Capital Markets
Central Depository Services (India) Limited (NSE: CDSL) clears resistance, moves up 5% intraday
Central Depository Services (India) Limited (NSE: CDSL) stock price moves up 5% intraday, clearing its 6-month resistance trendline at ₹1287.
Central Depository Services (India) Limited (CDSL) breaks out with a +5% gain today, clearing its 6-month resistance trendline. This move follows the company’s announcement of an Analyst Meet scheduled for June 23, 2026, which likely spurred investor interest. CDSL, a key player in India’s capital markets infrastructure, has seen its stock price rise despite a mixed sector performance, indicating a company-specific catalyst rather than broad-based sector momentum.
Technical setup — trendlines & DMA
From a technical standpoint, CDSL’s breakout is noteworthy. The stock has surpassed its 6-month resistance trendline at ₹1286.57, currently trading 5.57% above this level. The 6-month support trendline stands at ₹1143.88, which is 16.05% below today’s price, providing a solid floor. The 50-day moving average (DMA) at ₹1257.5 is above the 200-DMA at ₹1392.3, signaling a bearish trend despite the recent breakout. The stock is currently in the middle third of its 52-week range, suggesting there’s room for further upside but also indicating that a portion of the anticipated growth may already be priced in.
Snapshot: ₹1,362.50 on 2026-06-18 (chart frozen at publication)
Fundamentals & business context
On the fundamental front, CDSL’s PE of 59.0, coupled with a profit margin of 36.8% and a robust revenue CAGR of 27.3%, suggests that the market is pricing in strong growth expectations. However, the PEG ratio of 3.24 indicates that the stock may be overvalued relative to its growth rate. Institutional holding at 15.7% reflects a cautious yet positive view from smart money, though the lack of a specific catalyst today points to the breakout being more technically driven than fundamentally motivated.
Algorithmic scorecard
The algorithmic scorecard reflects a balanced view of CDSL, with an overall score indicating a mix of strengths and weaknesses. The strongest signals highlight CDSL’s excellent revenue growth and very low debt levels, which underscore the company’s solid financial health and growth trajectory. However, the weakest signals point to the stock being overvalued and the negligible dividend yield, which may concern income-focused investors. Additionally, the high public holding at 47.87% could imply higher volatility risk. The breakout above resistance and bullish sentiment in the last 30 days, with a higher average volume on up days, suggest positive momentum, though the stock’s position in the lower half of its 52-week range indicates some underlying weakness.
Company outlook
In their recent update, CDSL’s management outlined several strategic initiatives and expectations for the upcoming financial year. The company is gearing up for an increase in large IPOs, which is expected to drive higher volumes and transactions on its platform. CDSL is also preparing for the implementation of the Securities Market Code 2025, indicating a proactive approach to regulatory changes. While specific revenue or earnings guidance was not provided, the focus on platform readiness and regulatory compliance suggests a forward-looking strategy aimed at capitalizing on anticipated market growth and maintaining compliance with evolving frameworks.
Get all details on CDSL — P&L, peers, shareholding and more on TradeAlone.
Capital Markets
Master Trust Limited (mastertr) Q2 FY27: Revenue and PAT Surge with 21.13% and 21.94% Growth
Master Trust Limited (MASTERTR) reports strong Q2 FY27 performance with 21.13% growth in total income and 21.94% surge in PAT.
Master Trust Limited (MASTERTR) has reported its unaudited financial results for Q2 FY27, showcasing a robust performance with a 21.13% year-on-year growth in total income and a 21.94% surge in PAT. The diversified financial services company, offering broking, lending, wealth management, and investment solutions, has demonstrated significant financial strength and operational efficiency.
Revenue and Profitability
The company’s total income for Q2 FY27 stood at ₹1,536.78 Mn, up from ₹1,268.66 Mn in the same period last year. The EBITDA also rose to ₹663.66 Mn, reflecting a 14.44% year-on-year increase. The EBITDA margin slightly decreased to 43.19% from 45.71%, while the PAT margin increased marginally by 16 Bps to 24.92%.
Segment Performance
The Principal Strategies segment contributed ₹652.06 Mn, accounting for 42.43% of total revenue, with a 35.19% year-on-year growth, driven by strong performance in investment and trading activities. The Brokerage & Allied segment generated ₹351.45 Mn, contributing 22.87% to total revenue, with an 11.63% year-on-year growth. Interest income and MTF & Allied together contributed 29.63% of total revenue, generating ₹455.31 Mn, with a combined growth of 22.30% year-on-year and 13.52% quarter-on-quarter.
Looking ahead, Master Trust Limited remains focused on enhancing client engagement through digital platforms, growing the margin trading book, and increasing contributions from distribution and wealth management products. The company is committed to disciplined capital allocation, operational efficiency, and creating long-term value for its stakeholders.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Master Trust Limited
Master Trust Limited belongs to the Financial Services › Capital Markets sector. Here’s a quick read on where the business and the stock stand today.
