NSDL shares list at 10% premium, close higher
National Securities Depository Ltd
made its
market debut
at ₹880 Wednesday, a 10% premium to its IPO price. The stock ended 17% higher than issue price at ₹936.
"The listing is in line with expectations, as there was strong demand during the IPO and many investors who did not get allotment may try to add the stock in the portfolio," said Sunny Agrawal, head of fundamental equity research, SBICAPS Securities.
Productivity Tool
Zero to Hero in Microsoft Excel: Complete Excel guide
By Metla Sudha Sekhar
View Program
Finance
Introduction to Technical Analysis & Candlestick Theory
By Dinesh Nagpal
View Program
Finance
Financial Literacy i e Lets Crack the Billionaire Code
By CA Rahul Gupta
View Program
Digital Marketing
Digital Marketing Masterclass by Neil Patel
By Neil Patel
View Program
Finance
Technical Analysis Demystified- A Complete Guide to Trading
By Kunal Patel
View Program
Productivity Tool
Excel Essentials to Expert: Your Complete Guide
By Study at home
View Program
Artificial Intelligence
AI For Business Professionals Batch 2
By Ansh Mehra
View Program
The widely-watched ₹4,012-crore IPO of the depository, which was priced at ₹800 per share, was subscribed 41 times with strong appetite from institutions and rich investors. Before
NSDL
,
HDB Financial
and
Hexaware Tech
were two big-ticket IPOs that made listing gains of around 13% and 5%, respectively.
The market infrastructure institution had a market capitalisation of ₹18,720 crore on Wednesday while its larger peer, Central Depository Services (India) Ltd's market value is nearly double - at ₹32,280.1 crore.
Analysts said in a duopoly market, NSDL being the largest player in terms of demat value (86.8% in total demat value) is a proxy play on the growth story of capital market of India. 'NSDL is trading at relatively cheaper valuation compared with CDSL; At IPO issue price, NSDL was trading at FY25 Price to Earnings multiple of 47 times compared with 67 times for CDSL,' said Agrawal. 'We believe from a short-term perspective gains can sustain.' Despite cheaper valuations, investors need not be in a hurry to buy
NSDL shares
afresh. 'For investors who did not receive allotment in the IPO, a wait and watch approach is advised because post-listing dips could offer a more attractive entry point,' said Prashanth Tapse, Senior VP (Research), Mehta Equities.
Live Events
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
an hour ago
- Time of India
Trump doubles reward to $50 million for arrest of Venezuela's president to face US drug charges
The Trump administration is doubling to $50 million a reward for the arrest of Venezuela's President Nicolas Maduro , accusing him of being one of the world's largest narco-traffickers and working with cartels to flood the U.S. with fentanyl-laced cocaine . "Under President Trump's leadership, Maduro will not escape justice and he will be held accountable for his despicable crimes," Attorney General Pam Bondi said Thursday in a video announcing the reward. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program Maduro was indicted in Manhattan federal court in 2020, during the first Trump presidency, along with several close allies on federal charges of narco-terrorism and conspiracy to import cocaine. At the time, the U.S. offered a $15 million reward for his arrest. That was later raised by the Biden administration to $25 million - the same amount the U.S. offered for the capture of Osama bin Laden following the Sept. 11, 2001, attacks. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like With temperatures hitting 95°F, this is the mini air conditioner everyone's buying in the U.S News of the Discovery Despite the big bounty, Maduro remains entrenched after defying the U.S., the European Union and several Latin American governments who condemned his 2024 reelection as a sham and recognized his opponent as Venezuela's duly elected president. Last month, the Trump administration struck a deal to secure the release of 10 Americans jailed in the capital, Caracas, in exchange for Venezuela getting home scores of migrants deported by the United States to El Salvador under the Trump administration's immigration crackdown. Shortly after, the White House reversed course and allowed U.S. oil producer Chevron to resume drilling in Venezuela after it was previously blocked by U.S. sanctions . Live Events Bondi said the Justice Department has seized more than $700 million in assets linked to Maduro, including two private jets, and said 7 million tons of seized cocaine had been traced directly to the leftist leader. Venezuelan Foreign Minister Yvan Gil released a statement characterizing the reward as "pathetic" and accusing Bondi of orchestrating a "crude political propaganda operation." "We're not surprised, coming from whom it comes from. The same one who promised a nonexistent 'secret list' of Epstein and who wallows in scandals for political favors," Gil said, referring to the backlash Bondi faced after the Justice Department announced last month that a long-rumored "client list" of convicted sex offender Jeffrey Epstein does not exist. "Her show is a joke, a desperate distraction from her own misery."
