Morgan Stanley starts NSE coverage with overweight, Rs 2,315 target
In short
Morgan Stanley started coverage of NSE with an overweight rating and a price target of Rs 2,315. It said NSE has a strong market position and good liquidity.
The broker expects revenue and normalised profit to rise 15% a year from FY27 to FY29. It also warned that regulation and losing market share could hurt the stock.
What the reporting says
Morgan Stanley initiated coverage of NSE with an overweight rating and a price target of Rs 2,315, citing dominant market share, strong liquidity and India’s underpenetrated capital markets. The brokerage also expects revenue and normalised profit to grow 15% annually between FY27 and FY29. The report flags regulatory changes and market-share losses as risks, but the available summary does not say how NSE shares are trading now.
Why it matters
The report is a broker initiation on NSE, with Morgan Stanley assigning an overweight rating and a Rs 2,315 target price. It cites NSE’s dominant market share, strong liquidity and India’s underpenetrated capital markets, while projecting 15% annual growth in revenue and normalised profit for FY27-FY29. Risks named in the summary are regulatory changes and market-share losses; current trading levels are not stated.