Asia’s only listed depository, Central Depository Services Ltd (CDSL) surpassed 15 crore demat accounts, reflecting strong retail investor participation. However, brokerages B&K Securities and Nuvama downgraded the stock, citing weak secondary market volumes. CDSL’s Q3 FY25 net profit rose 21% to ₹130 crore, while total income surged 30% to ₹278 crore. New demat account openings slowed, raising concerns over future growth momentum.
