NSDL share price: Shares of National Securities Depository Limited (NSDL) have been in an uptrend since their stock market debut last week on August 6. NSDL share price jumped another 9.6% in intraday trade today, August 11, to a fresh high, extending its gains to the fourth straight session. During this period, it has offered investors a whopping 78% return on their bet on its initial public offering (IPO).
NSDL shares had a positive debut on the exchange last week. On BSE, NSDL share price opened at ₹880 per share, 10% higher than the issue price of ₹800. The depository stock ended the listing day at ₹936 on BSE, a 17% premium to the IPO price of ₹800.
NSDL IPO had also received a strong response from investors, receiving 41 times bids. The retail investor segment was subscribed 7.73 times. The non-institutional investor (NII) quota saw a subscription rate of 34.98 times. Meanwhile, the portion reserved for qualified institutional buyers (QIBs) was booked at 103.97 times. The employee segment witnessed a subscription rate of 15.42 times.
Why is NSDL stock rising?
NSDL is well-poised to benefit from the country’s growing retail investor base, which has surged by 55% in the last two years, said Harshal Dasani, Business Head at INVasset PMS.
Moreover, the government’s push for digital financial services offers a strong tailwind for NSDL’s growth, positioning the company for long-term expansion, he added.
Is NSDL a good stock to buy now?
According to Dasani, while NSDL’s long-term growth prospects are compelling, investors should be cautious of short-term volatility, particularly given its post-IPO price movement.
“Long-term investors can consider holding the stock, but for short-term investors, waiting for potential corrections could provide an opportunity to enter at a more attractive valuation,” he opined.
(This is a developing story. Check back for updates)
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
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