CDSL Shares Skyrocket 14% On Ex-Date For Bonus Shares; Details

CDSL shares are trading ex-bonus today, with the stock rising as much as 14 per cent at day’s high following the bonus issue announcement. The bonus issue, in a 1:1 ratio, means shareholders will receive one additional share for every share held as of the record date, August 24.

The company announced the bonus shares in the ratio 1:1. In a regulatory filing, it said, “The bonus shares will be issued to the shareholders of the company in the ratio of 1:1 i.e., 1 new fully paid-up Equity Share of Rs 10 each for every one existing fully paid-up Equity Share of Rs 10 each held by the eligible Shareholders of the Company as on the Record Date.”

Those shareholders who had shares of CDSL in their demat accounts at the closing of trade on Thursday will be eligible for the bonus issue of shares.

A report released recently by Motilal Oswal indicated that CDSL has continued to gain market share in terms of the total number of demat accounts. The total number of demat accounts increased to 167 million in July 2024.

The brokerage also said that NSDL, its competitor, lost 420 and 510 basis points in market share respectively when it comes to total and incremental demat accounts.

The company facilitates holding and transacting in securities in the electronic form and settlement of trades on stock exchanges.

In the quarter concluded in June 2024, CDSL recorded a profit after tax (PAT) of 82.4 per cent YoY at Rs 134 crore.

CDSL still has a 77 per cent market share when it comes to demat accounts. Its market share in incremental accounts has increased to 91 per cent in July from 90 per cent in June.

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