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NSDL shares surge 11% intraday on BSE, stock up over 60% since listing; here's why
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3 min read | Updated on August 21, 2025, 12:59 IST
SUMMARY
NSDL shares surged over 11% intraday on BSE amid strong investor interest post stock market debut and strong June quarter results. The stock hit an all-time high of ₹1,425 and gained over 70% from its ₹800 issue price. In Q1FY25, NSDL reported ₹90 crore profit, up 15% YoY, despite a 7% drop in revenue.
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NSDL stock made an all-time high of ₹1,425 per share on August 11, gaining over 78% compared to IPO issue price of ₹800. | Image: Shutterstock
NSDL shares rose over 11% intraday on Bombay Stock Exchange (BSE) today. The company, which offers depository services to market participants, has witnessed strong investor traction since its listing earlier this month. As of 12:30 pm, the stock is trading around ₹1,270 apiece, up 6.5% on BSE.
NSDL stock which made an all-time high of ₹1,425 per share on August 11 has gained over 78% compared to IPO issue price of ₹800 per share. Since listing at ₹880 apiece on August 6, the stock has gained over 61%.
NSDL Q1FY25 results
National Securities Depository Limited (NSDL) reported a consolidated net profit of ₹90 crore in the first quarter of current financial year (Q1FY26), marking an increase of 15% from ₹78 crore during the same period last year. Meanwhile, its revenue from operations declined 7% YoY to ₹312 crore from ₹337 crore in the year-ago period.
During the June quarter, NSDL earned ₹161 crore from depository business, ₹18 crore from database management services and ₹133 crore from banking services. The company earned majority of its profit, around ₹80 crore from its depository business.
NSDL IPO was open for subscription between July 30 to August 1 to raise ₹4,010.9 crore via complete offer-for-sale. Since listing, NSDL has witnessed strong gains in stock price, rising over 52% in the first three days of listing.
NSDL vs CDSL FY25 comparison
| Metric (₹ crore) | NSDL | CDSL |
|---|---|---|
| Revenue | ₹1,420.15 | ₹1,082.21 |
| PAT | ₹343.12 | ₹526.33 |
| EBITDA | ₹492.94 | ₹743.99 |
| PAT Margin (%) | 22.35% | 48.63% |
| ROE (%) | 17.11% | 29.90% |
| Net Worth | ₹2,005.34 | ₹1,760.35 |
In FY25, NSDL revenue stood at ₹1,420.15 crore, higher than CDSL’s ₹1,082.21 crore, indicating strong topline performance by NSDL. However, when it comes to profitability, CDSL outperformed significantly. CDSL reported a profit after tax (PAT) of ₹526.33 crore, much higher than NSDL’s ₹343.12 crore, despite the latter generating more revenue. CDSL PAT margin of 48.6% is more than double compared to NSDL highlighting superior operational efficiency and cost management.
Key operational metrics
| Metric (FY25 in crore) | NSDL | CDSL |
|---|---|---|
| Total demat accounts | 3.95 | 15.30 |
| Individual & HUF accounts | 3.93 | 15.29 |
| Non-Individual accounts | .0018 | .0010 |
| Demat custody value | ₹4,64,16,404 | ₹70,52,402 |
| Avg. custody value per demat account (Nos) | 1.18 | 0.05 |
| Total quantity of securities held in demat | 4,75,869 | 83,599 |
| DP service centres (Nos) | 65,391 | 18,918 |
CDSL leads in account volumes with total number of demat accounts at 15.3 crore compared to NSDL’s 3.95 crore, largely driven by higher retail and HUF participation. However, NSDL holds a significantly higher demat custody value at ₹4,64,16,404 crore versus CDSL’s ₹70,52,402 crore, indicating its stronger institutional client base.
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