NSDL Shares Soar 62% Over IPO Price in 3 Days; Analysts Recommend Long-Term Hold

Shares of National Securities Depository Limited (NSDL) continued their stellar rally on Thursday, gaining nearly 16% in morning trade. This marks the third consecutive session of strong gains since the company’s stock market debut on August 6. With this surge, NSDL shares have now climbed over 48% in just three sessions and currently trade 62% above the IPO price, reflecting strong investor interest and market confidence. The company’s market capitalization has crossed ₹25,000 crore, within three days of listing. 📈 Listing and IPO Highlights IPO Price: ₹880 per share Listing Price (BSE, Aug 6): ₹880 (10% listing gain) #NSDL #IPO Current Price: Over ₹1,425 (approx) Gains Since Listing: ▲48% in 3 sessions Gains Over IPO Price: ▲62% The stock’s listing was below grey market expectations, which had indicated a 16% premium. However, robust buying momentum post-listing has driven the stock sharply higher. 📊 Valuation & Peer Comparison NSDL P/E Ratio: ~77x CDSL P/E Ratio: ~66x Despite the higher valuation, analysts suggest holding NSDL for the long term due to its market leadership, technology edge, and near-duopoly structure in India’s depository system. 🧾 Analyst Commentary Prashanth Tapse, SVP (Research) at Mehta Equities Ltd, said: “NSDL leads in value-based transactions and institutional holdings, supported by robust infrastructure and industry trust. The firm, alongside CDSL, benefits from high entry barriers in the segment.” Saurabh Jain, Head of Equity Research at SMC Global Securities, commented: “NSDL’s dominant market share and diversified service base make it well-positioned for long-term growth. However, investors should monitor regulatory, volume-driven, and cybersecurity risks.” Both analysts advise: Allotted investors: Hold for long-term New investors: Wait for dips before entering