Synopsis
BV Chaubal, Chairman, CDSL said it is reassuring to note that the focus of registration of new Demat accounts is shifting from metros to tier II and tier III cities, which is indicative of the broadening of the Indian Capital Market.
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New Delhi: Central Depository Services (India) Limited (CDSL) has opened more than six crore (60 million) active Demat accounts, the company said in a release on Tuesday. CDSL is the only listed depository in the country.
BV Chaubal, Chairman, CDSL said it is reassuring to note that the focus of registration of new Demat accounts is shifting from metros to tier II and tier III cities, which is indicative of the broadening of the Indian Capital Market.
“While we are now at 6 crore Demat accounts, our Demat accounts are still at a fraction of the entire population and thus, there is an immense opportunity of growth,” he added.
To celebrate this milestone, the company organised an event, which was graced by the Shri Ananta Barua, Whole Time Member, SEBI and other senior dignitaries from SEBI, and various market participants.
Since the start of the pandemic, a number of retail investors that have flocked to the Indian stock market has risen sharply and is expected to further grow in lieu of the much-awaited IPO of Life Insurance Corporation (LIC) of India.
The leading depository had reported a 55 per cent jump in consolidated net profit to Rs 83.63 crore for the three months ended December 31. It had posted a net profit of Rs 54.03 crore in the same quarter of the preceding fiscal.
The company’s total income rose 58 per cent to Rs 162.93 crore in the quarter under review, from Rs 103.2 crore in the year-ago period.
Commenced in 1999, CDSL facilitates holding and transacting in securities in the electronic form and facilitates settlement of trades on stock exchanges.
Major shareholders of CDSL include BSE, Standard Chartered Bank, PPFAS Mutual Fund, HDFC Bank and LIC. CDSL along with its subsidiaries also provides a host of services to the financial intermediaries and markets.
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