Morgan Stanley and JPMorgan Initiate Coverage on NSE With Overweight Ratings

Global brokerages Morgan Stanley and JPMorgan initiated coverage on the National Stock Exchange of India with Overweight ratings, citing long-term capital market expansion.

Morgan Stanley set a price target of ₹2,315 per share implying a 30% upside, while JPMorgan set a target of ₹2,130 indicating a 20% potential upside.

Both brokerages noted that only a small fraction of India's working-age population trades in cash or derivatives, highlighting vast room for future financialisation growth.