Buy Central Depository Services (India); target of Rs 290: Kotak Securities

Kotak Securities is bullish on Central Depository Services (India) has recommended buy rating on the stock with a target price of Rs 290 in its research report dated January 07, 2019.

Kotak Securities' research report on Central Depository Services (India)


Central Depository Services (CDSL) continues to gain market share in the month of Oct and Nov, 2018 with net beneficial owner accounts increased to 16.5mn at the end of November 2018 compared to 16 mn at the end of 2QFY19. CDSL's strategy of consolidating its position among non-institutional investors has enabled the company to not depend on few large institutional investors.

Outlook

We reiterate our BUY rating with an unchanged target price of Rs 290.

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