PL Alpha Call: Buy BSE 585 SL 550 Target 700+ Microsoft Corp | DM Stocks

PL Alpha Call: Buy BSE 585 SL 550 Target 700+

Microsoft Corp. agreed to buy a 4% stake in London Stock Exchange Group Plc in a $2.8 billion cloud-computing deal that pushes big tech further into financial markets. As a part of the agreement, LSEG said it will spend at least that amount on cloud services with Microsoft over the next 10 years. The partnership will speed up the migration of its markets to the cloud and allow it to develop new products and services.

BSE Limited has appointed Mr. Sundararaman Ramamurthy as the New MD & CEO which gives a new lease of light to BSE.

Work Experience: He has ~38 years of experience in financial markets. Worked at Bank of America Securities India as a COO for 8 years. Associated with NSE for 20 years. At NSE, Mr. S Ramamurthy spearheaded various assignments from product development to clearing and settlement of transactions, and his contribution to indices Nifty Bank and Nifty CPSE is well recognized.

BSE Limited’s current market cap is around ~INR 7.8K crs. It has cash & cash equivalents ~INR 2.2K crs. as on Mar’22 and it’s stake in CDSL at current market price valued at ~INR 2.6K crs. So, core exchange business value comes around ~INR 3K crs. which includes many business platforms like Staf MF, India INX, Insurance Broking, Power Exchange, Electronic Gold Receipt etc. over & above traditional businesses of charges from Equity Cash, Equity Derivatives, Currency Derivatives, Listing fees etc.