve months, emphasizing its sustained growth and attractiveness to investors.
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