HDFC Bank sells CDSL shares worth Rs 185 crore
HDFC Bank sells CDSL shares worth Rs 185 crore

Private sector lender HDFC Bank on Tuesday offloaded leading depository CDSL's shares worth a little over Rs 185 crore through an open market transaction.

According to bulk deal data available with the NSE, the bank sold 19.80 lakh shares of Central Depository Services (India) Ltd at Rs 936.39 apiece. This valued the transaction at Rs 185.4 crore.

Meanwhile, PPFAS Mutual Fund lapped up 15,90,764 shares of the depository at an average price of Rs 937.34 aggregating the transaction size to Rs 149.10 crore.

CDSL settled at Rs 970.50 a shares on the National Stock Exchange (NSE), down 2.34 per cent from the previous close.

For the full year ended March 31, 2021, the depository registered an 89 per cent increase in profit after tax to Rs 201.27 crore. The same had stood at Rs 106.72 crore in 2019-20.

Total income in 2020-21 climbed 41 per cent to Rs 400.63 crore, from Rs 284.25 crore in the preceding fiscal.

CDSL, which allows investors to deposit securities by opening an account in an electronic (dematerialised) form, gets its revenues from transaction charges, account maintenance charges and settlement charges paid by depository participants.

It also receives annual fees, corporate action and e-voting charges paid by companies whose securities are admitted in the depository's system.

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Free Press Journal