New Delhi, March 10 -- The share price of BSE Ltd fell over 4 per cent on Monday's trading session after brokerage firm Nuvama Institutional Equities cut its target price by nearly 28 per cent.

At 12:42 pm, BSE stock was trading 3.76 per cent lower to Rs.4,025 apiece on March 10. The stock has plunged over 10 per cent in the last five trading sessions.

The brokerage firm cut the target price of BSE citing concerns that the stock exchange's market share could decline in the future.

"Given heightened competitive intensity, uncertainty on incremental regulatory changes and reduced EPS estimates, we are cutting the target PE to 40 times (from 50 times), yielding a revised target of Rs.5,160 (earlier Rs.7,250); retain 'BUY'," Nuvama said. ...