BSE Ltd · BSE
—
—
—
—
₹208 Cr
₹239 Cr
₹259 Cr
₹260 Cr
₹362 Cr
₹426 Cr
₹539 Cr
₹602 Cr
₹813 Cr
₹768 Cr
₹847 Cr
₹958 Cr
₹1.1K Cr
₹1.2K Cr
₹1.6K Cr
—
20-quarter listed-company comparison
Exchanges Stocks in India
Exchanges: BSE Ltd owns the largest revenue base; Multi Commodity Exchange of India Ltd has the fastest current growth.
01 · the index people search for
Nifty Exchanges Index — Constituents & Performance
The Exchanges companies below are the listed Indian Exchanges universe this page tracks — the same constituent set people search for as the Nifty Exchanges index. Every figure is equal-weighted across those companies, so one large constituent cannot set the reading. Each number carries its own as-of date.
02 · the sector itself · before any single company
How has Exchanges moved against NIFTY 500?
The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this sector is 122% ahead of NIFTY 500. Earnings across its companies grew 109% on average over the last four reported quarters.
FADING · −2 in 4w✓Price and the fundamentals both up0 of 3 companies ahead of NIFTY 500 by 5% or more over three months
RS — · 3/3 >200d (+1) · 0/3 lead (−2) · EPS 3/3↑
Exchanges, equal-weighted, based at 200
NIFTY 500, same base, same start
trailing 12-month earnings per share rising
falling
Exchanges, equal-weighted, based at 200
NIFTY 500, same base, same start
trailing 12-month earnings per share rising
falling
Exchanges, equal-weighted, based at 200
NIFTY 500, same base, same start
trailing 12-month earnings per share rising
falling
Both lines start at 200 in the same week, so the distance between them is the whole story: the sector line is an equal-weighted index of its 3 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the sector taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.
03 · sector relative strength, before individual stocks
Is Exchanges outperforming NIFTY 500?
Exchanges has outperformed NIFTY 500 by 41% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 2.3%. 2 of 3 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is broad. BSE Ltd is the strongest against the sector itself at +5.7%.
-2.3%Sector vs NIFTY 500 · 13 weeks
+41.0%Sector vs NIFTY 500 · 52 weeks
2/3Stocks leading NIFTY 500
2/3Stocks leading sector
Sector metric: — as of latest available · unclassified · direction unavailable.
The central tension: the companies with the most scale are not necessarily the companies creating the most change.
Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.
Bottom line
Exchanges has outperformed NIFTY 500 by 41% over 52 weeks and 2.3% over 13 weeks. 2 of 3 covered companies beat NIFTY on Mansfield relative strength, while 2 of 3 beat the sector itself. BSE Ltd leads with revenue of ₹4,834 crore, based on 3 of 3 comparable companies through Mar 2026.
Companies
3
complete canonical membership
Combined market value
₹2.3 L Cr
BSE Ltd
Revenue growing
3/3
positive TTM year-on-year growth
Beating NIFTY 500
2/3
positive Mansfield relative strength
Comparing 3 of 3
04 · research priority, made explicit
4-Factor Sector Score
An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.
Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
BSE Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 75.1% evidence confidence.
