03 Nov 2025 | 3 Mins Read
NSDL shares may surge 12% as lock-in ends
Flipitmoney
JM Financial initiated coverage on NSDL with an 'Add' rating and ₹1,290 price target, implying a 12% potential upside. NSDL facilitates 66% of India's demat transactions, with 56% of revenue from diversified segments, such as KYC management and payments. The brokerage expects 11%, 18%, and 15% CAGR in revenue, EBITDA, and profit from FY25-28.