NSDL Q1 Results: Stock cools from intraday highs ahead of first earnings after listing

Shares of Securities Depository Ltd. (NSDL) gained as much as 5% in early trading on Tuesday, August 12, ahead of the company's board meet to consider results for the June quarter.

This will be the first earnings statement that NSDL will be releasing after becoming a public company.

Shares of NSDL saw a sharp fall from the day's high on Monday, having once made an intraday high of ₹1,425, which implied a gain of nearly 80% from the IPO price of ₹800. The stock though, ended lower, having corrected more than 12% from its intraday high.

NSDL's peer CDSL had seen an increase of 15.3% from the March quarter for its topline, while margins too, had seen an expansion from last quarter.

However, the number of net accounts opened during the quarter declined by 11% and also on a year-on-year basis. Demat Custody though, had increased on a sequential basis for CDSL.

With the surge that NSDL has seen since its listing, the stock has already turned more expensive in comparison to CDSL on the valuation front, while it was at a discount ahead of the listing.

Shares of NSDL are trading 4.7% higher on Tuesday at ₹1,332.55. The stock fell as much as 12% from the highs of the day on Monday, to end with losses of 2%.