There was a sharp drop in CDSL (Central Depository Services Ltd) shares today when early trade saw them down around 6 percent. The state of play is such that a big block deal involving 1 crore shares — that’s 9.6 percentage points of equity of the company — was concluded on March 27. This transaction was worth R1,798.75 crore and helped keep CDSL on its downwards path.
CDSL shares were trading at Rs 1,701.90 10:20 AM today, 5% below their previous day’s closing.
Reports indicate that the lender’s corporate banking section had plans to divest its entire 7.18 percent stake in CDSL. Standard Chartered, the lender in question, aims to generate at least $151 million from this transaction, according to sources cited in the report.
CDSL holds a prominent position as one of the two depositories in India, distinguishing itself as the sole depository listed on the bourses.