How this score is built, and what the marks mean
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1BSE LtdBSE | 78.1/100Favorable setup75% evidence | FADING | 32.1/35 Revenue 59.5% · PAT 88% · OPM change 10 pp 83% evidence | 22.0/25 ROCE 60% · OPM 67% 76% evidence | 8.5/20 P/E 58.1× · PEG — 35% evidence | 15.5/20 RS sector 5.7% · RS bench 20% · 1Y 48.6%9 of 12 weeks ahead 100% evidence |
| Exact sum: 32.1 + 22 + 8.5 + 15.5 = 78.1 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 2Multi Commodity Exchange of India LtdMCX | 71.9/100Favorable setup75% evidence | FADING | 31.3/35 Revenue 100% · PAT 100% · OPM change 20 pp 83% evidence | 20.9/25 ROCE 71.4% · OPM 75% 76% evidence | 9.0/20 P/E 51.6× · PEG — 35% evidence | 10.7/20 RS sector 1.4% · RS bench 14.8% · 1Y 67.4%7 of 12 weeks ahead 100% evidence |
| Exact sum: 31.3 + 20.9 + 9 + 10.7 = 71.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 3Indian Energy Exchange LtdIEX | 58.6/100Mixed-positive evidence73% evidence | TURNING | 18.3/35 Revenue 13.9% · PAT 11.9% · OPM change 2 pp 95% evidence | 22.0/25 ROCE 51.4% · OPM 83% 76% evidence | 13.5/20 P/E 23.3× · PEG — 35% evidence | 4.8/20 RS sector -28.8% · RS bench -1.4% · 1Y -8.8%0 of 10 weeks ahead 70% evidence |
| Exact sum: 18.3 + 22 + 13.5 + 4.8 = 58.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
05 · what price has already done
Market action
Multi Commodity Exchange of India Ltd has the strongest one-year price move in Exchanges at +67.4%. BSE Ltd leads on Mansfield relative strength against NIFTY at +20%. 2 of 3 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-31.
Price and relative strength
Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts — the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.
How far ahead of or behind NIFTY 500 each company has been running, measured against its own recent average of that comparison, so the flat line at zero IS NIFTY 500: above it the company is beating the market, below it the market is beating the company. It opens on one year.
The same measure taken against Exchanges itself instead of the whole market, so the flat line at zero is the sector: above it the company is beating its own peers, which is the sharper test of the two. It opens on one year.
06 · compare level, then change
Revenue Scale & Growth Durability
BSE Ltd has the highest Revenue among the 3 Exchanges companies compared here, at ₹4,834 crore. Multi Commodity Exchange of India Ltd is next at ₹2,302 crore. Multi Commodity Exchange of India Ltd has the highest Revenue growth at the 100% top of the scoring scale, so level and change sit with different companies.
What the numbers say: BSE Ltd is the scale leader at ₹4,834 crore, 110% ahead of Multi Commodity Exchange of India Ltd. Multi Commodity Exchange of India Ltd's growth is stored at the ≥100% scoring cap; the uncapped TTM change is 107% from a ₹2,302 crore base, with 14 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.
LeaderBSE Ltd · ₹4,834 crore
Gap110% versus #2 · Multi Commodity Exchange of India Ltd
Persistence8/8 recent comparable periods
Coverage3/3 companies · 44 observations
Investor read: BSE Ltd is the scale benchmark; Multi Commodity Exchange of India Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.
This conclusion weakens if: BSE Ltd's growth falls below Multi Commodity Exchange of India Ltd's for two consecutive comparable reports while operating margin also compresses.
Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.
Revenuelargest
Revenue growthfastest growers
Revenue · company comparison
3/3 level · 3/3 change
On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.
