3 Stock Exchange Operator, Depository Services Company and Mutual Fund House Stocks With a Strong Future Roadmap: BSE Ltd, Central Depository Services (India) and Aditya Birla Sun Life AMC
- October 26, 2026
- Posted by: Kunal Singla
- Category: Best Stocks
BSE Ltd, Central Depository Services (India) and Aditya Birla Sun Life AMC: ROE of 23.3% to 37.4% and FY22 to FY26 revenue CAGR of 10.0% to 56.3%. Prices as of 23 Oct 2026.
Quick Answer
The three exchange, depository and fund house stocks to watch are BSE Ltd, Central Depository Services (India) and Aditya Birla Sun Life AMC. Their return on equity ranges from 23.3% to 37.4%, and their revenue compound annual growth from FY22 to FY26 ranges from 10.0% to 56.3%. BSE Ltd leads on both return on equity at 37.4% and revenue growth at 56.3% a year. Prices are based on the 23 October 2026 close, and this article is educational, not investment advice.
Exchange, depository and fund house stocks bring together companies with a visible plan for the years ahead. BSE Ltd, Central Depository Services (India) and Aditya Birla Sun Life AMC cover a stock exchange operator, a depository services company and a mutual fund house.
This list covers three exchange, depository and fund house stocks with complete current figures: BSE Ltd, Central Depository Services (India) and Aditya Birla Sun Life AMC. Every figure comes from the latest reported financials and the 23 October 2026 market close. Companies without complete current figures were left out.
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What Are Exchange, Depository and Fund House Stocks?
Exchange, depository and fund house stocks are listed capital market companies that run an exchange, hold investors’ securities in electronic form and manage mutual funds. Their earnings depend on trading volumes, new demat accounts, fund inflows and market conditions.
Exchange, Depository and Fund House Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| BSE Ltd | 3,230.8 | 131,779 | 46.7 | 40.1 | 37.4 | 0.00 |
| Central Depository Services (India) | 1,188.5 | 26,543 | 56.4 | 41.8 | 23.3 | 0.00 |
| Aditya Birla Sun Life AMC | 889.05 | 26,115 | 26.5 | 16.9 | 25.4 | 0.02 |
On valuation, all three trade at a P/E above their industry P/E, which reflects the growth the market already expects from them. Readers comparing exchange, depository and fund house stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.
Why Do Exchange, Depository and Fund House Stocks Have a Strong Roadmap in India?
Exchange, depository and fund house stocks have a strong roadmap in India because rising investor participation, new demat accounts and steady mutual fund savings keep widening the market for capital market services.
- Investor growth. More households trade and invest through markets.
- Demat accounts. New accounts add depository fees.
- Fund inflows. Monthly investing adds assets under management.
Why BSE Ltd Features Among These Exchange, Depository and Fund House Stocks
Among the exchange, depository and fund house stocks on this list, BSE Ltd runs one of Asia’s oldest stock exchanges and earns from trading in equities and derivatives, listing services, data products and its clearing and technology arms.
Revenue rose from Rs 864 crore in FY22 to Rs 5,148 crore in FY26, a compound annual growth rate of 56.3%. Net profit grew from Rs 1,317 crore in FY25 to Rs 2,475 crore in FY26, a rise of 87.9%.
The company has a return on equity of 37.4%, a debt to equity ratio of 0.00 and a market capitalisation of Rs 131,779 crore. The stock trades at a P/E of 46.7, above the industry P/E of 40.1.
Roadmap: Rising participation of retail investors, a growing derivatives business and expanding data and technology services broaden the exchange’s income. A debt-free balance sheet and an asset-light model keep earnings quality high.
What to watch: Follow derivative volumes, new listings, data revenue growth and regulatory changes in market structure.
Why Central Depository Services (India) Features Among These Exchange, Depository and Fund House Stocks
Among the bourse operator company shares on this list, Central Depository Services (India), known as CDSL, is one of the two depositories in India and holds demat accounts for investors, with revenue from transaction charges, issuer fees and account fees.
In the June 2026 quarter, revenue grew 15.4% year on year to Rs 340 crore, while net profit rose 14.9% to Rs 118 crore. Revenue rose from Rs 606 crore in FY22 to Rs 1,238 crore in FY26, a compound annual growth rate of 19.6%.
Net profit grew from Rs 312 crore in FY22 to Rs 455 crore in FY26, which works out to a compound annual growth rate of 9.9%. The company has a return on equity of 23.3%, a debt to equity ratio of 0.00 and a market capitalisation of Rs 26,543 crore. The stock trades at a P/E of 56.4, above the industry P/E of 41.8.
Roadmap: The rise in demat accounts and market participation lifts transaction and issuer income, and the company has added services such as KYC and e-voting. Its revenue is spread across several streams, and it carries no debt.
What to watch: Track growth in demat accounts and market activity, which influence transaction revenue.
Why Aditya Birla Sun Life AMC Features Among These Exchange, Depository and Fund House Stocks
Among the three companies on this list, Aditya Birla Sun Life AMC manages mutual funds, portfolio management services and offshore and alternative funds for retail and institutional investors across India.
The company has a return on equity of 25.4%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 26,115 crore. The stock trades at a P/E of 26.5, above the industry P/E of 16.9.
Revenue rose from Rs 1,409 crore in FY22 to Rs 2,060 crore in FY26, a compound annual growth rate of 10.0%. Net profit grew from Rs 673 crore in FY22 to Rs 975 crore in FY26, which works out to a compound annual growth rate of 9.7%.
Roadmap: The company is growing its base of individual investors, especially through systematic plans, and building its presence in smaller cities. A well-known group brand supports investor trust.
What to watch: Track assets under management, new investor additions and systematic plan flows.
