CDSL jumps over 8%, hits fresh all-time high amid heavy volumes

So far this year, the stock of this central depository has more than doubled

Shares of Central Depository Services (CDSL) jumped over 8 percent to hit an all-time high of Rs 1,865 per share on December 5. The stock also gained the most in eight weeks amid heavy volumes. So far, around 1 crore shares were exchanged on both BSE and NSE, significantly exceeding 47 lakh shares exchanged on an average of one-week.

So far this year, the stock of this central depository has more than doubled or skyrocketed over 100 percent, as against benchmark Nifty 50's 12 percent surge.

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In the quarter ending September 2024, the company posted an impressive 49 percent year-on-year surge in net profit, reaching Rs 162 crore. Revenue from operations skyrocketed 55.5 percent YoY, climbing to Rs 322 crore. CDSL achieved a major milestone, becoming the first depository to exceed 13.5 crore registered demat accounts as of September 30, 2024. Notably, the second quarter of FY 2024-25 alone saw the addition of 1.18 crore new demat accounts.

As the largest depository in the country by active demat accounts, CDSL provides investors with the convenience of electronically depositing their securities through dematerialised accounts.

As per CDSL's shareholding data pattern, FIIs have decreased their holdings to 13.7 percent from 14 percent. Mutual funds also trimmed their stake to 13.3 percent from 15.88 percent, while institutional investors pared their holdings to 35.33 percent in September quarter from 38.92 percent.

Around 9 brokerages cover CDSL stock, with 2 suggesting "buy" ratings on the counter, 5 shared "hold" call, and 2 shared "sell" ratings.

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