Shares of Central Depository Services Ltd. rallied nearly 10% to touch a day’s high of Rs 2,812 on 16th August, ahead of the company’s 1:1 bonus issue record date.

The company previously announced a 1:1 bonus issue, meaning eligible shareholders will receive one additional share for every share they hold. The record date for the same is set for 24th August 2024.

Reports state that CDSL has persisted in gaining market share as the total number of demat accounts increased to 167 million in July 2024.

It was also stated in the documentation that the rival company, NSDL, encountered a decline of 420 and 510 basis points in its market shares of total demat accounts and incremental ones correspondingly.

The company holds a 77% market share in Demat accounts, with its share in incremental accounts rising to 91% in July from 90% in June.

The stock has surged 50% in 2024 and nearly 140% over the last 12 months. It is up 7.5% this week, marking its best week since June, gaining in three out of four trading sessions of this shortened week.

The company’s market capitalisation rose to Rs 29,136 crore after today’s surge.

At 3:30 PM, the shares of CDSL closed 9.58% higher at Rs 2,806 on NSE.

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