NSDL shares extend gains to 67% from IPO price, now trades at a premium to CDSL

Shares of National Securities Depository Ltd. (NSDL) the recently listed depository service provider, have surged another 18% on Friday, August 8, extending their gains for the third consecutive session after listing.The stock had ended its trading debut with gains of 17% in comparison to its issue price of ₹800 on Wednesday, and followed it up with another 20% surge on Thursday.

With this move, the stock has now risen 67% from its IPO price in just three trading sessions.

On its trading debut, NSDL had seen as many as 3.7 crore shares change hands, while Thursday’s session had seen 5.1 crore shares change hands. Within the first three hours of the trading session, 4.2 crore shares of NSDL have already changed hands.While NSDL’s shares have surged over the last three trading sessions, CDSL’s shares have remained rangebound so far during this period. With this three-day upmove, NSDL shares now trade at a price-to-earnings multiple of 73x, in comparison to CDSL’s 62x on a one-year forward earnings basis.

No analyst yet has initiated coverage on NSDL yet.

Shares of NSDL are trading 18.2% higher on Friday at ₹1,328.