3 Depository, Credit Rating and Diversified Lender Stocks With a Strong Future Roadmap: Central Depository Services (India), CARE Ratings and Tata Capital

CDSL Rs 1,292.00, P/E 55.91. CARE Ratings Rs 1,524.30, P/E 25.70. Tata Capital Rs 327.65, P/E 24.41. Closing prices of 13 Oct 2026.

Updated: 14 Oct 2026 • 10:30 am

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Depository, credit rating and diversified lender stocks with the clearest long-term roadmaps today include CDSL in demat accounts, e-voting and transaction processing, CARE Ratings in credit ratings for debt instruments and analytical services and Tata Capital in retail, SME and corporate lending across personal, vehicle, home and business loans. FY26 revenue growth was 3.3% at CDSL, 16.5% at CARE Ratings and 11.3% at Tata Capital. P/E stands at 55.91 for CDSL (industry 42.30), 25.70 for CARE Ratings (industry 33.32) and 24.41 for Tata Capital (industry 17.72). Demand cycles, input costs and valuation decide how much of that growth the market keeps paying for, so each company's risks need equal attention.

Depository, credit rating and diversified lender stocks give investors exposure to services that help investors hold shares, price debt and borrow. Market activity, rating mandates and loan growth decide how much of that demand turns into profit.

This list covers three depository, credit rating and diversified lender stocks: Central Depository Services (India) for demat accounts, e-voting and transaction processing, CARE Ratings for credit ratings for debt instruments and analytical services and Tata Capital for retail, SME and corporate lending across personal, vehicle, home and business loans. Every figure comes from the latest reported financials and the 13 October 2026 market close. Companies without complete current figures were left out.

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Table of Contents

What Are Depository, Credit Rating and Diversified Lender Stocks?

Depository, credit rating and diversified lender stocks are shares of companies that hold investor accounts, rate debt or lend to households and firms. Results depend on market activity, rating mandates and loan growth, so fees and funding costs separate the stronger names.

Depository, Credit Rating and Diversified Lender Stocks at a Glance

The table compares size, valuation, return on equity and debt for the three depository, credit rating and diversified lender stocks as of the 13 Oct 2026 close.

Company	CMP (Rs)	Market Cap (Rs Cr)	P/E	Industry P/E	ROE	Debt to Equity
Central Depository Services (India)	1,292.00	26,292	55.91	42.30	23.27%	0.00
CARE Ratings	1,524.30	4,631	25.70	33.32	18.36%	0.03
Tata Capital	327.65	133,756	24.41	17.72	10.57%	5.15

Among capital markets and lending stocks, CDSL and Tata Capital trade at a premium to the industry P/E, while CARE Ratings trades at a discount.

Why Do Depository, Credit Rating and Diversified Lender Stocks Have a Strong Roadmap in India?

Depository, credit rating and diversified lender stocks have a strong roadmap in India because rising investor participation, growth in debt issuance and credit demand keep lifting these financial firms. Three drivers stand out.

Investor accounts: More households open demat accounts every year.
Debt issuance: Borrowers need credit ratings to raise funds.
Credit demand: Retail and SME borrowers need loans.

Central Depository Services (India): Depository Services Drive the Pipeline

CDSL's roadmap rests on depository services including demat accounts, e-voting and transaction processing, with growing investor accounts supporting recurring fees.

Revenue grew from Rs 605.90 crore in FY22 to Rs 1,238.50 crore in FY26, a 104.4% rise, and FY26 revenue was 3.3% higher than FY25. FY26 net profit was Rs 455.08 crore. In Q1 FY27, revenue grew 15.4% to Rs 340.50 crore, and net profit rose 14.9% to Rs 117.67 crore. Operating margin was 58.99% in FY26.

Debt to equity is 0.00 and return on equity is 23.27%. FY26 operating cash flow was Rs 466.62 crore against capital expenditure of Rs 120.70 crore. CDSL paid a dividend of Rs 12.75 per share for FY26, a yield of 1.01%. At a P/E of 55.91 against an industry P/E of 42.30, the stock trades above its industry multiple.

