Shares of newly listed Central Depository Services (India) Ltd (CDSL) surged nearly 14% due to heavy volumes. At 1452 hours the shares of the company were trading at Rs 332.70 per piece, up 13.20% or Rs 38.80 on NSE. 

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During the intraday trade, the shares have touched a high of Rs 344.80 per piece, which is 38% higher than its listing price and 131.4% up from its issue price. 

BSE subsidiary, CDSL was the first depository company to be listed on markets. Last week, the company debuted on NSE at a premium of over Rs 100 at Rs 250 per share as against the issue price of Rs 145-149 apiece. 

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From the beginning of CDSL's listing buzz, the company had received a thumbs-up from investors. 

Payal Pandya and Siddhartha Khemka, analysts at Centrum Wealth Research said, “Given the current decent financials such as high margins, healthy return ratios, free cash flow generation and strong balance sheet, the issue may attract good subscription in the current market scenario where there is lot of buying interest in primary as well as secondary offerings.”

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Krishna Rana, Analyst at Sushil Finance, had said, "We feel this is an excellent oligopolistic business which generates high amount of cash year on year. The definite earning visibility and Long runway of growth opportunities is likely to give this company a premium on listing."