CDSL Stock Slides 4% Following Significant Block Deal

14 Jun 2023 , 10:30 AM

CDSL’s (Central Depository Services Limited) share price dropped by 4 % as 56 lakh shares worth Rs 558 crore were traded on June 14. The buyers and sellers of the block, representing a 5.4 % stake, were not immediately known, but it is believed that BSE (Bombay Stock Exchange) was the likely seller, according to dealers.

High net-worth individuals and domestic mutual funds were likely buyers, as per the dealers’ information.

At the time of writing, the stock was priced at Rs 1,013 on the NSE (National Stock Exchange), marking a 3.2 % decline from the previous close. The trading volume of 6.7 million shares was over 12 times the one-month average.

CDSL is the second Indian central securities depository located in Mumbai, primarily facilitating trade settlement on stock exchanges. As of March 2023, BSE held a 20 % stake in CDSL.

In the quarter ending March 2023, CDSL recorded net sales of Rs 124.77 crore, marking an 8.64 % YoY decrease from Rs 136.56 crore in the same period the previous year. The company’s net profit stood at Rs 63.10 crore, showing an 18.74 % YoY decline.

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