# CDSL (CDSL) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/cdsl

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹1,385
- Change: +2.64%
- As of: 2026-09-18
- 1D return: +3.01%
- 5D return: +2.58%
- 1M return: +3.28%
- Latest complete quarter: fy27_q1

## Faxioms Analysis

_As of 2026-09-18_

### Technical Outlook

As of September 18, 2026, CDSL's technical stance shows mixed signals across timeframes. The daily timeframe indicates a bearish trend, with the Supertrend indicator at 1408.73 suggesting price is below this level. However, the price of ₹1390.0 is above key moving averages like the 20-day EMA (1365.66), 50-day EMA (1356.24), 20-day SMA (1381.17), and 200-day SMA (1337.98), indicating some underlying support. In contrast, the weekly and monthly timeframes present a bullish picture. The weekly Supertrend is at 1177.14 with the price above it, and the monthly Supertrend is at 746.66, also with the price above it. This suggests a potential short-term weakness within a longer-term uptrend. Recent market activity includes two downside events and two upside events in the last 30 days, with a total of five market events. The stock is currently trading near its 20-day range position of 0.66, suggesting it is in the upper half of its recent trading range. The annualized volatility stands at 36%, with a current drawdown of -23% and a maximum drawdown of -41%.

- Daily trend is bearish (Supertrend at 1408.73), while weekly and monthly trends are bullish (Supertrend at 1177.14 and 746.66 respectively).
- Nearest support is observed at ₹1372.5 (1.26% below current price), with further support at ₹1334.4.
- Nearest resistance is at ₹1395.6 (0.4% above current price), followed by ₹1433.7.
- Watch for a break below the ₹1372.5 support level to confirm daily bearish sentiment, or a sustained move above ₹1395.6 to challenge the daily bearish Supertrend.

- Harami
- Doji
- Hammer
- Bullish Engulfing Reversal
- Morning Star
- Bearish Engulfing Reversal
- Outside Bar

### News Context

On September 15, 2026, CDSL shares experienced a decline of 4%. This movement coincided with a brokerage firm upgrading its rating on the stock to 'Buy' and revising its target price. The specific details of the revised target price were not provided in the available information.

- On September 15, 2026, CDSL shares fell by 4%.
- A brokerage firm upgraded CDSL stock to 'Buy' on September 15, 2026.
- The same brokerage firm revised its target price for CDSL shares on September 15, 2026.

- CDSL shares slip 4%; brokerage upgrades stock to 'Buy': Check revised target

### What Changed

As of September 18, 2026, Central Depository Services (India) (CDSL) has experienced a modest increase in its stock price, moving from ₹1349.4 to ₹1390.0. This change occurred between an unspecified prior date and the observation date of September 18, 2026. The company's profile on the NSE remains unchanged, with no new filings or news reported in the recent period.

While the stock price has seen an uptick, the daily and weekly trends are not specified in the recent data, making it difficult to assess the momentum of this price movement. The core business context of CDSL as a depository service on the NSE continues, with no new corporate actions or significant news impacting its operational landscape.

- Stock price increased from ₹1349.4 to ₹1390.0 as of September 18, 2026.
- Observation date for the latest price is September 18, 2026.
- No new filings or news were reported for CDSL.
- CDSL continues to be listed on the NSE.
- Daily and weekly trend data is not available for the recent period.

### Official Filings

Central Depository Services (India) Limited (CDSL) has recently completed an additional investment in India International Bullion Holding IFSC Limited (IIBHL), acquiring a stake for ₹19.20 crore. This follows prior SEBI approval for an investment of up to ₹20 crore. Additionally, CDSL finalized its investment in ONDC, acquiring 500,000 equity shares for ₹5 crore, representing a 2.20% stake. This acquisition was also subject to SEBI approval. In terms of management changes, Smt. Nayana Ovalekar will be stepping down as Chief Regulatory Officer & Compliance Officer effective August 31, 2026. Shri Farokh Patel has been appointed to this role, effective September 1, 2026, and will serve as both Senior Management Personnel and Key Management Personnel. CDSL also has upcoming investor meetings scheduled with Nippon India Mutual Fund and HDFC Mutual Fund on September 16, 2026, in Mumbai.