All-company data · latest reported quarter
In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Revenue | Revenue growth | Reported |
|---|---|---|---|
| BSE Ltd BSE | ₹1.6K Cr | 85% | Mar 2026 |
| Multi Commodity Exchange of India Ltd MCX | ₹889 Cr | 206% | Mar 2026 |
| Indian Energy Exchange Ltd IEX | ₹158 Cr | 11% | Jun 2026 |
Full 20-quarter history · every available company
Revenue · reported quarter history
Indian Energy Exchange Ltd · IEX
—
—
—
—
—
₹100 Cr
₹107 Cr
₹104 Cr
₹109 Cr
₹115 Cr
₹121 Cr
₹124 Cr
₹139 Cr
₹132 Cr
₹142 Cr
₹142 Cr
₹154 Cr
₹146 Cr
₹174 Cr
₹158 Cr
Multi Commodity Exchange of India Ltd · MCX
—
—
—
—
—
₹144 Cr
₹134 Cr
₹146 Cr
₹165 Cr
₹192 Cr
₹181 Cr
₹234 Cr
₹286 Cr
₹301 Cr
₹291 Cr
₹373 Cr
₹374 Cr
₹666 Cr
₹889 Cr
—
Revenue growth · reported quarter history
BSE Ltd · BSE
—
—
—
—
—
—
—
—
74%
78%
108%
132%
125%
80%
57%
59%
31%
62%
85%
—
Indian Energy Exchange Ltd · IEX
—
—
—
—
—
—
—
—
—
15%
13%
19%
28%
15%
17%
15%
11%
11%
23%
11%
Multi Commodity Exchange of India Ltd · MCX
—
—
—
—
—
—
—
—
—
33%
35%
60%
73%
57%
61%
59%
31%
121%
206%
—
07 · compare level, then change
Operating Economics & Margin Trend
Indian Energy Exchange Ltd has the highest OPM among the 3 Exchanges companies compared here, at 83%. Multi Commodity Exchange of India Ltd is next at 75%. Multi Commodity Exchange of India Ltd has the highest Margin change at +20 percentage points, so level and change sit with different companies.
What the numbers say: Indian Energy Exchange Ltd leads opm at 83%; Multi Commodity Exchange of India Ltd leads margin change at +20 percentage points.
LeaderIndian Energy Exchange Ltd · 83%
Gap10.7% versus #2 · Multi Commodity Exchange of India Ltd
Persistence5/8 recent comparable periods
Coverage3/3 companies · 58 observations
Investor read: Indian Energy Exchange Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current margin change signal.
Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.
OPMhighest
Margin changefastest expanders
Operating margin · company comparison
3/3 level · 3/3 change
All-company data · latest reported quarter
| Company | OPM | Margin change | Reported |
|---|---|---|---|
| Indian Energy Exchange Ltd IEX | 83% | +2.0 pp | Jun 2026 |
| Multi Commodity Exchange of India Ltd MCX | 75% | +20.0 pp | Mar 2026 |
| BSE Ltd BSE | 67% | +10.0 pp | Mar 2026 |
Full 20-quarter history · every available company
OPM · reported quarter history
BSE Ltd · BSE
38%
37%
37%
29%
39%
31%
49%
44%
52%
34%
28%
47%
56%
31%
57%
65%
64%
59%
67%
—
Indian Energy Exchange Ltd · IEX
86%
84%
85%
82%
83%
83%
87%
78%
85%
86%
86%
80%
86%
86%
85%
81%
87%
84%
86%
83%
Multi Commodity Exchange of India Ltd · MCX
40%
42%
50%
45%
50%
22%
-0.1%
6.0%
-18%
-11%
56%
57%
63%
64%
55%
65%
65%
74%
75%
—
Margin change · reported quarter history
BSE Ltd · BSE
+13.1 pp
+11.7 pp
+6.6 pp
−6.8 pp
+0.8 pp
−5.6 pp
+11.9 pp
+15.1 pp
+13.0 pp
+3.0 pp
−21.0 pp
+3.0 pp
+4.0 pp
−3.0 pp
+29.0 pp
+18.0 pp
+8.0 pp
+28.0 pp
+10.0 pp
—
Indian Energy Exchange Ltd · IEX
+7.9 pp
+2.4 pp
+2.2 pp
+0.1 pp
−3.2 pp
−1.1 pp
+2.3 pp
−4.4 pp
+2.1 pp
+3.0 pp
−1.0 pp
+2.0 pp
+1.0 pp
0.0 pp
−1.0 pp
+1.0 pp
+1.0 pp
−2.0 pp
+1.0 pp
+2.0 pp
Multi Commodity Exchange of India Ltd · MCX
−14.9 pp
−6.1 pp
+4.3 pp
+2.7 pp
+10.5 pp
−20.1 pp
−50.0 pp
−38.7 pp
−68.4 pp
−33.0 pp
+56.1 pp
+51.0 pp
+81.0 pp
+75.0 pp
−1.0 pp
+8.0 pp
+2.0 pp
+10.0 pp
+20.0 pp
—
08 · compare level, then change
Profit Scale & Acceleration
BSE Ltd has the highest Net profit among the 3 Exchanges companies compared here, at ₹2,487 crore. Multi Commodity Exchange of India Ltd is next at ₹1,331 crore. Multi Commodity Exchange of India Ltd has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.
