CDSL share price: CDSL shares opened at ₹1,718.55 per on NSE today. Here’s why it’s plummeting.
The stock price of Central Depository Services (India) Ltd (CDSL) experienced a decline of more than 6% on March 27 following reports indicating that Standard Chartered Bank plans to divestits whole ownership through a block purchase of the business. According to sources, the bank intends to sell 7.5 million shares, equivalent to 7.18% of its total holdings in CDSL.
CDSL share price
After this development, CDSL’s stock opened at ₹1,718.55 per share on the NSE today. The transaction is anticipated to amount to up to $151 million in total, with Standard Chartered offering the shares at a base price of ₹1,672 each. This represents a 6.5% markdown from CDSL’s closing price of ₹1,788.90 on the NSE as of March 26.
Standard Chartered Bank is planning to sell its entire 7.18% interest in CDSL.
According to reports, approximately 1 crore shares, equivalent to a 9.6% stake in CDSL valued at ₹1,712.9 crore, were traded, and the entire divestment process by Standard Chartered is being managed by JP Morgan India Private Limited.
CDSL financials: Essential information
According to a research report by JM Financial, CDSL stands to gain from India’s promising economic prospects and its stable political and macroeconomic environment. However, the report suggests that the stock is currently priced at levels that are considered fair, with a P/E ratio of 44x/40x for FY25/26E.
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In February 1999, CDSL obtained the certificate of beginning of business from SEBI.In the December quarter, the company saw a notable uptick in sales, which rose by 44% to reach ₹169.5 crore. Additionally, its standalone net profit showed a strong surge of 37%, totaling ₹86 crore on an annual basis.
