NSDL Share Price Target 2026, 2027, 2028, 2029, 2030
- Market Cap
- ₹16,409 Cr
- Book Value
- ₹119
- Stock P/E
- 42.3
- Dividend Yield
- 0.24%
- ROE
- 17.4%
- ROCE
- 23.2%
- PEG Ratio
- 2.80
- EV/EBITDA
- 27.7
Fundamentals from Screener.in, as of 5 Aug 2026. Live price via Yahoo Finance.
Technical snapshot
EOD ·National Securities Depository Ltd closed at ₹802.15 on 19 August 2026, down 0.5% on the day, 4.7% below its 50-day average, 42.0% below its 52-week high, with volume at 0.86× its 20-session average.
- RSI 14
- 30.7
- vs 50-day SMA
- -4.7%
- vs 200-day SMA
- -13.9%
- From 52-week high
- -42.0%
- Relative volume
- 0.86×
- 20-day return
- -1.9%
End-of-day prices from exchange-published files (NSE/BSE bhavcopy), updated after market close. Descriptive statistics, not investment advice.
NSDL share price today
National Securities Depository (NSE: NSDL) is where India’s institutional wealth actually sits: the depository custodying the majority of demat value — FPI holdings, promoter stakes, mutual-fund units, the big money — while its duopoly twin CDSL collects the retail account count. Listed in August 2025, it completes the investable pair: own both and you own every share certificate in the country, in electronic form, forever.
The model is regulated-infrastructure annuity: custody fees on issuers and instruments, settlement charges on institutional flow, e-governance adjacencies (NSDL’s database businesses reach into PAN and tax infrastructure). At 42.3×, it trades at a meaningful discount to its retail twin, though its short listed history still limits what the market has seen across cycles.
The value half of the duopoly
NSDL’s custody skew means its economics track value and issuance rather than retail trading mood: debenture and bond demat (deepening corporate-debt markets), unlisted-company demat mandates (a regulatory growth lever), FPI custody, and the steady drumbeat of corporate actions. That makes it the lower-beta half of the pair — less exciting in retail manias, steadier through them. Sales CAGR of 26.9% shows the annuity compounding; the listing’s youth (Aug 2025) is the only reason history looks short.
What matters next: SEBI pricing reviews (the sector’s shared lever), unlisted-demat mandate rollouts, the e-governance subsidiaries’ growth, and post-listing shareholder-register churn.
The numbers
Financial snapshot — 5 August 2026
| Metric | Value |
|---|---|
| Market cap | ₹16,409 Cr |
| P/E (TTM) | 42.3 |
| EV/EBITDA | 27.7 |
| Operating margin | 25.2% |
| ROE / ROCE | 17.4% / 23.2% |
| Debt to equity | 0.01 |
| Sales CAGR (5y) | 26.9% |
| Profit CAGR (5y) | 15.1% |
| Promoter holding | 0% (institution-owned) |
| EPS (TTM) | ₹19.42 |
NSDL share price target 2026 to 2030
EPS base ₹19.42 (TTM). Bear: fee reviews bite, issuance slows — 9% growth, multiple at 26×. Base: custody value compounds with markets — 14% growth at 35×. Bull: unlisted mandates and debt-market deepening accelerate — 19% growth at 44×.
From ₹820, the base case is ≈ +60% over four and a half years; the bear is −5%. The spread captures a steadier custody model that still depends on regulated pricing, issuance and market values.
What supports the case
- The value-custody half of a two-member industry — institutional wealth’s ledger.
- Lower-beta economics: issuance and custody value, not retail trading mood.
- Unlisted-company demat mandates are a regulatory growth lever still turning.
- E-governance database adjacencies no depository peer owns.
- A 42× multiple against the twin’s 59× — duopoly exposure at the discount seat.
The risks: the regulator prices the product, the listing is 2025-young with register churn ahead, and profit growth (15.1%) trails the twin’s headline glamour.
What to weigh at the current price
The tension is whether custody growth and unlisted-company demat mandates justify a premium multiple before SEBI pricing changes or post-listing history reveals a weaker cycle.
FAQ
What is the NSDL share price target for 2030? The table above sets out bear, base and bull scenarios for each year to 2030. They are valuation sensitivities, not promised prices.
How is NSDL different from CDSL? NSDL custodies the majority of demat value (institutions, promoters, bonds); CDSL leads in account count (retail). NSDL earns on issuance and custody value; CDSL breathes with retail activity.
What are the e-governance businesses? NSDL’s subsidiaries run national data infrastructure — tax information networks and identity-linked services — annuity-like operations adjacent to the depository core.
When are NSDL’s next results? Check the results calendar and confirm the announced date in the relevant exchange filing.
This article is research and education, not personalised investment advice. We are not SEBI-registered advisers. Price targets are scenario arithmetic, not promises. Do your own research and consult a registered adviser before acting.