CDSL shares surged by over 12% after the stock began trading on a 1:1 ex-bonus basis.

In today’s trading session, CDSL shares are trading ex-bonus following the company’s bonus issue, which took effect today. The stock has risen by up to 12% after the adjustment.

CDSL previously announced a bonus issue in a 1:1 ratio, meaning shareholders will receive one additional share for each share they own as of the record date. The record date was set for August 24.

CDSL shares are seeing gains ahead of the bonus issue’s record date, with the stock rising in 10 of the last 12 trading sessions.

Shareholders who held CDSL shares in their demat accounts at the close of trading on Thursday will be eligible for the bonus shares.

Last week, shareholders approved the bonus issue at the company’s Annual General Meeting (AGM).

A recent report from Motilal Oswal highlighted that CDSL has continued to expand its market share in the total number of demat accounts, which reached 167 million in July 2024.

The brokerage also noted that CDSL’s competitor, NSDL, lost 420 and 510 basis points in market share for total and incremental demat accounts, respectively.

CDSL now holds a 77% market share in total demat accounts. Its market share in incremental accounts rose to 91% in July, up from 90% in June.

CDSL shares are currently trading 12.4% higher at ₹1,624, reflecting a 28% gain over the past month.
First Published: Aug 22, 2024, 12:35 PM IST