CDSL shares gain more than 12% after stock trades 1:1 ex-bonus

The stock is up as much as 12 percent post adjustment, as per reports.

Earlier, CDSL had announced a bonus issue in the 1:1 ratio, meaning the company will issue one free share for every one share held by shareholders as of the record date. August 24 was fixed as the record date, reports CNBC-TV18.

CDSL shares are trading with gains ahead of the record date for its bonus issue of shares, and the stock has gained in 10 of the last 12 trading sessions, according to reports.

Those shareholders who had shares of CDSL in their demat accounts at the closing of trade on Thursday (Aug 22) will be eligible for the bonus issue of shares.

Shareholders, last week, had also approved the bonus issue at CDSL's Annual General Meeting (AGM).

According to a recent report by brokerage firm Motilal Oswal, CDSL has continued to gain market share in terms of the total number of demat accounts, while the total number of demat accounts increased to 167 million in July 2024.

Motilal Oswal also said that CDSL's competitor NSDL lost 420 and 510 basis points in market share respectively when it comes to total and incremental demat accounts.

CDSL still has a 77 percent market share when it comes to demat accounts at 77 percent, reports CNBC-TV18, adding that its market share in incremental accounts has increased to 91 percent in July from 90 percent in June.

Shares of the company are currently trading 12.4 percent higher at Rs 1,624, and the stock has gained 28 percent in the last one month, according to reports.