- On September 9, 2026, CDSL completed an additional investment of ₹19.20 crore in India International Bullion Holding IFSC Limited (IIBHL).
- On August 24, 2026, CDSL completed an investment of ₹5 crore in ONDC, acquiring a 2.20% stake.
- Smt. Nayana Ovalekar will cease as Chief Regulatory Officer & Compliance Officer on August 31, 2026.
- Shri Farokh Patel has been appointed as Chief Regulatory Officer & Compliance Officer effective September 1, 2026.
- CDSL has scheduled one-on-one meetings with Nippon India Mutual Fund and HDFC Mutual Fund on September 16, 2026.

- CENTRAL DEPOSITORY SERVICES (INDIA) LIMITED has informed the Exchange regarding Update-Acquisition/Scheme/Sale/Disposal-XBRL |SUBJECT: Update-Acquisition (including agreement to acquire)-XBRL
- Central Depository Services (India) Limited has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL
- CENTRAL DEPOSITORY SERVICES (INDIA) LIMITED has informed the Exchange regarding Update-Acquisition/Scheme/Sale/Disposal-XBRL |SUBJECT: Update-Acquisition (including agreement to acquire)-XBRL
- Central Depository Services (India) Limited has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL
- CDSL has informed the Exchange about Schedule of Analyst Call with Lyptus Capital to be held on Friday, September 04, 2026 |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates
- CDSL has informed the Exchange regarding the Allotment of equity shares in Open Network for Digital Commerce (ONDC). |SUBJECT: General Updates
- CDSL has informed the Exchange regarding Outcome of Board Meeting held on August 27, 2026 with respect to Change in Management. |SUBJECT: Outcome of Board Meeting
- CDSL has informed the Exchange about change in Management. |SUBJECT: Change in Management
- Central Depository Services (India) Limited has informed the Exchange regarding Acquisition (including agreement to acquire) |SUBJECT: Acquisition (including agreement to acquire)-XBRL
- CDSL has informed the Exchange about SEBI Approval for investment in Open Network for Digital Commerce (ONDC). |SUBJECT: General Updates

### Fundamentals

Central Depository Services (India) reported revenue from operations of ₹292.76 crore in Q1 FY2026-27. This followed ₹262.85 crore in Q4 FY2025-26 and ₹304.36 crore in Q3 FY2025-26. Income for Q1 FY2026-27 was ₹340.50 crore, compared to ₹268.38 crore in Q4 FY2025-26 and ₹333.60 crore in Q3 FY2025-26. Expenses increased to ₹174.08 crore in Q1 FY2026-27 from ₹163.95 crore in Q4 FY2025-26 and ₹160.45 crore in Q3 FY2025-26. Profit Before Tax (PBT) stood at ₹166.42 crore in Q1 FY2026-27, a decrease from ₹173.15 crore in Q3 FY2025-26, but an increase from ₹104.43 crore in Q4 FY2025-26. Segment Profit Before Tax followed a similar trend, with ₹166.67 crore in Q1 FY2026-27, down from ₹171.93 crore in Q3 FY2025-26, but up from ₹103.22 crore in Q4 FY2025-26. Other Comprehensive Income was -₹1.82 crore in Q1 FY2026-27, a notable shift from ₹3.14 crore in Q4 FY2025-26 and ₹53.97 lakh in Q3 FY2025-26.

Key monitoring areas include the trend in revenue from operations and its conversion into profit before tax, given the fluctuations observed across the reported quarters. The recent increase in expenses warrants attention to understand its impact on profitability. Additionally, the shift in Other Comprehensive Income from positive to negative in the latest quarter is a factor to observe.

- Revenue from operations in Q1 FY2026-27 was ₹292.76 crore.
- Profit Before Tax for Q1 FY2026-27 was ₹166.42 crore.
- Expenses increased to ₹174.08 crore in Q1 FY2026-27.
- Other Comprehensive Income was -₹1.82 crore in Q1 FY2026-27.

### Bull Case

The company's stock exhibits a bullish trend on a monthly timeframe, supported by a Supertrend indicator at ₹746.66. Additionally, the weekly trend is also bullish, with the Supertrend indicator at ₹1177.14. Recent returns show a positive 3-month return of 3% and a 6-month return of 13%. The stock is trading near a resistance level of ₹1395.6, which is 0.4% above its current price.

