NSDL gets ‘Neutral’ rating as Motilal Oswal initiates coverage, sees 8% downside

September 17, 2025

Motilal Oswal initiated coverage on NSDL with a ‘Neutral’ rating, setting a target price of Rs 1,200. While acknowledging NSDL’s strong market position and growth potential in India’s expanding capital markets, the brokerage suggests the current stock price largely reflects these positives.

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