Buy CDSL, target price Rs 870: Chandan Taparia

Chandan Taparia of Motilal Oswal has buy call on Central Depository Services (India) with a target price of Rs 870.

The current market price of Central Depository Services (India) Ltd. is Rs 829.85. Time period given by analyst is Intra Day when Central Depository Services (India) Ltd. price can reach defined target.

Central Depository Services (India) Ltd., incorporated in the year 1997, is a Small Cap company (having a market cap of Rs 8671.93 Crore) operating in Financial Services sector.


Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 110.25 Crore, up 6.83 % from last quarter Total Income of Rs 103.20 Crore and up 51.08 % from last year same quarter Total Income of Rs 72.98 Crore. Company reported net profit after tax of Rs 51.64 Crore in latest quarter.

Investment Rationale
Increased volume on daily scale with recent highest daily close, at the verge of a narrow range breakout on weekly frame

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