What to watch: The P/E of 55.91 sits above the industry P/E of 42.30, so earnings delivery matters for the valuation.

CARE Ratings: Rating Fees Anchor the Roadmap

CARE Ratings' roadmap rests on a credit rating agency that rates debt instruments and provides analytical services to borrowers and lenders, with rating fees linked to debt raised by companies supporting earnings.

Revenue grew from Rs 274.82 crore in FY22 to Rs 527.89 crore in FY26, a 92.1% rise, and FY26 revenue was 16.5% higher than FY25. FY26 net profit rose 24.1% to Rs 173.70 crore. Over four years, net profit rose from Rs 76.83 crore in FY22 to Rs 173.70 crore. In Q1 FY27, revenue grew 17.5% to Rs 126.48 crore, and net profit rose 24.5% to Rs 32.99 crore. Operating margin was 53.32% in FY26 and 44.26% in Q1 FY27 against 44.12% a year earlier.

Debt to equity is 0.03 and return on equity is 18.36%. FY26 operating cash flow was Rs 147.57 crore against capital expenditure of Rs 8.30 crore. CARE Ratings paid a dividend of Rs 22 per share for FY26, a yield of 1.43%. At a P/E of 25.70 against an industry P/E of 33.32, the stock trades below its industry multiple.

What to watch: Q1 FY27 operating margin was 44.26% against 53.32% for FY26, so margin stability is the figure to follow as volumes grow.

Tata Capital: A Diversified Loan Mix Drives the Pipeline

Tata Capital's roadmap rests on lending to retail, SME and corporate borrowers across personal, vehicle, home and business loans, with a diversified loan mix supporting growth.

Revenue grew from Rs 10,311.41 crore in FY22 to Rs 31,582.62 crore in FY26, a 206.3% rise, and FY26 revenue was 11.3% higher than FY25. FY26 net profit rose 33.8% to Rs 4,890.91 crore. Over four years, net profit rose from Rs 1,800.81 crore in FY22 to Rs 4,890.91 crore. In Q1 FY27, revenue grew 14.7% to Rs 8,825.38 crore, and net profit rose 56.4% to Rs 1,628.18 crore.

Debt to equity is 5.15 and return on equity is 10.57%. Tata Capital paid a dividend of Rs 0.57 per share for FY26, a yield of 0.18%. At a P/E of 24.41 against an industry P/E of 17.72, the stock trades above its industry multiple.

What to watch: The P/E of 24.41 sits above the industry P/E of 17.72, so earnings delivery matters for the valuation.

Best Depository, Credit Rating and Diversified Lender Stocks in India: CDSL vs CARE Ratings vs Tata Capital on Key Financials

Among the best depository, credit rating and diversified lender stocks in India, CDSL leads on return on equity and the lowest debt to equity; CARE Ratings leads on FY26 revenue growth and Q1 FY27 revenue growth; Tata Capital leads on Q1 FY27 net profit growth and the lowest P/E. The table puts the numbers side by side.

Metric	CDSL	CARE Ratings	Tata Capital
FY26 revenue (Rs Cr)	1,238.50	527.89	31,582.62
FY26 revenue growth	3.3%	16.5%	11.3%
FY26 net profit (Rs Cr)	455.08	173.70	4,890.91
Q1 FY27 revenue growth (YoY)	15.4%	17.5%	14.7%
Q1 FY27 net profit growth (YoY)	14.9%	24.5%	56.4%
Return on equity	23.27%	18.36%	10.57%
P/E ratio	55.91	25.70	24.41
Debt to equity	0.00	0.03	5.15
Dividend yield	1.01%	1.43%	0.18%

Financial services earnings follow market activity, rating mandates and loan growth, so full-year numbers and quarterly trends together give a better view.

How to Evaluate Depository, Credit Rating and Diversified Lender Stocks to Buy Before You Invest

A short checklist keeps the research consistent when you screen depository, credit rating and diversified lender stocks and shortlist depository, credit rating and diversified lender stocks to buy.

