Strong Q4 Earnings Propel CDSL to 52-Week High: Investment Analysis for the Coin (CDSL)

• Central Depository Services’ share price surged over 5% on Monday, reaching a 52-week high following the company’s robust Q4FY24 results.
• The leading depository reported a net profit of ₹129 crore for the quarter ended March, doubling its profit from the same quarter last year.
• The total income increased by 86% from ₹144 crore in the same period last year to ₹267 crore in the March quarter of 2023–24.

Central Depository Services (CDSL) sees a surge in share price following impressive Q4FY24 results, with a net profit doubling from the same quarter last year.

Impressive Q4FY24 Results Drive Share Price Surge

Central Depository Services (India) Ltd (CDSL) reported a net profit of ₹129 crore for the quarter ended March, a significant increase from the ₹63 crore net profit reported during the same quarter last year. This robust performance has driven a surge in the company’s share price, which opened at ₹2,185 apiece on NSE, reaching an intraday high of ₹2,199.90.

Positive Outlook for CDSL

According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, the stock has been in a s... Read the full article for FREE at COINOTAG!