- Monthly Supertrend indicator is bullish at ₹746.66 as of 2026-09-18.
- Weekly Supertrend indicator is bullish at ₹1177.14 as of 2026-09-18.
- The stock has a 3-month return of 3% and a 6-month return of 13%.
- The current price is 0.4% below the nearest resistance level of ₹1395.6.

- CDSL shares slip 4%; brokerage upgrades stock to 'Buy': Check revised target

### Bear Case

The company's stock has experienced a notable decline over the past year, with a return of -12% as of the latest reporting period. This downward trend is further indicated by a maximum drawdown of -41% and a current drawdown of -23%. Technical indicators on a daily basis show a bearish supertrend direction, with the ADX at 17.27 suggesting a lack of strong trend momentum. While the monthly trend shows a bullish supertrend direction, the daily chart's negative EMA and SMA slopes point to short-term weakness.

- The stock has returned -12% over the past year.
- The maximum drawdown observed is -41%, with a current drawdown of -23%.
- Daily technical indicators show a bearish supertrend direction.
- The ADX on the daily chart is 17.27, indicating weak trend momentum.

- CDSL shares slip 4%; brokerage upgrades stock to 'Buy': Check revised target

### FAQs

**What recent investments has CDSL made?**

CDSL has recently completed two investments. On August 24, 2026, the company invested ₹50,000,000 to acquire a 2.20% stake in ONDC. Additionally, on September 9, 2026, CDSL made an additional investment of ₹19.20 crore in India International Bullion Holding IFSC Limited (IIBHL), following SEBI's approval for an investment of up to ₹20 crore.

**What is the recent analyst and investor engagement for CDSL?**

CDSL has scheduled several meetings with institutional investors and analysts. On September 4, 2026, a virtual one-on-one meeting was held with Mr. Rudy Gopalakrishnan from Lyptus Capital. Further one-on-one meetings are scheduled for September 16, 2026, in Mumbai with representatives from Nippon India Mutual Fund and HDFC Mutual Fund.

**What does the technical analysis indicate about CDSL's recent trend?**

As of September 18, 2026, the daily trend analysis for CDSL shows a closing price of ₹1390.0. The 20-day Exponential Moving Average (EMA) is at ₹1365.66, and the 50-day EMA is at ₹1356.24. The Supertrend indicator is at ₹1408.73, suggesting a bearish direction on a daily basis. However, the weekly trend analysis shows a Supertrend value of ₹1177.14 with a bullish direction.

**How has CDSL's stock performed over different periods?**

As of the latest available data, CDSL's stock has shown varied performance across different timeframes. It has returned 4% in the last month and 13% in the last six months. However, the stock has seen a decline of 12% over the last year and a decrease of 4% year-to-date. Since its inception, the stock has shown a cumulative return of -23%.

- CDSL shares slip 4%; brokerage upgrades stock to 'Buy': Check revised target
- CENTRAL DEPOSITORY SERVICES (INDIA) LIMITED has informed the Exchange regarding Update-Acquisition/Scheme/Sale/Disposal-XBRL |SUBJECT: Update-Acquisition (including agreement to acquire)-XBRL
- Central Depository Services (India) Limited has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL
- CENTRAL DEPOSITORY SERVICES (INDIA) LIMITED has informed the Exchange regarding Update-Acquisition/Scheme/Sale/Disposal-XBRL |SUBJECT: Update-Acquisition (including agreement to acquire)-XBRL
- Central Depository Services (India) Limited has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL
- CDSL has informed the Exchange about Schedule of Analyst Call with Lyptus Capital to be held on Friday, September 04, 2026 |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates
## Technical analytics

- As of: 2026-09-18
- Daily trend: Weak Uptrend
- Weekly trend: Weak Uptrend
- Pivot point: ₹1,334.4
- Risk regime: Price Risk Requires Attention

### Support levels
- 1315.1
- 1233.4203125
- 1153.9125

### Resistance levels
- 1479.975
- 1540.35
- 1572.25

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +3.01% |
| return_10 | -0.29% |
| return_1m | +3.68% |
| return_1y | -12.49% |
| return_20 | +3.28% |
| return_3m | +2.93% |
| return_5 | +2.58% |
| return_6m | +12.68% |
| return_since_start | -23.15% |
| return_ytd | -3.89% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | elevated_risk |
| label | Price risk requires attention |
| summary | Recent drawdown or price variability is high enough to warrant closer monitoring. |
| maximum_drawdown | -41.49% |
| annualized_volatility | +35.91% |

