StanChart exits CDSL, sells stake; Maruti mcap breaches Rs 4 trn mark

Standard Chartered Bank on Wednesday sold its entire 7.18 per cent stake in Central Depository Services India (CDSL). The lender sold 7.5 million shares at Rs 1,689 per share to mop-up Rs 1,267 crore, stock exchange data showed.

The exchange data didn’t disclose the names of the buyers. Market players said a clutch of domestic mutual funds were among the buyers. Standard Chartered, among the sponsors of CDSL, had acquired the shares at Rs 10 apiece in August 2001 from BSE.

Shares of CDSL fell 5.6 per cent to close at Rs 1,689 on the NSE, where it is exclusively listed. Shares worth Rs 3,726 crore were traded on the NSE. Shares of the company have almost doubled in the past one year. CDSL, the country’s only listed depository, handles 113 million demat accounts with assets of Rs 6.45 trillion.

Maruti Suzuki mcap breaches Rs 4 trn mark

The market capitalisation of passenger car major Maruti Suzuki India (MSIL) topped the Rs 4 trillion mark for the first time in intraday trade on Wednesday. The company’s stock price hit a record high of Rs 12,725, which valued the car maker at a little over Rs 4 trillion. The stock gave up some gains to finish at Rs 12,550 with a gain of 2.4 per cent over its previous day’s close. Japan’s Suzuki Motor Corporation holds a 58.19 per cent stake in the company. MSIL is currently the 14th most valued listed company in India.