Central Depository Services (India) Ltd (CDSL) has introduced a uniform tariff of Rs. 3.50 per debit transaction, effective October 01, 2024. This announcement aligns with SEBI’s 'True to Label' Circular and aims to simplify transaction costs for investors, said CDSL in a regulatory filing.
The new tariff will apply to all debit transactions involving shares. However, CDSL will continue to offer certain discounts: a Rs. 0.25 discount for debit transactions conducted by female demat account holders (as sole or first holders) and a Rs. 0.25 discount for transactions in Mutual Fund and Bond ISINs.
CDSL plays a crucial role in the Indian equities market by providing depository services that facilitate the holding and transfer of securities in electronic form. CDSL has a customer base exceeding 13 crore investors. It is affiliated with the Bombay Stock Exchange (BSE).
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CDSL is one of the two main depositories in India, alongside National Securities Depository Limited (NSDL); it has a relatively smaller market share in terms of demat accounts, whereas NSDL has a larger share.
CDSL is Asia's only listed depository service, with a market capitalisation of nearly Rs 31,300 crore. Its share price has surged by as much as 125 percent over the last one year to Rs 1,496, and has jumped by 65 percent year-to-date (since January). The share price performance has beaten benchmark Sensex, which has gained 30 percent and 18 percent during these timeframes, respectively.
Other than CDSL, the stocks of other capital markets service providers have rallied of late. In the last one year, BSE Ltd share price has tripled; Computer Age Management Services (CAMS) stock is up 78 percent; KFinTech share price has jumped 125 percent. Brokerage service providers' stocks have also seen sharp gains.
In private markets, NSE's (National Stock Exchange of India Ltd) valuation has doubled to $36 billion in the last four months, as its IPO nears, Bloomberg reported citing unidentified sources.
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