S D Retail Limited — Others, 10-01-2025: Certificate under SEBI (Depositories and Participants) Regulations, 2018

S D Retail Limited has provided a certificate confirming that no requests were made for dematerialization or rematerialization of shares for the quarter ended December 31, 2024. This lack of activity indicates steady shareholder engagement, with no changes to the share structure during this period.

Such stability could reflect positively on investor sentiment, suggesting confidence in the company's operations and governance. However, investors should remain aware that ongoing low activity may indicate a lack of liquidity or trading interest, which could pose a potential risk in market fluctuations.