CDSL share price surges over 5%, hits 52-week high on strong Q4 earnings. Should you buy, hold or sell?

On Saturday, Central Depository Services (India) Ltd (CDSL) said that, for the 4th ended March, its nett net had doubled to ₹129 crore. During the aforesaid 4th past year, it had reported a nett net of ₹63 crore. 

From ₹144 crore successful the aforesaid play past twelvemonth to ₹267 crore successful the March 4th of 2023–24, the full income accrued by 86%. The depository recorded a nett net of ₹420 crore for the full fiscal twelvemonth 2023–24, a 52% summation implicit the erstwhile year. With a 46% increase, full income successful FY24 was ₹907 crore.

CDSL stock terms contiguous opened astatine ₹2,185 apiece connected NSE, the banal touched an intraday precocious of ₹2,199.90 and an intraday debased of ₹2,132.50.

According to Rajesh Bhosale, Equity Technical and Derivative Analyst astatine Angel One, the banal has been successful a beardown uptrend, and post-result prices person seen a beardown gap-up opening. The bias remains positive, and successful the adjacent word we whitethorn spot an extended upmove. Any dip tin beryllium considered a buying opportunity, with 2,050–2,080 arsenic enactment and 2,250 arsenic resistance. 

(more to come)

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Published: 06 May 2024, 10:10 AM IST