On the other hand, ICICI Pru Tech fund has bought 5.28 lakh shares in CDSL, which comes to about 0.5%, bulk deals data showed. The stake sale was done to comply with regulatory norms, under which a stock exchange is only allowed to hold a 15% stake in a depository.
CDSL, which allows investors to deposit securities by opening an account in electronic form (dematerialised), gets its revenues from transaction charges, account maintenance charges, and settlement charges paid by depository participants as well as annual fees, corporate action and e-voting charges paid by companies whose securities are admitted in the depository’s systems.
On Wednesday, CDSL shares closed 2.86% lower at Rs 1,017 apiece on NSE. The stock has lost nearly 12% on a year-to-date basis.
Meanwhile, separate deals on BSE showed that ace investor Madhuri Kela, wife of Madhusudan Kela, has picked up a stake in Sangam India. Madhuri Kela has bought 8.4 lakh shares or 1.67% stake in Sangam India at a weighted average price of Rs 268 per share.
As per corporate shareholdings filed for March 2023, madhuri madhusudan kela publicly holds 4 stocks with a net worth over Rs 65 crore.
Sangam (India) manufactures, exports and supplies textiles. The company is the largest producer of PV dyed yarn in Asia at a single location and is a forerunner in manufacturing ready to stitch fabric with the annual capacity to produce 30 million meters of fabric and 48 million meters of denim.The company’s shares rallied nearly 20% on Wednesday at Rs 338.15 on NSE. The stock is up about 41% on a year-to-date basis
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