CDSL soars 13%; hits record high as board to consider bonus issue on July 2

In the past one year, the stock of the company engaged in the business of depository services has more-than-doubled or zoomed 103 per cent.

Shares of Central Depository Services (India) Limited (CDSL) hit a record high of Rs 2,260, as they surged 13 per cent on the National Stock Exchange (NSE) in Friday’s intra-day trade after the company said its board will consider a maiden bonus issue on July 2, 2024. The stock surpassed its previous high of Rs 2,200 touched on June 3.

“A meeting of the board of directors of CDSL is scheduled to be held on Tuesday, July 02, 2024, inter alia, to consider and approve the proposal for issuance of bonus shares, if any, subject to the approval of the shareholders of the company,” CDSL said in an exchange filing.

 

At 11:20 am; CDSL was trading 12 per cent higher at Rs 2,248.60, as compared to 0.33 per cent rise in the Nifty 50. Total 7.66 million equity shares changed hands at the counter, the exchange data shows.

Meanwhile, in past one year, the stock of the company engaged in the business of depository services has more than doubled or zoomed 103 per cent. In comparison, the benchmark index has rallied nearly 26 per cent. CDSL made its stock market debut on June 30, 2017.

The company offers services to several sub-sectors of the Indian capital markets including retail investors, institutional investors such as AIF, Mutual Funds, etc. The company derives its operating income from the fixed annual charges collected from the registered Issuer companies and transaction-based fees collected from Depository Participants. 

The company offers dematerialisation for a wide spectrum of securities including equity shares, preference shares and bonds of public (listed and unlisted) and private companies, units of mutual funds, government securities, commercial papers and certificates of deposits.