## Quarterly financials

- Latest complete quarter: fy27_q1

# Profit Rebounds Sequentially as Income Growth Outpaces Expenses; Margins Compress Year-Over-Year

Central Depository Services (India) Limited reported a sequential increase in profitability for the first quarter of FY2026-27 (quarter ended 30 June 2026), following a lower result in the previous quarter. Total income rose quarter-over-quarter, growing faster than operating costs and lifting pre-tax profit. On a year-over-year basis, however, profit growth was more modest because expenses expanded at a faster pace than revenue over the past twelve months, narrowing profit margins.

## Revenue and Total Income

Revenue from operations reached ₹292.76 crore in the quarter, up 11.4% from ₹262.85 crore in Q4 FY2025-26 and up 13.1% from ₹258.81 crore in the same quarter last year. When combined with other income of ₹47.74 crore, total income for the period came to ₹340.50 crore. This represents a 26.9% sequential increase and a 15.4% rise compared to the year-ago quarter. Other income made up roughly 14% of total income this quarter. In the prior quarter, total income was ₹268.38 crore while revenue from operations was ₹262.85 crore, indicating a smaller contribution from other income sources.

## Expenses and Profitability

Total expenses for the quarter totaled ₹174.08 crore, reflecting a 6.2% sequential increase from ₹163.95 crore and a 21.2% year-over-year increase from ₹143.61 crore. Within the expense base, employee benefit costs were ₹46.64 crore and depreciation was ₹19.18 crore, together accounting for approximately 38% of total expenses. The remaining ₹108.26 crore consisted of other operating costs. Because total income grew by 26.9% sequentially while expenses grew by only 6.2%, pre-tax profit increased. Profit before tax reached ₹166.42 crore, up 59.4% from ₹104.43 crore in Q4. On a year-over-year basis, pre-tax profit grew 9.8% from ₹151.55 crore, constrained by the faster expansion of expenses relative to income over the longer period. The pre-tax margin stood at 48.9% in the current quarter, up from 38.9% in Q4 but down from 51.4% a year ago.

## Segment Results and Comprehensive Income

Segment profit before tax was recorded at ₹166.67 crore, closely aligning with the total company pre-tax profit of ₹166.42 crore. Separately, the company recognized a ₹25 lakh share of profit from associates and joint ventures. Other comprehensive income for the quarter was a net loss of ₹1.82 crore, which had a minor impact on the overall financial position compared to the underlying operating profit.

## Management Commentary

Management highlighted a strong quarter driven by scale and leadership depth, with new Executive Directors bolstering critical functions. Demand remains robust, as CDSL added 58 lakh new demat accounts, crossing 18.59 crore total, and Assets Under Custody reached ₹88.2 lakh crore. Consolidated total income and net profit both grew 15% YoY, with sharp QoQ improvements. Strategic investments include a stake in Sahamati Foundation and a ₹10 crore investment in IIBHL for bullion infrastructure. The only noted risk is an ongoing arbitral award challenge, which management believes will not impact the books.

## Key Takeaway

The quarter delivered a sequential recovery in profitability, driven by a substantial increase in total income that outpaced the rise in operating costs. Core revenue from operations maintained double-digit growth compared to the prior year. However, the year-over-year comparison highlights that expense growth ran ahead of revenue growth, resulting in narrower profit margins than a year earlier. The contribution from other income and the ongoing gap between expense and revenue growth define the quarter's financial performance.

