Shares of CDSL went up 3% on Monday after the company's shareholders approved the bonus issue of shares.
What Happened: The company said on Saturday that its shareholders approved the proposal to give bonus shares in the ratio of 1:1 in the company's annual general meeting. In the 1:1 bonus issue, every investor will get one share for every share they hold in the company. 97.43% of investors voted in favour of the bonus issue in the general meeting.
Shares of the CDSL have surged up over 25% in the last 30 days.
The record date for the bonus issue is August 24, meaning an investor should hold the stock of the company on August 24 to be eligible for the bonus issue.
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The shareholders also approved the issue of a dividend of ₹22 which includes a final dividend of ₹19 and a special dividend of ₹3.
Earlier in the month CDSL announced its Q1 results where its net profit increased by 82% year-on-year to ₹134.20 crore while its revenue was up 72% to ₹257.38 crore. EBITDA reached ₹154.4 crore with a margin of around 60%.
Price Action: Shares of CDSL were up 3.55% to ₹2,887 on Monday morning.
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