CDSL jumps 3% as demat accounts cross 10-crore mark

The share price of Central Depository Services Limited (CDSL) jumped more than 3 percent in the early trade on November 23 after the company reported crossing the 10-crore milestone in dematerialised (demat) accounts.

A day earlier, India’s leading depository service providers said the number of demat accounts on its platform crossed the 10-crore mark. CDSL, which began operations in 1999, allows the holding and transacting of securities in the electronic form and settlement of trades on stock exchanges.

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CDSL is in a bullish momentum phase and is likely to surpass the previous all-time high in the coming days, Vinay Rajani, CMT, senior technical and derivative analyst at HDFC Securities, said in a recent interview to Moneycontrol.

The chart structure was extremely bullish. “We don’t expect major correction in the stock in the near term,” he added.

Also Read: Demat accounts on CDSL cross 10-crore mark

At 9.19 am, the stock was trading at Rs 1,774.87 on NSE.

The stock has gained 74.13 percent over the past six months against the benchmark Nifty’s 7.98 percent return during the same period.

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