CDSL Share Price: The share price of Central Depository Services (India) Ltd (CDSL) fell more than 6% on Wednesday as a result of rumours that Standard Chartered Bank plans to sell off all of its ownership through a block deal. According to a term sheet that Mint reviewed, the bank plans to sell 7.5 million shares or 7.18% of its CDSL holdings. Today, CDSL’s share price opened on the NSE at ₹1,718.55 a share.
The deal is expected to have a maximum value of $151 million. Standard Chartered is offering to sell the shares for ₹1,672 a share, which is 6.5% less than CDSL’s NSE closing price of ₹1,788.90 on Tuesday.
Angel One’s Rajesh Bhosale, an equity technical and derivative analyst, stated that the stock prices opened lower after learning overnight of the stake sale. With the stake sale taking place at the opening, we have witnessed a spike in volume. Although there isn’t much momentum right now, the general tendency is upward. In the short term, any further down towards ₹1,600–1,550 would be a great time to buy, while 1800 represents immediate resistance.
A 9.6% stake in CDSL, or approximately 1 crore shares, valued at ₹1,712.9 crore, reportedly changed hands.
JP Morgan India Private Limited is purportedly in charge of the Standard Chartered selling procedure. An email was not quickly answered by a CDSL official, according to Trends on Chai
According to a research report published on February 7 by JM Financial, CDSL gains from India’s strong economic potential as well as its stable macroeconomic and political environment, which favourably positions the nation’s capital markets for expansion. The research study said, “Yet we believe the stock remains fairly valued at current valuations of 44x/40x FY25/26E P/E.”
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Share Price of CDLS, CDLS Share Price, Central Depository Services (India) Ltd (CDSL) share price
Serving as a depository, CDSL makes it easier to keep shares electronically. The only two depositories in India are CDSL and National Securities Depository Ltd, which is supported by the National Stock Exchange. Investors in foreign portfolios in CategoryBy the end of December, I had invested more than 10% in CDSL, almost 8% in insurance firms, and nearly 13% in mutual funds.
Comparing the same quarter last year to this one, CDSL reported a consolidated net profit of Rs 107 crore as opposed to Rs 75 crore.
As the first depository to register 10 crore Demat accounts, CDSL did it in November of last year.
Financial intermediaries and markets are served by CDSL and its subsidiaries with a range of services. CDSL Ventures, CDSL Commodity Repository Ltd., and CDSL Insurance Repository Ltd. are some of its subsidiaries.
At floor pricing, the deal size is projected to be worth Rs 1,250 crore. However, when exchanges reveal block deal data in the evening, there will be confirmation regarding the deal.
Along with banks including State Bank of India, Bank of India, Bank of Baroda, HDFC Bank, Standard Chartered Bank, and Union Bank of India, CDSL was established in 1999 by the BSE.
In its capacity as a depository, CDSL makes electronic securities holding easier. The only two depositories in India are National Securities Depository Ltd., maintained by the National Stock Exchange, and CDSL.
International investors in portfolios within CategoryAs of the end of December, I owned over 10% of CDSL, over 8% of insurance companies, and almost 13% of mutual funds.
CDSL reported a total net profit of Rs 107 crore for the quarter that ended in December, up from Rs 75 crore in the same period last year.
As the first depository to register 10 crore Demat accounts, CDSL did it in November of last year.
Financial intermediaries and markets are served by CDSL and its subsidiaries with a range of services. CDSL Ventures, CDSL Insurance Repository Ltd., and CDSL Commodity Repository Ltd. are some of its subsidiaries.