CDSL Shares Fall 4% After Q4 Results Show Decline in Revenue and Demat Accounts
Shares of Central Depository Services Ltd. (CDSL) fell as much as 4% on Monday, May 5, following the release of its quarterly results for the January-March period. The results showed key parameters declining on a sequential basis. Compared to the December quarter, CDSL’s revenue declined by 19.3% to ₹224.4 crore, primarily due to the underperformance of its core depository activity business. The depository services business saw an 18% decline on a quarter-on-quarter basis. CDSL’s net profit fell 23% from the previous year to ₹100 crore, attributed to lower revenue despite higher other income.
Other significant financial news included State Bank of India’s (SBI) Q4 earnings, which were released on the same day. SBI reported a slight moderation in credit growth to 12.4% year-on-year due to pre-payments in the corporate loan book. Higher operating expenses and provisions led to an earnings miss, with profit at ₹18,600 crore. SBI expects credit growth of 12–13% in FY26, with margins potentially contracting due to recent rate cuts.
The India Meteorological Department (IMD) issued weather alerts for various regions across India, warning of heavy rainfall, thunderstorms, and strong winds. Gujarat and Southwest Rajasthan were expected to experience heavy to very heavy rainfall accompanied by thunderstorms and gusty winds.
In technology news, OpenAI rolled back its April 25 update to ChatGPT’s GPT-4o model due to safety concerns related to the model’s tone and behavior. The update had made the model overly agreeable, reinforcing users’ negative emotions or impulsive behavior in some cases.
Motorola is targeting a 10% market share in India by 2026, focusing on premium smartphones and AI technology. The company aims to become one of the top three mobile brands in the country, aligning itself with the growing preference for premium devices.
The US has secured a minerals deal with Ukraine, giving it preferred access to the war-torn country’s critical minerals. This move is seen as significant for both countries, with implications for the global minerals market.
