Shares of Central Depository Services Limited (CDSL) gained 4.65 percent on Thursday, November 23, a day after it announced that the number of active demat accounts on its platform crossed the 10 crore mark. In a statement, the depository announced “the crossing of another milestone as more than 10 crore demat accounts have been registered with CDSL”.
CDSL is the largest depository in the country in terms of active demat accounts and allows investors to deposit securities by opening an account in electronic form (dematerialized). CDSL maintains and services more than 10 crore demat accounts of Investors or Beneficial Owners (BOs) spread across the country.
Also Read: CDSL becomes first listed depository to register over 10 crore demat accounts
These BOs are served by CDSL’s more than 580 Deposit Participants (DPs) from more than 20,000 locations. CDSL is also the only listed depository, with the aim of providing convenient, reliable and secure deposits at an affordable cost to all market participants.
CDSL reported a net profit of ₹108.8 crore in the July-September period of fiscal 2023-24 (Q2FY24), compared to ₹80.4 crore in the corresponding period last year. The Depository’s total income from operations in the second quarter of the current fiscal stood at ₹230.11 crores, compared to ₹170 crore in the previous year period.
On Thursday, shares of CDSL opened at ₹1,740, and gained 4.65 percent to hit an intraday high of ₹1,825 per, against a 52-week high note of ₹1,897 apiece on the NSE.
Meanwhile, domestic benchmark equity indices Sensex and Nifty 50 ended the Thursday session flat. Alongside an increase in US markets, and a decrease in crude oil prices, the benchmark equity indices witnessed gains in early trade.
The 30-share BSE Sensex ended lower by 5.43 points or 0.01 percent at 66,017.81 level while the Nifty 50 closed at 19,802 level, down 9.85 points or 0.05 percent. Shares of CDSL settled 4.71 percent higher at ₹1,799.90 apiece on the NSE.
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Updated: 23 Nov 2023, 17:50 IST