CDSL stock zooms 9% to new 52-week high ahead of bonus issue

CDSL facilitates holding and transacting in securities in the electronic form and settlement of trades on stock exchanges.

Central Depository Services (India) Ltd (CDSL) shares hit a fresh 52-week high on August 16 amid broader market rally on the bourses.

The counter of the leading depository firm advanced to an year's high of Rs 2,787 on the National Stock Exchange (NSE), zooming 8.84 per cent intraday. At the time of filing, the scrip was trading at Rs 2,758 apiece. The stock is trading higher than 5-, 20-, 50-, 100- and 200-day moving averages.

The company facilitates holding and transacting in securities in the electronic form and settlement of trades on stock exchanges.

Earlier, the company announced the bonus shares in the ratio 1:1. In a regulatory filing, it said, "The bonus shares will be issued to the shareholders of the company in the ratio of 1:1 i.e., 1 new fully paid-up Equity Share of Rs 10 each for every one existing fully paid-up Equity Share of Rs 10 each held by the eligible Shareholders of the Company as on the Record Date."

It has also fixed Saturday, August 24 as the record date for determining eligibility of the shareholders for the bonus issue.

Additionally, the company informed that SEBI has approved the additional investment up to Rs 20 crore in India International Bullion Holding IFSC Limited (IIBHL).

In today's trading session, the counter witnessed high activity with a total of 46.42 lakh shares changing hands today of CDSL, which is a constituent of Nifty 500 index generating a total turnover of Rs 1,253.07 crore.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.