CDSL slips as BSE to pare stake via OFS

Central Depository Services (CDSL) lost 0.58% to Rs 222 while BSE rose 1.55% to Rs 504.90 after BSE said it will offload 4% stake in the CDSL.

Leading stock exchange BSE, promoter of Central Depository Services (CDSL), on Wednesday said it will sell 41,80,000 equity shares, constituting 4% of its stake, in CDSL through offer for sale.

The offer for non-retail investors will open on 28 November 2019 and for retail investors on 29 November 2019. The floor price for the offer is Rs 205 per equity share.

As of 30 September 2019, BSE held 24% stake in CDSL.

CDSL was trading above its 50 and 200 days moving averages placed at 215.54 and 216.24 respectively. The stock has surged 14.7% as compared to a 4.64% decline in its promoter BSE.

On the technical front, the stock's RSI (relative strength index) stood at 49.005. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

CDSL offers other online services such as e-voting, e-Locker and acts a National Academy Depository. The company offers services to several sub-sectors of the Indian securities and financial services market including capital markets, mutual funds and insurance companies.

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