After Central Depository Services Limited (CDSL) announced via an exchange filing that it is considering issuing bonus shares, the company’s shares jumped 14% in trading today to reach a new record high of ₹2,324.80 per share.
The Board of Directors is set to convene on Tuesday, July 2, 2024, to discuss and possibly approve the proposal.
In an exchange filing, the company stated, “Meeting of the Board of Directors of Central Depository Services (India) Limited (“CDSL/Company”) is scheduled to be held on Tuesday, July 02, 2024, inter alia, to consider and approve the proposal for issuance of bonus shares, if any, subject to the approval of the shareholders of the company.”
If granted, this would be CDSL’s first issuance of bonus shares, based on exchange data. CDSL, along with National Securities Depository Ltd. (NSDL), is one of India’s two leading depositories, facilitating the electronic storage and exchange of assets as well as transaction settlement through Demat accounts.
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