CDSL gains on crossing 6 crore active demat accounts mark

Central Depository Services (India) rallied 3.46% to Rs 1,400.2 after the company said that it has become the first depository to open six crore plus active demat accounts.

CDSL is currently the largest depository in the country in terms of active demat accounts. The depository just three months to add another crore after it hit the five-crore mark in November 2021. In July 2021, CDSL first hit a four crore demat account mark.

Commenting on the joyous occasion, Nehal Vora, MD & CEO of CDSL said, We are elated to have crossed the 6-crore milestone. It is a moment of pride and happiness for the entire eco-system of the securities market and demonstrates the dividend of digitization embarked upon in the 1990s. The milestone also recognises the efforts that led to this growth - the capital market regulator, the market infrastructure institutions, market intermediaries and the employees of CDSL. It is years of ingeniousforesightedness of SEBI, hard-work and innovation that has made the process of a demat account opening secure and simple.

Central Depository Services (India) Limited (CDSL) is India's leading and only listed depository, with an objective of providing convenient, dependable and secure depository services at affordable cost to all market participants.

The company reported a 56% jump in consolidated net profit to Rs 83.63 crore on a 75.9% rise in net sales to Rs 151.52 crore in Q3 FY22 over Q3 FY21.

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