BSE Ltd vs Central Depository Services (India) vs Aditya Birla Sun Life AMC on Key Financials
The table below sets the three exchange, depository and fund house stocks side by side on revenue, profit and margin, using reported figures.
| Company | FY22 Revenue (Rs Cr) | FY26 Revenue (Rs Cr) | Revenue CAGR (FY22-FY26) | FY26 Net Profit (Rs Cr) | FY26 Net Margin |
|---|---|---|---|---|---|
| BSE Ltd | 864 | 5,148 | 56.3% | 2,475 | 48.1% |
| Central Depository Services (India) | 606 | 1,238 | 19.6% | 455 | 36.7% |
| Aditya Birla Sun Life AMC | 1,409 | 2,060 | 10.0% | 975 | 47.3% |
BSE Ltd posts the highest return on equity in this group at 37.4%. BSE Ltd combines the largest FY26 revenue at Rs 5,148 crore with the fastest revenue growth, a 56.3% compound annual rate. A useful habit with exchange, depository and fund house stocks is to check each new quarterly result against the capacity plans the company described earlier.
Key Risks to Check Before Investing in Exchange, Depository and Fund House Stocks
Every theme carries risks that deserve a check before any decision. For these exchange, depository and fund house stocks, the main points are: Long-term bourse operator company shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Market cycles. Trading volumes move with sentiment.
- Regulation. Rule changes can affect products and fees.
- Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them.
Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.
Use the Univest Stock Screener to filter exchange, depository and fund house stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Exchange, Depository and Fund House Stocks
Exchange, depository and fund house stocks suit investors who prefer to study business strength before price moves. BSE Ltd, Central Depository Services (India) and Aditya Birla Sun Life AMC each have a clear plan to expand. Based on the 23 October 2026 close, BSE Ltd trades at Rs 3,230.8, Central Depository Services (India) at Rs 1,188.5 and Aditya Birla Sun Life AMC at Rs 889.05.
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Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
What are exchange, depository and fund house stocks?
Ans. Exchange, depository and fund house stocks are listed capital market companies that run an exchange, hold investors’ securities in electronic form and manage mutual funds. Their earnings depend on trading volumes, new demat accounts, fund inflows and market conditions. This list looks at three of them, BSE Ltd, Central Depository Services (India) and Aditya Birla Sun Life AMC, using reported FY22 to FY26 financials and the 23 October 2026 closing prices.
Which exchange, depository and fund house stocks are covered in this list?
Ans. This list covers BSE Ltd, Central Depository Services (India) and Aditya Birla Sun Life AMC. Based on the 23 October 2026 close, BSE Ltd traded at Rs 3,230.8, Central Depository Services (India) at Rs 1,188.5 and Aditya Birla Sun Life AMC at Rs 889.05. Their return on equity ranges from 23.3% to 37.4%, and their revenue compound annual growth from FY22 to FY26 ranges from 10.0% to 56.3%.
Why do exchange, depository and fund house stocks have a strong future roadmap in India?
Ans. Exchange, depository and fund house stocks have a strong roadmap in India because rising investor participation, new demat accounts and steady mutual fund savings keep widening the market for capital market services. The main drivers are as follows. Investor growth. More households trade and invest through markets. Demat accounts. New accounts add depository fees. Fund inflows. Monthly investing adds assets under management. Together these factors give the companies on this list a visible path for growth over the coming years.
How has BSE Ltd performed financially?
Ans. Revenue rose from Rs 864 crore in FY22 to Rs 5,148 crore in FY26, a compound annual growth rate of 56.3%. Net profit grew from Rs 1,317 crore in FY25 to Rs 2,475 crore in FY26, a rise of 87.9%. The company has a return on equity of 37.4%, a debt to equity ratio of 0.00 and a market capitalisation of Rs 131,779 crore. The stock trades at a P/E of 46.7, above the industry P/E of 40.1. Looking ahead, rising participation of retail investors, a growing derivatives business and expanding data and technology services broaden the exchange’s income. A debt-free balance sheet and an asset-light model keep earnings quality high.
How has Central Depository Services (India) performed financially?
Ans. Revenue rose from Rs 606 crore in FY22 to Rs 1,238 crore in FY26, a compound annual growth rate of 19.6%. Net profit grew from Rs 312 crore in FY22 to Rs 455 crore in FY26, which works out to a compound annual growth rate of 9.9%. In the June 2026 quarter, revenue grew 15.4% year on year to Rs 340 crore, while net profit rose 14.9% to Rs 118 crore. The company has a return on equity of 23.3%, a debt to equity ratio of 0.00 and a market capitalisation of Rs 26,543 crore. The stock trades at a P/E of 56.4, above the industry P/E of 41.8. Looking ahead, the rise in demat accounts and market participation lifts transaction and issuer income, and the company has added services such as KYC and e-voting. Its revenue is spread across several streams, and it carries no debt.
How has Aditya Birla Sun Life AMC performed financially?
Ans. Revenue rose from Rs 1,409 crore in FY22 to Rs 2,060 crore in FY26, a compound annual growth rate of 10.0%. Net profit grew from Rs 673 crore in FY22 to Rs 975 crore in FY26, which works out to a compound annual growth rate of 9.7%. The company has a return on equity of 25.4%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 26,115 crore. The stock trades at a P/E of 26.5, above the industry P/E of 16.9. Looking ahead, the company is growing its base of individual investors, especially through systematic plans, and building its presence in smaller cities. A well-known group brand supports investor trust.
What risks should investors check before buying exchange, depository and fund house stocks?
Ans. Investors should check a few risks before buying exchange, depository and fund house stocks. Market cycles. Trading volumes move with sentiment. Regulation. Rule changes can affect products and fees. Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.
Is this list of exchange, depository and fund house stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 23 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.