What the numbers say: BSE Ltd leads with ₹2,487 crore of TTM profit, 86.9% above Multi Commodity Exchange of India Ltd. Multi Commodity Exchange of India Ltd shows ≥100% on the scoring scale (137.7% uncapped) growth from a ₹1,331 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.
LeaderBSE Ltd · ₹2,487 crore
Gap86.9% versus #2 · Multi Commodity Exchange of India Ltd
Persistence7/8 recent comparable periods
Coverage3/3 companies · 44 observations
Investor read: BSE Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.
Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.
Net profitlargest
Profit growthfastest growers
Net profit · company comparison
3/3 level · 3/3 change
All-company data · latest reported quarter
| Company | Net profit | Profit growth | Reported |
|---|---|---|---|
| BSE Ltd BSE | ₹795 Cr | 61% | Mar 2026 |
| Multi Commodity Exchange of India Ltd MCX | ₹530 Cr | 293% | Mar 2026 |
| Indian Energy Exchange Ltd IEX | ₹135 Cr | 12% | Jun 2026 |
Full 20-quarter history · every available company
Net profit · reported quarter history
BSE Ltd · BSE
—
—
—
—
₹56 Cr
₹48 Cr
₹89 Cr
₹440 Cr
₹118 Cr
₹106 Cr
₹107 Cr
₹264 Cr
₹346 Cr
₹219 Cr
₹494 Cr
₹538 Cr
₹557 Cr
₹597 Cr
₹795 Cr
—
Indian Energy Exchange Ltd · IEX
—
—
—
—
—
₹77 Cr
₹88 Cr
₹76 Cr
₹86 Cr
₹92 Cr
₹97 Cr
₹96 Cr
₹108 Cr
₹107 Cr
₹117 Cr
₹121 Cr
₹123 Cr
₹119 Cr
₹130 Cr
₹135 Cr
Multi Commodity Exchange of India Ltd · MCX
—
—
—
—
—
₹39 Cr
₹5 Cr
₹20 Cr
₹-19 Cr
₹-5 Cr
₹88 Cr
₹111 Cr
₹154 Cr
₹160 Cr
₹135 Cr
₹203 Cr
₹197 Cr
₹401 Cr
₹530 Cr
—
Profit growth · reported quarter history
BSE Ltd · BSE
—
—
—
—
—
—
—
—
111%
121%
20%
-40%
193%
107%
362%
104%
61%
173%
61%
—
Indian Energy Exchange Ltd · IEX
—
—
—
—
—
—
—
—
—
19%
10%
26%
26%
16%
21%
26%
14%
11%
11%
12%
Multi Commodity Exchange of India Ltd · MCX
—
—
—
—
—
—
—
—
—
-113%
1,660%
455%
—
—
53%
83%
28%
151%
293%
—
09 · compare level, then change
Return On Capital Employed
Multi Commodity Exchange of India Ltd has the highest ROCE among the 3 Exchanges companies compared here, at 71.4%. BSE Ltd is next at 60%. The same company also holds the highest ROCE change, at +28 percentage points. 3 of 3 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Multi Commodity Exchange of India Ltd leads ROCE at 71.4%, 11.4 percentage points above BSE Ltd. Multi Commodity Exchange of India Ltd has the strongest latest improvement at +28 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.
