Nehal Vora Appointed MD & CEO of Central Depository Services (India)

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Nehal Vora has been appointed as the Managing Director (MD) and Chief Executive Officer (CEO) of Central Depository Services (India) (CDSL) for a five-year term starting from September 18, 2024.

An Overview of the News

• Nehal Vora brings over 25 years of experience in the Indian Capital Markets, with previous roles at BSE, DSP Merrill Lynch, and SEBI before joining CDSL in September 2019.

About CDSL:

• CDSL is India's leading and only listed depository, aiming to provide convenient, reliable, and secure depository services at an affordable cost to all market participants. 

• It manages over 11.56 crore demat accounts across India.

Financial Performance:

• In Q4 FY24, CDSL reported a consolidated net profit of Rs 129.25 crore, significantly up from Rs 63.12 crore in the previous year. 

• Revenue from operations increased by 92.99% to Rs 240.78 crore in Q4 FY24.

Stock Performance:

• CDSL's stock price increased by 0.25%, closing at Rs 1,381.75 on September 13, 2024.