### Ratios

## Official filings

- 2026-09-10 — Generic Announcement: Central Depository Services (India) Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_15277_WebXMLFile_20260910_174237246.xml)
- 2026-09-10 — Generic Announcement: Central Depository Services (India) Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_15277_WebXMLFile_20260910_174713744.xml)
- 2026-09-02 — Generic Announcement: Central Depository Services (India) Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_15277_WebXMLFile_20260902_111653364.xml)
- 2026-09-01 — Generic Announcement: Central Depository Services (India) Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_15277_WebXMLFile_20260901_180611146.xml)
- 2026-09-01 — Generic Announcement: Central Depository Services (India) Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/CDSL_01092026180205_ConCallInvite_Sept04_2026_Signed.pdf)
- 2026-09-01 — Generic Announcement: Central Depository Services (India) Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/CDSL_01092026193637_NSEIntimationAllotmentONDCsigned.pdf)
- 2026-08-27 — Generic Announcement: Central Depository Services (India) Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/CDSL_27082026140148_Stock_Exchange_intimation_appointment_of_Chief_Regulatory_Officer.pdf)
- 2026-08-27 — Generic Announcement: Central Depository Services (India) Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/CDSL_27082026140343_Stock_Exchange_intimation_appointment_of_Chief_Regulatory_Officer.pdf)
- 2026-08-14 — Generic Announcement: Central Depository Services (India) Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_15277_WebXMLFile_20260814_174359181.xml)
- 2026-08-13 — Generic Announcement: Central Depository Services (India) Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/CDSL_13082026185157_NSEIntimationONDC_Sd.pdf)
- 2026-08-07 — Management Change: Central Depository Services (India) Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/CDSL_07082026155803_NSEintimationtranscript.pdf)
- 2026-08-07 — Generic Announcement: Central Depository Services (India) Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_15277_WebXMLFile_20260807_182305987.xml)
- 2026-08-06 — Generic Announcement: Central Depository Services (India) Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_15277_WebXMLFile_20260806_112930328.xml)
- 2026-08-05 — Generic Announcement: Central Depository Services (India) Limited will attend an Analyst/Investor/Conference Call on Wednesday, August 12, 2026, for the Emkay Confluence 2026 Group Meeting in Mumbai, scheduled from 10:00 AM to 01:00 PM. The company stated that no unpublished price sensitive information will be shared during the meeting. — [Official attachment](https://nsearchives.nseindia.com/corporate/CDSL_05082026191153_ConCallInvite_Aug12_2026_sd.pdf)
- 2026-08-05 — Generic Announcement: Central Depository Services (India) Limited will attend an Analyst/Investor/Conference Call on Monday, August 10, 2026, from 10:00 A.M. to 01:00 P.M. with Nirmal Bang Institutional Equities for a Semi-Annual Investor Conference in Mumbai. No unpublished price sensitive information will be shared during the meeting. — [Official attachment](https://nsearchives.nseindia.com/corporate/CDSL_05082026190701_ConCallInvite_Aug10_2026_sd.pdf)
- 2026-08-03 — Generic Announcement: Central Depository Services (India) Limited uploaded the audio recording of a conference call held on August 03, 2026, to its website. This disclosure is in reference to a previous intimation dated July 28, 2026, regarding the scheduling of the call. The recording can be accessed via a provided link. — [Official attachment](https://nsearchives.nseindia.com/corporate/CDSL_03082026185916_NSEIntimation_Concall_3Aug2026_V2_sd.pdf)
- 2026-08-03 — Generic Announcement: Central Depository Services (India) Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_15277_WebXMLFile_20260803_190452869.xml)
