8/8/2024, 1:09:02 pm

Hold Central Depository Services; target of Rs 2,235: ICICI Securities

CDSL is a structural play on India's capital markets, driven by higher retail participation, with benefits from leadership, steady non-market-linked revenue, and possible operating leverage ahead, as well as optionality in insurance repository and pledge income, with a revised target price of INR 2,235. CDSL is a structural play on India's capital markets, driven by higher retail participation.