LeaderMulti Commodity Exchange of India Ltd · 71.4%
Gap19% versus #2 · BSE Ltd
PersistenceNot enough history
Coverage3/3 companies · 0 observations
Investor read: Multi Commodity Exchange of India Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current roce change signal.
ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.
ROCEhighest
ROCE changefastest improvers
Return on capital · company comparison
3/3 level · 3/3 change
Withheld from this chart: BSE Ltd (BSE) — its two data sources disagree by up to 39% on reported income across 14 comparable periods, so its derived ratios are withheld; Multi Commodity Exchange of India Ltd (MCX) — its two data sources disagree by up to 14% on reported income across 14 comparable periods, so its derived ratios are withheld; Indian Energy Exchange Ltd (IEX) — its two data sources disagree by up to 29% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.
All-company data · latest reported quarter
| Company | ROCE | ROCE change | Reported |
|---|---|---|---|
| Multi Commodity Exchange of India Ltd MCX | 71% | +28.0 pp | Mar 2026 |
| BSE Ltd BSE | 60% | +13.0 pp | Mar 2026 |
| Indian Energy Exchange Ltd IEX | 51% | −2.0 pp | Jun 2026 |
Full 20-quarter history · every available company
No consistent historical series is available for roce.
No consistent historical series is available for roce change.
10 · compare level, then change
Valuation Against Growth & Quality
No company in this Exchanges comparison reports a valuation figure this section can compare, so the PEG rank is empty. On P/E, Indian Energy Exchange Ltd is lowest at 23.3×, across 3 of 3 companies with a usable reading. PEG asks what price is being paid for growth; P/E keeps that answer anchored to the actual earnings multiple.
What the numbers say: There is not enough comparable evidence to name a reliable peg leader.
LeaderNo comparable leader
GapNot enough peers
PersistenceNot enough history
Coverage0/3 companies · 0 observations
Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.
This conclusion weakens if: The next two comparable reports reverse the current p/e signal.
PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.
PEGlowest PEG
—Not enough comparable data—
P/Elowest P/E
Valuation · company comparison
0/3 level · 3/3 change
All-company data · latest reported quarter
| Company | PEG | P/E | Reported |
|---|---|---|---|
| BSE Ltd BSE | — | 51.8 | Mar 2026 |
| Multi Commodity Exchange of India Ltd MCX | — | 65.3 | Mar 2026 |
| Indian Energy Exchange Ltd IEX | — | 22.6 | Jun 2026 |
Full 20-quarter history · every available company
No consistent historical series is available for peg.
P/E · reported quarter history
BSE Ltd · BSE
29.4
47.1
56.4
31.6
33.4
34.5
28.6
37.4
64.5
83.8
81.9
65.5
82.5
86.7
79.4
85.3
52.3
59.9
51.8
—
Indian Energy Exchange Ltd · IEX
78.2
87.2
72.9
51.4
41.0
41.3
38.2
37.3
37.9
45.8
35.0
45.9
49.5
41.0
38.4
39.4
27.1
25.8
22.1
22.6
Multi Commodity Exchange of India Ltd · MCX
40.6
44.2
50.6
40.7
38.5
41.2
39.3
51.4
82.2
102.0
—
240.7
166.8
93.2
52.9
80.7
61.9
81.0
65.3
—
11 · before the conclusion, check the blind spots
What can make this comparison misleading?
This Exchanges comparison names 6 specific ways its own evidence can mislead, all listed below. All 3 companies here report on comparable dates, so no rank carries a stale marker. 3 have second-feed figures withheld because the two sources disagree. 1 of the 5 ranked sections has fewer than three usable current readings.
Keep these limits visible
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- 3 companies are missing from the second-feed metrics by decision, not by absence: the two sources disagree, so nothing from the second is drawn. Read those rows as narrower evidence, never as a weaker business.
- Thin comparisons: Valuation have fewer than three usable current readings.
12 · evidence and freshness
How was this comparison built?
This comparison is built from the reported filings of 3 Exchanges companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-07-31. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.