- 2026-08-02 — Generic Announcement: Central Depository Services (India) Limited (CDSL) published its consolidated and standalone audited financial results for the quarter ended June 30, 2026, on August 2, 2026, in the Financial Express and Loksatta newspapers. The company also made this information available on its website, www.cdslindia.com. — [Official attachment](https://nsearchives.nseindia.com/corporate/CDSL_02082026115833_NSEIntimation_Financial_Results.pdf)
- 2026-08-01 — Press Release: Central Depository Services (India) Limited (CDSL) announced its audited financial results for the quarter ended June 30, 2026. Consolidated total income and net profit grew 15% year-over-year, with consolidated total income increasing 27% and net profit up 47% quarter-over-quarter. Assets Under Custody (AUC) reached ₹88.2 Lakh Crore, and CDSL registered over 18.59 crore demat accounts. — [Official attachment](https://nsearchives.nseindia.com/corporate/CDSL_01082026133248_NSEIntimation_PressRelease.pdf)
- 2026-08-01 — Generic Announcement: Central Depository Services (India) Limited updated its list of Designated Officers authorized to determine the materiality of events and information for stock exchange disclosures, effective August 1, 2026. This update, made in compliance with SEBI Listing Regulations, includes Nehal Vora (MD & CEO), Amit Mahajan (Executive Director), Nayana Ovalekar (Executive Director), Girish Amesara (CFO), and Nilay Shah (Company Secretary & Compliance Officer). — [Official attachment](https://nsearchives.nseindia.com/corporate/CDSL_01082026124930_NSE_Intimation_Material_Events_Sd.pdf)
- 2026-08-01 — Generic Announcement: Central Depository Services (India) Limited (CDSL) has submitted an investor presentation for the quarter ended June 30, 2026. The company reported receiving a dividend of ₹39.50 crore from its subsidiary in Q1 FY27, a decrease from ₹62 crore in Q1 FY26. The presentation also highlights key financial metrics and operational milestones, including crossing 100 million demat accounts and introducing various digital services. — [Official attachment](https://nsearchives.nseindia.com/corporate/CDSL_01082026134647_NSEIntimation_InvestorPresentation.pdf)
- 2026-08-01 — Generic Announcement: Central Depository Services (India) Limited (CDSL) has allotted 10,00,00,000 equity shares of ₹1 each to India International Bullion Holding IFSC Limited (IIBHL) on July 31, 2026. This allotment, amounting to ₹10,00,00,000, represents a 20% equity stake in IIBHL, following SEBI's approval for further investment. — [Official attachment](https://nsearchives.nseindia.com/corporate/CDSL_01082026105606_NSE_Intimation_Allotment_NS.pdf)
- 2026-08-01 — Generic Announcement: Central Depository Services (India) Limited's Board of Directors approved the audited standalone and consolidated financial results for the quarter ended June 30, 2026, on August 1, 2026. The statutory auditors issued an unmodified opinion on these results. For the quarter, standalone net profit after tax was ₹144.45 crore, and consolidated net profit after tax was ₹117.67 crore. The company also noted that an Arbitral Award concerning Anugrah Stock & Broking Private Limited is pending before the Bombay High Court, with the company assessing no impact on its accounts. — [Official attachment](https://nsearchives.nseindia.com/corporate/CDSL_01082026123922_OutcomeBM01082026_Sd.pdf)
- 2026-08-01 — Official Filing: CENTRAL DEPOSITORY SERVICES (INDIA) LIMITED (CDSL) invested ₹10 crores on July 31, 2026, acquiring a 20% equity stake in India International Bullion Holding IFSC Limited (IIBHL) through a rights issue. This investment is the first tranche of an approved additional investment of ₹20 crores in IIBHL. SEBI had previously approved this additional investment on July 09, 2026.
- 2026-07-31 — Official Filing: Central Depository Services (India) Limited reported the appointment of Mrs. Geetha Gangadharan as a Non-Executive Non-Independent Director, effective July 30, 2026, for a term of 1 month. Concurrently, Ms. Kamala Kantharaj ceased to be a Non-Executive Non-Independent Director due to superannuation or retirement, also effective July 30, 2026.