Master moves sideways over three months, with neither buyers nor sellers taking control. The PEG of 0.30 is extremely low. Either the market misses the growth story, or there is a catch worth investigating. Industry-leading margins of 25.0% reflect exceptional pricing power and operational efficiency. The stock holds at 31% of its 52-week range with RSI at 42. In other words, neither side has a clear edge right now. Revenue grows at 17.5% and profits at 24.1% CAGR, with D/E of 0.00. Meanwhile, the stock dips 6.0% in three months without any fundamental deterioration. Consequently, the stock quietly becomes cheaper relative to earnings power. For long-term investors, that is a feature. Check Fundamentals of Master Trust Limited.
Capital Markets
Jm Financial Limited (jmfinancil) Q2fy27 Results: PAT Down 10.7%, Revenue Up 0.5%
JM Financial Limited (JMFINANCIL) Q2FY27 results show a 10.7% drop in PAT, but revenue increased by 0.5%. Detailed analysis inside.
JM Financial Limited (JMFINANCIL) announced its Q2FY27 results, revealing a 10.7% decrease in Profit After Tax (PAT) while reporting a modest 0.5% rise in net revenue. The company’s consolidated PAT stood at Rs. 228 crore compared to Rs. 255 crore in the same period last year. Despite the dip in PAT, the company’s net revenue for Q2FY27 was Rs. 712 crore, up from Rs. 708 crore in Q2FY26. The decline in PAT is attributed to higher operating expenses and impairment on financial instruments.
Segment Performance
The corporate advisory and capital markets segment continued to lead with robust performance. The segment’s operating profit stood at Rs. 158 crore, showing a 22% year-on-year growth. Private markets also performed well, with an operating profit of Rs. 310 crore, a significant increase from Rs. 1298 crore in the previous year. Wealth and asset management segment saw a slight decline in operating profit due to lower returns on assets under management (AUM).
Financial Highlights
JM Financial Limited’s loan book grew by 22% year-on-year to Rs. 4,748 crore. The company’s assets under management (AUM) increased by 17% to Rs. 39,596 crore. The company also declared an interim dividend of Rs. 1.65 per share, contributing to an aggregate payout of Rs. 7.6 per share over the last six quarters. Despite the overall decrease in PAT, the company’s effective holding and loan book to AUM ratios remain strong, indicating a healthy financial position.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of JM Financial Limited
JM Financial Limited belongs to the Financial Services › Capital Markets sector. Here’s a quick read on where the business and the stock stand today.
JM trades in the lower quarter of its 52-week range. The PEG of 0.43 is extremely low. Either the market misses the growth story, or there is a catch worth investigating. Industry-leading margins of 30.9% reflect exceptional pricing power and operational efficiency. The stock gains 0.8% in the last month, recovering from the three-month slide. However, it is too early to call this a confirmed reversal. Revenue grows at 19.1% and profits at 26.3% CAGR — a genuinely strong business. Nevertheless, the stock drops 2.3% in three months. The market sells the stock, not the story. Watch whether that changes at the next earnings. Check Fundamentals of JM Financial Limited.
Capital Markets
Jm Financial Limited (jmfinancil) Q2fy27: Revenue Up 1%, Interim Dividend Declared
JM Financial Limited (JMFINANCIL) reports consolidated revenue of Rs. 1,056 crore and PAT of Rs. 240 crore for Q2FY27.
JM Financial Limited announced its financial results for the quarter and half year ended September 30, 2026. The company reported consolidated revenue of Rs. 1,056 crore and a profit after tax (PAT) of Rs. 240 crore for Q2FY27. This marks a 1% increase in revenue compared to the same period last year. Notably, the company declared an interim dividend of Rs. 1.65 per share, contributing to a total dividend payout of Rs. 7.6 per share over the last six quarters.
Corporate Advisory and Capital Markets
The Investment banking business had one of its best quarters with profits growing four times sequentially to Rs. 127 crore. The company ranked #1 by deal value across IPOs and QIPs, closing 26 capital market transactions of ~Rs. 83,000 crores in Q2FY27.
Wealth Management
Recurring AUM increased by 16% year-on-year to Rs. 37,038 crore, while the wealth loan book grew by 30% YoY to Rs. 2,558 crore. Total recurring AUM (including loans) rose by 17% YoY to Rs. 39,596 crore.
Affordable Home Loans
The affordable home loans customer base increased by 30% YoY to 37,548, with AUM growing by 30% YoY to Rs. 3,929 crore and disbursements rising by 48% YoY to Rs. 331 crore.
Commenting on the results, Mr. Vishal Kampani, Vice Chairman and Managing Director, JM Financial Limited, said, “We are excited to report another quarter of robust performance. Our progress on the build out of the customer franchise across all businesses is encouraging. The visibility of earnings has improved with loan book growth across private markets, wealth management, and affordable home loans businesses.”
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of JM Financial Limited
JM Financial Limited belongs to the Financial Services › Capital Markets sector. Here’s a quick read on where the business and the stock stand today.
JM trades in the lower quarter of its 52-week range. The PEG of 0.43 is extremely low. Either the market misses the growth story, or there is a catch worth investigating. Industry-leading margins of 30.9% reflect exceptional pricing power and operational efficiency. The stock gains 0.8% in the last month, recovering from the three-month slide. However, it is too early to call this a confirmed reversal. Revenue grows at 19.1% and profits at 26.3% CAGR — a genuinely strong business. Nevertheless, the stock drops 2.3% in three months. The market sells the stock, not the story. Watch whether that changes at the next earnings. Check Fundamentals of JM Financial Limited.
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