The investor base of Central Depository Services (India) Ltd is thinning out, and not just on the retail side. Domestic mutual funds trimmed their holdings to 7.18% in March 2025 from 11.21% just a quarter earlier. Foreign portfolio investors cut even deeper, slashing their stake from 17.01% to 11.32%. The stock has declined 19% year-to-date, underperforming constituent Nifty 500 and Nifty SmallCap indices.What's spooking institutional money? A quiet but consequential shift in how capital market transactions are priced in India.
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