CDSL reaches a new high; it has risen 10% in four days.
For the fourth trading session in a row, Central Depository Services (India) (CDSL) gained 1.33 percent to Rs 1,589.20.
CDSL shares have increased over 10% in four trading days since its previous closing of Rs 1449.50 on November 10, 2021. In intraday trading today, the counter reached an all-time high of Rs 1,624. The stock has increased by 247.6 percent since its 52-week low of Rs 467.15 on November 26, 2020.
The company has outpaced the Nifty 50 index by roughly 16 percent over the last month, albeit losing 1.59 percent during that time.
The stock’s RSI (Relative Strength Index) was 74.256 on the technical front. The RSI fluctuates between zero and one hundred. When the RSI is over 70 and below 30, it is traditionally considered oversold.
At 1355.01 and 1284.32, the stock is trading above its 50 and 100 day simple moving averages. In the foreseeable future, these levels will serve as essential support zones.
CDSL (Central Depository Services (India) Limited) is India’s leading and only listed depository, whose mission is to provide all market participants with convenient, dependable, and secure depository services at an accessible cost.
On a consolidated basis, the company’s Net Profit increased by 76.1 percent to Rs 86.06 crore in Q2 FY22, while Net Sales increased by 63.6 percent to Rs 145.97 crore.
Business-standard.com is the source for this information.
CDSL Share Price Target | Why Should You Bet on the Short Term?
Rohan Patil of Bonanza Portfolio has recommended this stock.
CDSL: Buy | LTP: Rs 1,449.50 | Stop Loss: Rs 1,390 | Target: Rs 1,560 | Return: 7.60 percent
For the past two months, the stock has been trading in a rectangle and has developed a trend line resistance at Rs 1,430. On November 4, CDSL broke out of a rectangular pattern at Rs 1,467, and prices showed a significant breakout, indicating a trend movement from side to side. The counter has given a flashback in the previous two trading sessions at its trend line support, which is near the Rs 1,430 mark.
On the daily time scale, it is trading above its 21, 50, and 100-day exponential moving averages, which is bullish for the price in the immediate term.
Moneycontrol.com is the source for this information.
CDSL Share Price Target | What Should Investors Do With CDSL?
Mazhar Mohammad, Chartviewindia.in, has recommended this stock.
Hold the CDSL.
As it emerged from a 6-week sideways trend into a narrow trading range, this counter appeared to have initiated a consolidation breakout.
Furthermore, it has been moving in a narrow upward channel for the previous 20 weeks. As a result, if it continues to trade above Rs 1,090, a higher objective of Rs 1,370 may be projected based on the weekly channel breakout.
Long-term investors who entered at lower levels can keep their stops below Rs 1,090, while new purchase advise is only offered on falls in the Rs 1,167-1,148 range.
Moneycontrol.com is the source for this information.
ICICI Securities Reduces CDSL Share Price Target to Rs 1310
ICICI Securities has set a target price of Rs 1310 for the Central Depository Services (India) stock. The price of Central Depository Services (India) Ltd. Limited may achieve the predetermined objective.
Central Depository Services (India) Limited, founded in 1997, is a Small Valuation business in the Financial Services industry with a market cap of Rs 15339.56 crore.
For the fiscal year ending March 31, 2020, Central Depository Services (India) Limited’s key products/revenue segments are sales of services.
The firm recorded Consolidated Total Income of Rs 165.15 crore for the quarter ended September 30, 2021, up 27.24 percent from the previous quarter’s total income of Rs 129.79 crore and up 63.25 percent from the same period last year’s income of Rs 101.17 crore. In the most recent quarter, the company reported a net profit after tax of Rs 86.58 crore.
Reasons for Investing
Central Depository Services (CDSL) continues to be a steady player in the capital market, benefiting greatly from the high level of retail involvement. This resulted in a 53% rise in FY2011 revenue, with a 101 percent /10 percent split between market-linked and non-market-linked components, and a 70% increase in H1FY22 revenue (106 percent /25 percent). (divided equally). While CDSL’s leadership in demat account additions and cost management remained solid in FY20/FY21, the cyclical nature of retail trading makes it difficult to build in structural growth of more than 15%. Growth on the higher end of FY21/H1FY22 will be difficult to achieve in the future. REDUCE has been maintained by the brokerage, with a reduced target price of Rs 1,310. (Earlier: Rs 1,160).
Promoters owned 20.0 percent of the firm as of September 30, 2021, while FIIs held 15.75 percent and DIIs had 22.33 percent.
EconomicsTimes.com is the source for this information.
CDSL’s net profit increased by 80% in the second quarter, and its stock price soared.
After the release for the quarter ended September 30, 2021, shares of Central Depository Services (India) Limited (CDSL) were trading over 2% higher at 1,382 on the NSE in early dealings on Monday. Standalone net profit increased by 80% year on year (YoY) to 68 crore from 38 crore, but was down 6% from the prior quarter.
CDSL’s overall revenue increased by 62 percent to 127.9 crore from 79 crore the previous quarter. In July 2021, CDSL became the first depository to record 4 crore demat accounts. In the second quarter of FY22, 68 lakh demat accounts were opened, the greatest quarterly addition ever (Q2FY21 – 29 lakh). As of September 30, 2021, the value of securities under demat custody (in crores) has climbed to Rs 35.21 lakh crore.
The firm, through its subsidiary CVL, continues to establish capital market investor records in the quarter ending September 30, 2021, according to the company. CVL is the country’s first and biggest KYC Registration Agency (KRA).
On a consolidated basis, CDSL’s net profit increased by 76 percent to 86 crore in Q2 compared to 49 crore in the previous fiscal’s equivalent period.
The leading and only listed Depository in India is Central Depository Services (India) Limited (CDSL). It allows for the electronic keeping and transaction of securities, as well as the settlement of deals on stock exchanges. BSE, Canara Bank, HDFC Bank, LIC, and Standard Chartered Bank are among CDSL’s major shareholders. CDSL and its subsidiaries additionally supply financial intermediaries and markets with a variety of services.
Livemint.com is the source of this information.
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