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Shares of CDSL have surged nearly 13% in four trading sessions from its previous closing low of Rs 1,524.10 posted on 9 December 2021. The counter hit a record high of Rs 1,734.40 intraday today. The stock has zoomed 261% from its 52-week low of Rs 475 recorded on 21 December 2020.
In last one month, the stock moved 9.5% higher as compared to a 5% fall in Nifty 50 index.
The counter saw demand after the company on 26 November announced that it became the first depository to hold five crore plus active demat accounts.
On the technical front, the stock's RSI (relative strength index) stood at 73.136. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
The stock is trading above its 50 and 100 days simple moving average placed at 1439.48 and 1359.95 respectively. These levels will act as crucial support zones in near term.
Central Depository Services (India) Limited (CDSL) is India's leading and only listed depository, with an objective of providing convenient, dependable and secure depository services at affordable cost to all market participants.
On a consolidated basis, the company posted a 76.1% rise in net profit to Rs 86.06 crore on a 63.6% increase in net sales to Rs 145.97 crore in Q2 FY22 over Q2 FY21.
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