CDSL Share News: In the current session, a total of 44.85 lakh shares of CDSL were traded, generating a turnover of Rs 679.25 crore. The 0.9 beta of the CDSL stock indicates minimal volatility over a year.
Today, the shares of Central Depository Services (India) Ltd (CDSL), which ended at Rs 2,898.10, started at Rs 1,500, indicating a 48.24% correction on the NSE. The price of CDSL has nearly dropped from yesterday, trading at a 1:1 ratio ex-bonus.
CDSL Share Price Surged More Than 6%
The CDSL share price surged more than 6% to reach its 52-week high of Rs 1,559 on the NSE during the stock’s ex-bonus period. Today marked the implementation of the depository’s bonus issue. After the correction, the stock is up more than 6%.
It indicates that for each share owned by shareholders as of the record date, CDSL will issue one free bonus share. This suggests that there will be twice as many CDSL shares available on the stock market, which will result in a nearly 50% decrease in stock price on the NSE. However, the bonus issue won’t have an impact on market capitalization of CDSL.
In July of this year, the CDSL board announced its first-ever bonus share offering. As bonus shares, CDSL will issue 10,45,00,000 equity shares with a face value of Rs 10 apiece, for a total of Rs 104.5 crore, the company announced. With shareholder approval, bonus shares from the company’s capitalization of free reserves—which comprises general reserves and retained earnings—will be awarded.
The bonus issuance will be worth Rs 209 crore in share capital.
“By the terms of Regulation 42 of the SEBI Listing Regulations, and concerning the captioned subject and our previous intimation dated July 02, 2024, we wish to inform you that the Company has fixed the ‘Record Date’ as Saturday, August 24, 2024,” As indicated by the corporation in a filing to the exchanges.
Technically speaking, CDSL’s relative strength index (RSI) is 75.2, indicating that it is trading in the overbought area of the chart.
CDSL Share Split
As announced in July, the company planned to issue the bonus shares by September 1, 2024, at the latest, or two months after the board’s approval date.
Additionally, the company’s board approved raising the company’s authorized share capital from Rs 150 crore, split into 15 crore equity shares at a value of Rs 10, to Rs 300 crore, divided into 30 crore equity shares at a value of Rs 10, according to the firm.
For the quarter that concluded in June 2024, CDSL recorded an 82% increase in net profit. In comparison to the Rs 73.57 crore profit in the same quarter last year, the profit for the most recent quarter increased to Rs 134.20 crore. From Rs 149.68 crore in the same quarter last year to Rs 257.38 crore in Q1, revenue increased by 72%.
SEBI has registered Central Depository Services (India) as a depository. The purpose of CDSL is to provide a robust, affordable, and secure repository to all market players.