India, Oct. 28 -- Shares of one of India's leading stock exchanges offering trading in equities, derivatives, currencies and other financial instruments are in focus after Motilal Oswal Financial Services upgraded its rating to 'Buy' with a target price of Rs. 4,000. The company has a market capitalisation of Rs. 1,40,773 crore, with its shares currently trading at Rs. 3,451 apiece, with an upside of 16%.

The positive view comes amid a recovery in derivatives turnover, improving cash-market share and expectations of regulatory changes supporting trading activity. The brokerage also expects operating margins and profitability to improve as higher volumes flow through BSE's exchange platform. However, the sustainability of the recovery an...