Shares of Central Depository Services Ltd(CDSL) plunged 6 percent intraday on Wednesday’s first half session. This happened after BSE sold 5.4 percent of its stock in the company.
With a market capitalization of Rs 10,625 crores, Company shares were trading at Rs 1,020.50 on the NSE at 14:00 hrs, dropping 2.50 percent from the previous close.
According to Moneycontrol, At an average price of Rs 1,000 per equity share, the BSE sold 56.3 lakh shares, or 5.4 percent of the company, for a worth of Rs 558 crore. presumably, buyers were domestic mutual funds and high-net-worth individuals.
According to the March 2023 holdings, BSE owned 20 percent of the company. BSE sold a 2.5 percent stake in CDSL through an offer for sale (OFS) in February of this year.
Central Depository Services Limited is a Market Infrastructure Institution part of the capital market structure, it acts as a facilitator to all market participants for exchanges, clearing corporations, depository participants, issuers, and investors.
CDSL’s net sales in the March 2023 quarter were Rs 124.77 crore, down 8.64 percent from Rs 136.56 crore in the same quarter last year. The company’s net profit was Rs 63.10 crore, a decrease of 18.74 percent from the previous year.
Furthermore, Revenue increased year on year, from Rs 551 crore in FY 21-22 to Rs 555 crore in FY 22-23. Within the same time frame, net profit fell from Rs 313 crore to Rs 280 crore.
Profitability Margins indicate a net profit margin stands at 50.51 percent and an operating profit margin of 66.60 percent.
According to the latest shareholding pattern, promoters of the company hold a 20 percent stake, Foreign institutional investors own 14.67 percent, and domestic institutional investors hold 18.47 percent of the company for FY 22-23.
Written by Omkar C
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