- CDSL Share Price Movement:
- CDSL shares closed at Rs 2,898.10 yesterday.
- Today, they opened at Rs 1,500, showing a 48.24% drop on NSE.
- The stock price nearly halved because it started trading ex-bonus (bonus shares issued).
- Bonus Issue Details:
- The bonus issue is in a 1:1 ratio, meaning one free share for every share held.
- August 24 is the record date for determining eligible shareholders.
- After the bonus issue, the number of shares will double, reducing the stock price by nearly half.
- The market capitalization of CDSL will remain unchanged by this bonus issue.
- Bonus Shares Issued:
- CDSL will issue 10,450,000 new equity shares with a face value of Rs 10 each.
- This totals Rs 104.5 crore, coming from the company’s free reserves.
- The bonus issue will increase the company’s share capital to Rs 209 crore.
- Company Announcements:
- The bonus issue was announced in July 2024.
- The shares will be issued within two months from board approval, by September 1, 2024.
- The board also approved increasing the authorized share capital from Rs 150 crore to Rs 300 crore.
- Recent Stock Activity:
- 44.85 lakh shares were traded today, with a turnover of Rs 679.25 crore.
- The stock has a beta of 0.9, indicating low volatility.
- Technical Indicators:
- The Relative Strength Index (RSI) is 75.2, suggesting the stock is overbought.
- Financial Performance:
- CDSL reported an 82% increase in net profit for Q1 June 2024, reaching Rs 134.20 crore.
- Revenue surged by 72% to Rs 257.38 crore compared to the same quarter last year.
- About CDSL:
- Central Depository Services (India) Ltd is a SEBI-registered depository.
- It aims to provide a secure, convenient, and affordable depository service to market participants.