Time of India
an hour ago
- Time of India
Gold futures hit record high after US tariff report
Gold futures jumped to a fresh high on Friday following a report that the United States has imposed tariffs on imports of one-kilo gold bars , while spot gold was headed for a second straight weekly rise on tariff turmoil and U.S. interest rate-cut hopes. FUNDAMENTALS Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program * Spot gold was down 0.2% at $3,389.37 per ounce, as of 0104 GMT, after hitting its highest since July 23 earlier in the session. Bullion is up 0.8% so far this week. * U.S. gold futures for December delivery were up 1.6% at $3,509.10, after hitting an all-time high of $3,534.10. * The United States has imposed tariffs on imports of one-kilo gold bars, the Financial Times reported on Thursday, citing a letter from Customs Border Protection. Live Events * The letter, dated July 31, said one-kilo and 100-ounce gold bars should be classified under a customs code subject to levels, according to the newspaper, which added that the move could impact Switzerland, the world's largest refining hub. * U.S. President Donald Trump's higher tariffs on imports from dozens of countries kicked in on Thursday, leaving major trade partners such as Switzerland, Brazil and India hurriedly searching for a better deal. * Gold is often used as a safe store of value during times of political and financial uncertainty. * SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings rose 0.66% to 959.09 metric tons on Thursday from 952.79 tons on Wednesday. * Last week, weaker U.S. payrolls data boosted rate-cut bets, with the market now pricing in an over 91% chance of a 25-basis-point reduction next month, as per CME Group's FedWatch Tool. * Risks to the job market have increased, but it remains too soon to commit to rate cuts before the next meeting of the Federal Reserve, with key data still to come and inflation still expected to rise in coming months, Atlanta Fed President Raphael Bostic said. * Elsewhere, spot silver fell 0.3% to $38.19 per ounce, platinum rose 1.3% to $1,350.98 and palladium eased 0.4% to $1,146.48.
Time of India
an hour ago
- Time of India
S&P 500 eases with Eli Lilly; Nasdaq manages record closing high
The Dow and S&P 500 eased on Thursday, as shares of Eli Lilly dropped after data from its oral weight loss drug disappointed, while the Nasdaq eked out a record closing high. Just before the session's end, U.S. President Donald Trump said he will nominate Council of Economic Advisors Chairman Stephen Miran to serve out the remaining term of Federal Reserve Governor Adriana Kugler. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 15 most beautiful women in the world Undo Miran is due to serve in the role until January 31, 2026, while Trump continues a search for a permanent replacement. Earlier, investors digested a Bloomberg report that Fed Governor Christopher Waller was Trump's top candidate for the U.S. central bank's chair post. Trump has been critical of current Chair Jerome Powell for holding off on cutting borrowing costs. Live Events Eli Lilly, which also raised its full-year profit and sales forecast, fell after the orforglipron drug data. The stock ended down 14.1%. Shares of Fortinet also fell, with the stock finishing 22% lower, after the cybersecurity firm gave a revenue forecast below Wall Street estimates. "The market rally is beginning to look a little bit tired here. We ran up on earnings, and of course the market was basically ignoring a lot of the tariff news," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. Trump's higher tariffs on imports from dozens of countries kicked in on Thursday, raising the average U.S. import duty to its highest in a century. The Dow Jones Industrial Average fell 224.48 points, or 0.51%, to 43,968.64, the S&P 500 lost 5.06 points, or 0.08%, to 6,340.00 and the Nasdaq Composite gained 73.27 points, or 0.35%, to 21,242.70. The S&P 500 has hit 15 record closing highs this year, while the Nasdaq has posted 17 all-time closing highs so far in 2025. Among other decliners, chipmaker Intel was down 3.1% after Trump called for the immediate resignation of new Intel CEO Lip-Bu Tan, calling him "highly conflicted" due to his ties to Chinese firms. Helping the Nasdaq, Apple shares rose 3.2% after the latest tariff salvo from Trump largely exempted industry heavyweights from his threat to impose 100% levy on chips and semiconductors. The U.S. president announced a tariff of about 100% on imports of semiconductors, but said it would not apply to companies that are manufacturing in the U.S. or have committed to do so. Rate cut expectations remained largely the same after the day's data on the labor market. Weekly initial jobless claims rose 7,000 to a seasonally adjusted 226,000, the highest level since the week ended July 5 and slightly above the 221,000 estimate of economists polled by Reuters, according to the data. Market expectations for a September rate cut of at least 25 basis points from the Fed stood at 93.2%, down slightly from the 94.6% in the prior session and well above the 37.7% from a week ago, according to CME's FedWatch Tool. Declining issues outnumbered advancers by a 1.01-to-1 ratio on the NYSE. There were 232 new highs and 80 new lows on the NYSE. On the Nasdaq, 1,944 stocks rose and 2,622 fell as declining issues outnumbered advancers by a 1.35-to-1 ratio. Volume on U.S. exchanges was 17.40 billion shares, compared with the 18.23 billion average for the full session over the last 20 trading days.
