NSDL shares resume decline after 2-day rebound; analysts flag weak technicals

Shares of National Securities Depository Ltd (NSDL) declined in Wednesday's session, halting a two-day recovery. The stock slipped 1.98 per cent to hit a day low of Rs 1,187.10. Despite the correction, the scrip -- which debuted on August 6 -- remains 48.39 per cent higher than its initial public offering (IPO) price of Rs 800.

BSE has placed NSDL under the short-term Additional Surveillance Measure (ASM) framework, a mechanism used to caution investors about heightened volatility in share prices.

For the June 2025 quarter (Q1 FY26), the company reported a 15.16 per cent year-on-year (YoY) rise in consolidated net profit to Rs 89.62 crore, compared with Rs 77.82 crore in the same quarter last year. However, revenue from operations declined 7.49 per cent to Rs 312.02 crore from Rs 337.29 crore a year ago. Total expenses fell to Rs 228.03 crore.

Technically, NSDL shares appear weak, facing resistance in the Rs 1,140–1,250 zone and support between Rs 1,100–1,160, with a potential decline toward Rs 1,000 if support levels fail.

The stock appears weak on the charts and immediate support is seen at Rs 1,100, according to Ravi Singh, Senior Vice-President, Retail Research at Religare Broking, who added that resistance lies at Rs 1,140.

"NSDL stock price is slightly bearish on daily charts with strong resistance at Rs 1,229. A close below the support of Rs 1,140 could lead to a downward target of Rs 1,000 in the near term," said Sebi-registered analyst AR Ramachandran

Jigar S Patel, Senior Manager – Technical Research at Anand Rathi, noted that support is placed at Rs 1,160 and resistance at Rs 1,250. A breakout above Rs 1,250 could open the way for Rs 1,300, while the short-term trading range is expected between Rs 1,160 and Rs 1,300.