Compare each stock's P/E with its industry P/E, which differs by company here.
Check revenue growth, margins and return on equity together.
Check whether revenue growth is turning into profit growth, not only sales.
Read loan growth against funding costs to see how growth is financed.
Watch debt to equity and interest cover before sizing a position.
Spread exposure across companies and business lines instead of one demand cycle.

Check the Univest Screener for live data on these depository, credit rating and diversified lender stocks

Risks to Consider Before Investing in Depository, Credit Rating and Diversified Lender Stocks

Market activity: Slower capital markets can affect fee income.
Regulation: Rule changes can affect pricing and product mix.
Quarterly trends: A single weak quarter can change near-term earnings, so track results every quarter.

Download the Univest iOS App or Univest Android App to track CDSL, CARE Ratings and Tata Capital live.

Final Take: Which Stock Has the Strongest Roadmap?

These three capital markets and lending stocks cover depository services, credit ratings and diversified lending. CDSL leads on return on equity and the lowest debt to equity; CARE Ratings leads on FY26 revenue growth and Q1 FY27 revenue growth; Tata Capital leads on Q1 FY27 net profit growth and the lowest P/E.

Across depository, credit rating and diversified lender stocks, each roadmap still has to turn growth into steady profit, so independent research and position sizing matter. Investors should consult a SEBI-registered advisor before acting on any of the depository, credit rating and diversified lender stocks to buy discussed here.

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).

FAQs on Depository, Credit Rating and Diversified Lender Stocks

Which are the best depository, credit rating and diversified lender stocks in India with a strong roadmap?

Ans. Central Depository Services (India), CARE Ratings and Tata Capital stand out for their roadmaps in depository services, credit ratings and diversified lending. FY26 revenue growth was 3.3% at CDSL, 16.5% at CARE Ratings and 11.3% at Tata Capital, and return on equity ranges from 10.57% to 23.27%.

Is Central Depository Services (India) a good stock to buy now?

Ans. Central Depository Services (India) has a debt to equity ratio of 0.00, a return on equity of 23.27% and a P/E of 55.91 against an industry P/E of 42.30. Valuation, market activity and regulation move results. This article is not investment advice, so consult a SEBI-registered advisor before deciding.

What is the P/E ratio of CDSL, CARE Ratings and Tata Capital?

Ans. The P/E ratio is 55.91 for CDSL (industry 42.30), 25.70 for CARE Ratings (industry 33.32) and 24.41 for Tata Capital (industry 17.72). Only CDSL and Tata Capital trade at or above the industry multiple.

Which of these depository, credit rating and diversified lender stocks has the highest return on equity?

Ans. Central Depository Services (India) has the highest return on equity at 23.27%, followed by CARE Ratings at 18.36% and Tata Capital at 10.57%.

What are the risks of investing in depository, credit rating and diversified lender stocks?

Ans. The main risks are market activity, regulation and quarterly trends. Slower capital markets can affect fee income.

How did CDSL, CARE Ratings and Tata Capital perform in Q1 FY27?

Ans. Central Depository Services (India) reported revenue of Rs 340.50 crore, up 15.4% year on year, and net profit rose 14.9% to Rs 117.67 crore. CARE Ratings reported revenue of Rs 126.48 crore, up 17.5% year on year, and net profit rose 24.5% to Rs 32.99 crore. Tata Capital reported revenue of Rs 8,825.38 crore, up 14.7% year on year, and net profit rose 56.4% to Rs 1,628.18 crore.

Do depository, credit rating and diversified lender stocks pay dividends?

Ans. Yes, all three companies pay dividends. The dividend yield is 1.01% for CDSL, 1.43% for CARE Ratings and 0.18% for Tata Capital, based on dividends declared for FY26.

How can I invest in depository, credit rating and diversified lender stocks in India?

Ans. You can buy depository, credit rating and diversified lender stocks through a demat and trading account on NSE or BSE after checking each company's financials, margins and valuation. The Univest Screener lets you compare fundamentals before placing an order. Investments in securities are subject to market risk, so consider your risk profile first.