## News and market events

- 2026-09-15 — BUSINESSTODAY: **CDSL shares slip 4%; brokerage upgrades stock to 'Buy': Check revised target** — CDSL, CDSL shares, Why CDSL falling, CDSL target price, CDSL should you buy, CDSL stock upgrade, CDSL share price, CDSL stock price, CDSL stock — [Source](https://www.businesstoday.in/markets/stocks/story/cdsl-shares-slip-4-brokerage-upgrades-stock-to-buy-check-revised-target-555672-2026-09-15)
- 2026-09-10 — Economic Times: **CDSL’s IPO jackpot comes with a valuation catch. Jefferies sets Rs 1,315 target** — Jefferies retained a Hold on CDSL with a Rs 1,315 target, implying 7% downside from Rs 1,414.90. While the IPO revival could add 3–4% to earnings, CDSLs EPS is expected to grow 19% CAGR over two years, driven by new demat accounts, IPO income and margin expansion. — [Source](https://economictimes.indiatimes.com/markets/ipos/fpos/cdsls-ipo-jackpot-comes-with-a-valuation-catch-jefferies-sets-rs-1315-target/articleshow/133995280.cms)
- 2026-09-10 — CNBC-TV18: **CDSL earnings may get a boost as per Jefferies but no upgrades in sight - Explained** — CDSL is currently trading at 50 times its one-year forward estimated Earnings Per Share (EPS), which is well below its historical peak multiples of 80 times. — [Source](https://www.cnbctv18.com/market/cdsl-share-price-earnings-may-get-a-boost-but-jefferies-not-wanting-to-upgrade-explained-19988105.htm)
- 2026-09-08 — BUSINESSTODAY: **NSDL, Protean eGov, CDSL: Stocks to trade ahead of NSE IPO— Key levels, target prices & stop loss** — Stocks to buy, Stock picks, Stocks to trade, trading views, Protean eGov Technologies, Central Depository Services (India), National Securities Depository, Protean eGov shares, CDSL shares, NSDL shares, Protean eGov share price, CDSL share price, NSDL share price, Protean eGov stock price, CDSL stock price, NSDL stock price, Protean eGov target price, CDSL target price, NSDL target price — [Source](https://www.businesstoday.in/markets/stocks/story/nsdl-protean-egov-cdsl-stocks-to-trade-ahead-of-nse-ipo-key-levels-target-prices-stop-loss-553808-2026-09-08)
- 2026-08-13 — Mint: **Stocks to buy for short term: BoB among 3 shares Amol Athawale of Kotak Securities recommends for next 1-2 weeks** — Amol Athawale identifies three stocks poised for growth in the next 1-2 weeks, including Bank of Baroda and Prestige Estates. Learn crucial price levels to watch. — [Source](https://www.livemint.com/market/stock-market-news/stocks-to-buy-for-short-term-bank-of-baroda-among-3-shares-amol-athawale-of-kotak-securities-recommends-11786589998068.html)
- 2026-08-05 — Mint: **Buy or sell: Gift Nifty signals a gap-up start! Vaishali Parekh recommends three intraday stocks to buy today** — Buy or sell stocks: Vaishali Parekh recommends three intraday stocks to buy today — CDSL, Sharda Cropchem, and Bajaj Consumer Care — [Source](https://www.livemint.com/market/stock-market-news/buy-or-sell-gift-nifty-signals-a-gap-up-start-vaishali-parekh-recommends-three-intraday-stocks-to-buy-today-11785893861305.html)
- 2026-08-04 — MONEYCONTROL: **Neutral CDSL; target of Rs 1200: Motilal Oswal** — CDSL, Motilal Oswal, Recommendations, Neutral — [Source](https://www.moneycontrol.com/news/business/neutral-cdsl-target-of-rs-1200-motilal-oswal-13994296.html)
- 2026-08-03 — CNBC-TV18: **Sensex Today | Stock Market Live Updates: Nifty bulls set sights on 24,500 amidst crude cool-off, FCNR inflows** — Sensex Today | Stock Market Live Updates: The bulls, having ended the week with gains will now be eyeing two levels on the upside, 24,467, which is the recent swing high, and 24,500, which has been a psychological barrier, before the positional swing high of 24,601 could be retested. The Nifty Bank though, continues to struggle with 57,500 continuing to act as a hurdle. — [Source](https://www.cnbctv18.com/market/stock-market-live-updates-sensex-nifty-50-today-oil-fcnr-rupee-itc-maruti-autos-ioc-divis-zee-stl-banks-share-price-liveblog-19959976.htm)
- 2026-08-01 — Economic Times: **CDSL Q1 Results: Net profit rises 15% YoY to Rs 118 crore, revenue up 13%** — The Indian central securities depositorys revenue from operations meanwhile increased more than 13% YoY to Rs 293 crore during the quarter under review, from Rs 259 crore reported in the year-ago period — [Source](https://economictimes.indiatimes.com/markets/stocks/earnings/cdsl-q1-results-net-profit-rises-15-yoy-to-rs-118-crore-revenue-up-13/articleshow/132786509.cms)
- 2026-08-01 — CNBC-TV18: **CDSL Q1 results: Net profit rises 15%, demat accounts cross 18.59 crore** — CDSL reports 15% net profit jump to ₹118 crore in Q1 FY27, total income up 15%, crosses 18.59 crore demat accounts. — [Source](https://www.cnbctv18.com/market/earnings/cdsl-q1-results-net-profit-rises-demat-accounts-cross-18-crore-19959552.htm)
