CDSL shares zoom 20% to hit fresh record high on bonus announcement
CDSL shares zoom 20% to hit fresh record high on bonus announcement
Shares of Central Depository Services (India) Ltd or CDSL on Friday rose sharply to scale their all-time high levels. The stock soared 20 per cent to hit a high of Rs 2,407.40. At this price, the multibagger scrip has gained 115.48 per cent in a year.
Today's strong upward move in the share price came after the company announced its board would consider a maiden bonus issue on July 2, 2024 (Tuesday).
"A meeting of the board of directors of CDSL is scheduled to be held on July 2, 2024, inter alia, to consider and approve the proposal for issuance of bonus shares, if any, subject to the approval of the shareholders of the company," CDSL stated in an exchange filing.
Around 2.17 crore shares changed hands today on NSE for a traded value of Rs 4,945.42 crore. The company's market capitalisation (m-cap) stood at Rs 25,157.33 crore.
On technical setup, the counter traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). The counter's 14-day relative strength index (RSI) came at 42.64. A level below 30 is defined as oversold while a value above 70 is considered overbought.
CDSL is a depository registered with markets regulator Sebi. It was set up with the objective of providing convenient dependable and secure depository sendees at affordable cost to all market participants.
The company derives its operating income from the fixed annual charges collected from the registered issuer companies and transaction-based fees collected from depository participants.
As of March 2024, promoter and promoter group jointly held a 15 per cent stake in the company.
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