FundamentalsThrough Jun 2026 · up to 20 quarters per company
Market dataThrough 2026-07-31 · weekly price and relative-strength history
Derived metricsGrowth, changes and PEG are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
Source standing0 cross-checked · 0 unverified · 3 withheld, of 3 graded companies.
How a second data feed is admitted, and what happens when it disagrees
A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from.
13 · questions investors ask, short speakable answers
Exchanges company comparison FAQs
These 21 answers restate the Exchanges comparison above in question form. Every one is computed from the same 3 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-07-31. Nothing here is estimated, and none of it is a recommendation.
Is the Exchanges sector outperforming NIFTY 500?
Exchanges has outperformed NIFTY 500 by 41% over 52 weeks and 2.3% over 13 weeks. 2 of 3 covered companies beat NIFTY on Mansfield relative strength, while 2 of 3 beat the sector itself.
Which Exchanges company is largest by revenue?
BSE Ltd leads with revenue of ₹4,834 crore, based on 3 of 3 comparable companies through Mar 2026.
Which Exchanges company is growing fastest?
Multi Commodity Exchange of India Ltd has the fastest current revenue growth at 100%, across 3 of 3 comparable companies.
Which Exchanges company has the strongest 4-Factor Sector Score?
BSE Ltd ranks first at 78.1/100 with 75.1% evidence confidence. The score prioritizes research; it is not a buy recommendation.
How much history does this Exchanges comparison include?
The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.
How is the 4-Factor Sector Score calculated?
The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.
What is the Nifty Exchanges index?
The Nifty Exchanges index tracks India's listed Exchanges companies as a single basket. This page follows the same 3 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Exchanges sector rather than to its largest constituent. Figures are as of Jun 2026.
Which are the best Exchanges stocks in India?
Ranked by this page's four-factor score, BSE Ltd places first among 3 listed Exchanges companies, followed by Multi Commodity Exchange of India Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.
How many Exchanges stocks are listed in India?
This comparison covers 3 listed Exchanges companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.
Which Exchanges company is the biggest?
BSE Ltd is the largest, with trailing-twelve-month revenue of ₹4,834 crore, ahead of Multi Commodity Exchange of India Ltd at ₹2,302 crore. That covers 3 of 3 companies with comparable reporting through Mar 2026.
Which Exchanges company has the best profit margins?
Indian Energy Exchange Ltd has the highest operating margin at 83%, from 3 of 3 comparable companies. Multi Commodity Exchange of India Ltd shows the biggest recent improvement, at +20 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.
Which Exchanges company makes the most profit?
BSE Ltd earns the most, at ₹2,487 crore of trailing-twelve-month net profit, from 3 of 3 comparable companies. Multi Commodity Exchange of India Ltd has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.
Which Exchanges company earns the highest return on capital?
Multi Commodity Exchange of India Ltd leads on return on capital employed at 71.4%, across 3 of 3 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.
Is the Exchanges sector beating the market?
Exchanges has outperformed NIFTY 500 by 41% over the last 52 weeks and 2.3% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 2 of 3 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.
Which Exchanges stock has the strongest price momentum?
BSE Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.
Which Exchanges company scores highest for research priority?
BSE Ltd scores 78.1 out of 100 with 75.1% evidence confidence, from 32.1 points on growth and earnings, 22 on capital efficiency, 8.5 on valuation and 15.5 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.
How many Exchanges companies does this comparison cover, and over what period?
It compares 3 listed companies over up to 20 reported quarters of fundamentals, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.
What is the total market cap of the Exchanges sector?
The 3 Exchanges companies on this page carry ₹2,28,950 crore of combined market value. BSE Ltd is the largest at ₹1,48,509 crore, about 65% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-05.
How is the Exchanges sector performing?
2 of the 3 covered Exchanges companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 41% ahead of NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-05.
Why are some values on this page blank?
A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.
Is this investment advice?
No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.