“Bullish on the National Stock Exchange (NSE) ahead of its IPO, citing it as having one of the strongest business models globally. Key positives include leadership across trading segments, a growing technology business, a healthy balance sheet, and resilient earnings, with derivatives now contributing 70% of operating revenues. Significant growth headroom exists in options premium volumes, currently one-fifth of US levels.”

Jefferies Analysis’s track record: 3 graded calls · 95% CI 44–100%