During Thursday’s trading session, the shares of a technology-driven financial services provider nearly 5.1 percent to Rs. 325 on BSE, following the announcement of a strategic investment of ~Rs. 60 crores in the Metropolitan Stock Exchange (MSE), representing a key milestone in the market expansion.
With a market cap of Rs. 6,964 crores, at 03:01 p.m., the shares of Share India Securities Limited were trading in the green at Rs. 321.5, up by around 4 percent, as against its previous closing price of Rs. 309.3.
What’s the News:
As per the latest regulatory filings with the stock exchanges, Share India Securities Limited has announced its strategic decision to invest Rs. 59.5 crore in the Metropolitan Stock Exchange of India Limited (MSE).
This investment involves the acquisition of 29.75 crore equity shares, representing 4.958% of the post-issue paid-up share capital of MSE, and will be completed within 60 working days from the date of this media release.
“This investment not only extends our market reach but also solidifies our leadership position within the industry. We strongly believe that this move significantly enhances our market presence, reinforcing our position as a key driver of growth and innovation in the industry,” stated the company’s CEO & Whole-time Director.
About MSE:
Metropolitan Stock Exchange of India Limited (MSE) is recognized by the Securities and Exchange Board of India (SEBI) as a stock exchange.
MSE is engaged in the business of providing an advanced, electronic, and transparent trading platform for multiple segments, including capital market, futures & options, currency derivatives, and debt market.
Additionally, the Exchange has received in-principle approval from SEBI to operationalize an SME trading platform.
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Financials:
Share India Securities reported a significant growth in revenue from operations, experiencing a year-on-year increase of nearly 24 percent, rising from Rs. 366.5 crores in Q2 FY24 to Rs. 452.7 crores in Q2 FY25.
Similarly, the company’s net profit increased from Rs. 112.7 crores to Rs. 124.2 crores over the same period, representing a slight growth of around 10.3 percent YoY.
Stock Performance:
The stock has delivered negative returns of nearly 11 percent in one year, while around 5.2 percent of positive returns in the last six months. So far in 2024, the share of Share India Securities has given negative returns of about 12 percent.
About the Company:
Incorporated in 1994, Share India Securities Limited is engaged in the business of share and stock broking, commodity derivatives broking, equity derivatives broking, currency derivatives broking, portfolio management, research analysis, mutual funds distribution, and to invest, buy, sell or otherwise deal in all kind of securities and other related activities.
Further, the company also provides Investment Advisory services, along with facilitating trade on its online technology platform, which encompasses various algo-based strategies to choose and execute, through its web-based trading terminal, mobile application and trade unit.
Written by Shivani Singh
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