CDSL stock skyrockets 13% to hit record high as company considering bonus shares

The Board of Directors is scheduled to convene connected Tuesday, July 02, 2024, to sermon and perchance o.k. this proposal.

“Meeting of the Board of Directors of Central Depository Services (India) Limited (“CDSL/Company") is scheduled to beryllium held connected Tuesday, July 02, 2024, inter alia, to see and o.k. the connection for issuance of bonus shares, if any, taxable to the support of the shareholders of the company," the institution said successful an speech filing.

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If approved, this would people CDSL's archetypal issuance of bonus shares, arsenic indicated by disposable speech data. CDSL, 1 of India's 2 starring depositories alongside National Securities Depository Ltd. (NSDL), facilitates the physics retention and speech of assets and the colony of trades done Demat accounts.

In November, CDSL became the archetypal listed depository to registry implicit 10 crore demat accounts nationwide, presently managing 10.4 crore of specified accounts.

It enjoys backing from large institutions similar the Bombay Stock Exchange, State Bank of India, and Bank of India. Recently, BSE sold a 4.54% involvement successful CDSL done a artifact deal.

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With astir 583 registered depository participants, CDSL has seen robust maturation driven by a important summation successful demat accounts.

The institution derives revenues from transaction charges, colony charges, and relationship attraction fees paid by its participants. Since debuting successful the secondary marketplace successful 2017, the company's shares person consistently shown beardown performance, delivering awesome returns.

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In the past twelvemonth alone, the banal has surged by 107%. Over the people of 3 years, it has rallied by 128%, and successful the past 5 years, investors person seen an outstanding instrumentality of 908%.

Disclaimer: We counsel investors to cheque with certified experts earlier taking immoderate concern decisions.

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Published: 28 Jun 2024, 12:24 PM IST