- 2026-07-24 — Economic Times: **Dixon Technologies, Paras Defence among 14 new stocks added by this one-year topper mutual fund in June** — TRUSTMF Small Cap Fund, the best-performing equity mutual fund over the past one year with a 21.98% return, added Dixon Technologies (India), Paras Defence and Space Technologies and 14 other stocks to its portfolio in June. The fund also exited 13 stocks while increasing exposure to several others, according to its latest monthly factsheet. — [Source](https://economictimes.indiatimes.com/mf/analysis/dixon-technologies-paras-defence-among-14-new-stocks-added-by-this-one-year-topper-mutual-fund-in-june/articleshow/132597567.cms)
- 2026-07-21 — Mint: **Stocks to watch: Bajaj Auto, Adani Energy, Paytm among shares in focus today; check list here** — Stock market today: Gift Nifty was trading near the 24,154 mark, down over 105 points from the previous close of Nifty futures. — [Source](https://www.livemint.com/market/stock-market-news/stocks-to-watch-bajaj-auto-adani-energy-paytm-among-shares-in-focus-today-check-list-here-11784599165925.html)
- 2026-07-21 — The Hindu: **Why these 10 stocks will be in focus on Tuesday** — TAFE, CDSL, SPML Infra, Emcure Pharma, Redington, Wanbury, RITES, KCP Sugar, Mafatlal and Monarch Surveyors will be in focus today — [Source](https://www.thehindubusinessline.com/markets/why-these-10-stocks-will-be-in-focus-on-tuesday/article71247877.ece)
- 2026-07-21 — Economic Times: **Sebi imposes ₹1-cr fine on CDSL** — The Securities and Exchange Board of India fined CDSL one crore rupees. This penalty addresses cybersecurity and operational lapses following a malware attack. The depository failed to adequately secure critical systems, which disrupted operations. CDSL's systems were isolated from the market after the incident. No monetary penalty was imposed on former top officials. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/sebi-imposes-1-cr-fine-on-cdsl/articleshow/132526281.cms)
- 2026-07-20 — CNBC-TV18: **SEBI fines CDSL ₹1 crore over cybersecurity lapses linked to 2022 malware attack** — The regulator said CDSL had failed to classify an internet-facing server as a critical asset and had not addressed cybersecurity deficiencies flagged months before the attack. — [Source](https://www.cnbctv18.com/market/sebi-fines-cdsl-1-crore-cybersecurity-lapses-2022-malware-attack-19950027.htm)
- 2026-07-20 — The Hindu: **SEBI fines CDSL, two former executives over 2022 malware attack lapses** — SEBI penalizes CDSL and former executives for cybersecurity failures that led to a 2022 malware attack disrupting operations. — [Source](https://www.thehindubusinessline.com/markets/sebi-fines-cdsl-two-former-executives-over-2022-malware-attack-lapses/article71246046.ece)
- 2026-07-20 — News18: **Sebi Slaps Rs 1 Crore Penalty On CDSL Over 2022 Malware Attack, Cybersecurity Failures** — The market regulator said CDSL failed to fix key cybersecurity gaps despite prior warnings, with the November 2022 malware attack disrupting settlement, critical depository ops. — [Source](https://www.news18.com/business/markets/sebi-slaps-rs-1-crore-penalty-on-cdsl-over-2022-malware-attack-cybersecurity-failures-10223755.html)
- 2026-07-12 — Orissa POST: **FPIs reverse four-month selling trend with Rs 15,157 cr inflow in July - OrissaPOST** — New Delhi: After four straight months of selling, foreign investors turned net buyers of Indian equities in July, investing over Rs 15,157 crore so far this month, supported by improving domestic macroeconomic indicators, a stable rupee and better global risk sentiment. The latest inflow follows net outflows of Rs 49,340 crore in June, Rs 32,963 […] — [Source](https://www.orissapost.com/fpis-reverse-four-month-selling-trend-with-rs-15157-cr-inflow-in-july)

## Business profile

**Strategic vision:** Provides depository services for securities in dematerialized form.

### Business segments
- **Depository Services:** Facilitates the holding and transactions of various types of securities in dematerialized form, including equity shares, debt instruments, and mutual fund units.

### Competitive strengths
- Operates as a critical Market Infrastructure Institution within the Indian capital market.
- Provides essential post-trade market infrastructure for efficient and secure handling of securities.

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## Freshness and sources

- Data as of: 2026-09-18
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/cdsl
Markdown representation: https://faxioms.com/stocks/cdsl?render=md