CDSL share price gains over 3% in weak stock market today; here's why

CDSL share price: CDSL is one of India's leading securities depositories. CDSL share price hit an all-time high of Rs 1,989.8 per share on December 17, 2024

Share price of Central Depository Services Ltd (CDSL) gained 3.5 per cent today, to hit a high of Rs 1,294 per share on the National Stock Exchange (NSE). CDSL share, however, pared most of its gains and was up 0.8 per cent at 1:25 PM as against 0.6 per cent dip in the Nifty index today.

 

The rise in CDSL shares came after the capital markets’ intermediary company, in collaboration with NSDL (National Securities Depository Ltd), launched a unified investor app. Called Unified Investor Platform, the app will allow investors to view consolidated data of their investments, including financial statements, mutual fund investments, trading positions across brokers, and tax implications.

 

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The app combines features of CDSL’s MyEasi app and NSDL’s SPEED-e app.

 

"These unifying features in the Investor apps are aimed at democratising investor access… Now, irrespective of your primary depository holding account, you can access all your investments, margin positions, and holding statements at one place," said Nehal Vora, managing director and CEO of CDSL.

 

CDSL is one of India's leading securities depositories. A depository facilitates the holding of securities in the electronic form and enables securities transactions to be processed by book entry by a Depository Participant (DP) who acts as an agent of the depository offering depository services to investors.

 

CDSL share price hit an all-time high of Rs 1,989.8 per share on December 17, 2024. At the time of writing this report, CDSL's market capitalisation stood at Rs 26,171 crore.

 

Meanwhile, a Business Standard report suggests that peer firm NSDL will likely launch its initial public offering (IPO) by April 2025.

 

Notably, market regulator Securities and Exchange Board of India (Sebi) had granted NSDL an in-principle approval to launch its IPO in September 2024. READ MORE

 

The IPO, as per the report, will see six shareholders partially paring their stakes in NSDL. These would include the National Stock Exchange (NSE), IDBI Bank, and HDFC Bank.

 

With its IPO, NSDL wishes to comply with Sebi’s shareholding norm which requires a market infrastructure institute to cap a single-entity ownership at 15 per cent. Besides, the idea is to diversify the shareholder base and reduce concentration risk.