Ahead of ₹30,000-crore IPO, NSE's FY26 earnings serve up a reality check

NSE reported a sharp 16 percent decline in FY26 net profit along with shrinking margins, highlighting pressure on its core business. The weakness is attributed to Sebi's derivatives crackdown and legacy legal settlements. The earnings stumble comes just ahead of the exchange's planned around 30,000 crore rupee IPO, raising concerns about investor appetite.