CDSL shares climb over 10% in early deals, here's why
CDSL shares climb over 10% in early deals, here's why
Shares of Central Depository Services Limited (CDSL) rose over 10% in early deals on Friday after the central securities depository said its board would meet on July 2 to deliberate over issuance of bonus shares to its shareholders. CDSL stock gained 10.15% to Rs 2160 against the previous close of Rs 2006.20. Market cap of CDSL climbed to Rs 23,057 crore on NSE. The stock is not listed on BSE.
Total 47.74 lakh shares of the firm changed hands amounting to a turnover of Rs 1036.5 crore. The stock has a beta of 0.9, indicating average volatility in a year.
In terms of technicals, the relative strength index (RSI) of CDSL stands at 42.3, signaling it's neither trading in the overbought nor in the oversold territory. CDSL shares are trading higher than the 5 day, 10 day, 50 day, 100 day, 150 day and 200 day moving averages.
This is the first time the company will consider an issue of bonus shares to shareholders, the company said in a communication to bourses.
Record date for the said bonus issue is yet to be determined.
"A meeting of the Board of Directors of Central Depository Services (India) Limited (CDSL/Company) is scheduled to be held on Tuesday, July 02, 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," it said in a filing.
Central Depository Services (India) is a Depository registered with SEBI. CDSL was set up with the objective of providing convenient dependable and secure depository sendees at affordable cost to all market participants.
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