Read more about CDSL gains on bargain hunting on Business Standard. Central Depository Services (India) (CDSL) rose 1.94% to Rs 719.85 amid value buying.
IIFL Securities jumped 10.2% to Rs 61.9 after the company emerged as the successful bidder for demat accounts held by Karvy Stock Broking with NSDL and CDSL.IIFL Securities will get access to 11,06,108 accounts from Karvy Stock Broking. The custody value of these accounts as of 31 January 2021 is Rs 3,01,407 crore.
Since December 2019, Karvy Stock Broking s trading terminals on NSE and BSE were closed under Sebi orders. In November 2019, SEBI barred Karvy from enrolling new clients for stock broking services and also prevented it from using the Power of Attorney (PoA) given by clients after it was found to have allegedly misused clients securities.
Read more about CDSL jumps on crossing 3-cr demat account mark on Business Standard. Central Depository Services (India) jumped 7.19% to Rs 576.75 after the company said it became the first depository to open three crore plus active demat accounts.