CDSL, BSE shares surged up to 5%; here's what technical charts indicate

Shares of BSE Ltd and Central Depository Services (India) Ltd (CDSL) witnessed a strong buying interest on Thursday. Swati Hotkar of Nirmal Bang believes both counters can deliver a strong performance in the near term.

BSE shares surged 4.32 per cent to reach a fresh record high of Rs 2,918, before settling 4.22 per cent higher at Rs 2,915. Hotkar suggested that the stock could climb up to Rs 3,000-3,200 levels in the near term while advising existing holders to maintain their positions.

"BSE is looking very strong on the technical front. I believe the stock has potential to reach up to Rs 3,000-3,200 levels. Fresh buying is not recommended at the current market price but those holding can continue with their positions," she said in an interview with Business Today.

BSE's stock turned ex-bonus in a 2:1 ratio after the company issued two bonus shares for every one share held, based on the record date of May 23. On the earnings front, the company posted a 362 per cent year-on-year (YoY) increase in the January-March 2025 quarter (Q4 FY25) net profit, at Rs 494 crore. Revenue from operations rose 75 per cent to Rs 847 crore YoY.

CDSL shares also logged a sharp uptick today, climbing 5.51 per cent to an intraday high of Rs 1,795, before closing 4.54 per cent higher at Rs 1,778.50.

Hotkar from Nirmal Bank noted the stock's promising technical outlook, saying, "We've seen a strong rally as the stock has gained almost 16 per cent this week. Any dips towards Rs 1,600 should be considered as an opportunity to enter. On the higher end, Rs 2,000 level can be seen soon."

CDSL reported a 22 per cent YoY decline in Q4 FY25 net profit, down to Rs 100.39 crore, and a 6.7 per cent drop in revenue from operations, which came at Rs 224.45.

The rise in these stocks could be linked to renewed investor interest, driven by a series of mainboard initial public offerings (IPOs) hitting the domestic market in recent weeks. This pickup in IPO activity has helped improve overall sentiment in the broader stock market.