BSE, CDSL shares gave multibagger returns in 6 months, should you buy?

Multibagger Stock: Shares of Central Depository Services Limited (CDSL) rose over 5% in early deals on Monday on the NSE, while shares of the stock exchange Bombay Stock Exchange (BSE) were trading 7% higher on the NSE.

In 6 months alone, CDSL shares have given multibagger returns as the stock has gained over 100% during this period. Meanwhile, BSE has also turned into a multibagger stock giving more than 120% returns in the last 6 months.

Brokerage firm ICICI Securities in a recent note has recommended ‘Add’ rating on BSE stock while it is ‘Hold’ on CDSL.

The brokerage tallied the turnover of the National Stock Exchange (NSE) to determine the impact on turnover after the implementation of the fourth phase of the margin norm. The brokerage firm said the recently implemented full margin norms have not had any major impact on equities, unlike commodities.

These margin norms had a marginal impact on the overall NSE cash trading. While, MCX Futures ADTV (Average Daily Trading Volume) has declined from Rs 284 billion in Q1FY22 to Rs 231 billion in September 21, however, the brokerage has recommended ‘Buy’ on MCX shares.

CDSL is one of the two depositories in India and also the only listed one in the country, the other being National Securities Depository Limited (NSDL). It facilitates holding and trading of securities in electronic form and facilitates settlement of trades on stock exchanges. Whereas, BSE is the oldest equity index launched in the country and India’s first equity index.

Amid the influx of new investors to participate in the Indian stock exchanges and increase in demat account opening, the stocks of broking related companies have gained a lot this year on a better trading outlook.

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