CDSL shares surge 6% as stock trades ex-bonus today

economictimes.indiatimes.com:

CDSL) surged 6% to a day's high of Rs 1,558.85 on the NSE after the stock began trading on a pre-bonus basis. The record date for the bonus issue was set for Saturday, August 24.

Since Saturday is a market holiday, today serves as the ex-date for the bonus issue. Bonus shares will be issued to shareholders listed as of the record date. Under the T+1 framework, the record date and ex-date are usually the same unless a market holiday intervenes.

Since Friday is the ex-date, Thursday was the last day to buy the shares to qualify for eligibility. Shareholders who had shares of CDSL in their Demat accounts at the closing of trade on Thursday will be eligible for the bonus issue of shares.

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Earlier in July, the company had announced a bonus issue of shares for its eligible shareholders in the ratio of 1:1 and this was the first-ever instance in which CDSL has issued bonus shares to its shareholders, as per the available information on Trendlyne.

A 1:1 bonus share issue means that for each share of the company held by shareholders, they would get one extra share credited to their accounts.

For the quarter ending June 2024, CDSL reported an 82.4% YoY profit after tax (PAT) at Rs 134 crore, while its revenue from operations jumped 72% on a year-on-year (YoY) basis to Rs 257 crore.

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