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News Topical, Digital Desk : CDSL Share Price: Shares of Central Depository Services Limited (CDSL) saw a rise of 9% in the first trading session of June. This is the second consecutive day when the company's shares are seeing an increase. In today's trading session, it is among the top gainers of the Nifty 500 index. In the last one month, CDSL shares have registered a total rise of 25%. CDSL shares have registered a consistent rise in the last three months.
After a rise of 11% in March, 8% in April and 16% in May, June has also started strongly. However, in technical analysis, this stock has reached the overbought area, where its Relative Strength Index (RSI) is at the level of 83. RSI being above 70 means that the stock is overbought.
Expectation of uptrend in the long term Sachchidanand Uttekar of Tradebulls said, "The recent breakout shows bullish continuation patterns, especially the bullish flag, which indicates a long-term uptrend. According to this pattern, the stock can rise to ₹ 1,740 and further to ₹ 1,820. We recommend taking long positions up to ₹ 1,630, and keep a weekly stop loss below ₹ 1,540." On the other hand, Anand Rathi's Mehul Kothari said that the stock looks overbought on the short-term charts, due to which the risk profit ratio is not favorable for new investors at current levels. He said that the next possible targets could be between ₹ 1,680 to ₹ 1,700, where profit booking is likely. On the downside, there is strong support at ₹ 1,600 and then ₹ 1,570, where new opportunities can be found after the dip.
How were the results? CDSL recorded record earnings of ₹ 1,199 crore in the financial year 2024-25, up 32% from the previous year. The consolidated net profit of the company stood at ₹ 526 crore, showing a jump of 25%. However, revenue and profit declined in the fourth quarter, which also led to a slight decline in the stock price. The company has maintained a market share of about 79% with 15.29 crore demat accounts.
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