CAMS gains on selection as central record keeping agency

Computer Age Management Services (CAMS) rose 0.53% to Rs 1517.70 after the company was deemed eligible as central record keeping agency under the National Pension Scheme (NPS).

CAMS has been considered eligible for selection and further grant of registration as a central record keeping agency under the NPS under the Pension Fund Regulatory and Development Authority (Central Recordkeeping Agency) Regulations, 2015.

The selection is subject to certain fulfilment of certain conditions including the de-registration of the company as a Point of Presence under the Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018.

"The company is in the process of complying with such conditions to obtain the registration as a Central Record Keeping Agency and will provide the updates as and when required, CAMS said in a regulatory filing made after market hours yesterday.

CAMS is a technology-driven financial infrastructure and services provider to mutual funds and other financial institutions with over two decades of experience. The company is India's largest registrar and transfer agent of mutual funds with an aggregate market share of approximately 70% based on mutual fund average assets under management (AAUM) managed by its clients and serviced by the company during July 2020.

The company's consolidated net profit rose 14.9% to Rs 48.95 crore on a 1.5% fall in net sales to Rs 171.14 crore in Q2 FY21 over Q2 FY20.

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