 "Angel One stock up 3% on strong July biz update; client base surges 65% YoY")
Angel One July Biz Update Impact: Shares of Angel One jumped as much as 2.72 per cent to hit an intraday high of Rs 2,178.95 per share on Tuesday, August 06, 2024.
However, at 11:28 AM, shares of Angel One were off highs and were trading 1.04 per cent lower at Rs 2,099.15 per share. In comparison, BSE Sensex was up 0.65 per cent at 79,270.67 levels.
The uptick came after Angel One announced a strong set of numbers in its July business update. Its client base rose 64.8 per cent to 25.79 million in July 2024, as opposed to 15.65 million in the same month last year (July 2023). The client base also surged 4.3 per cent M-o-M, from 24.72 million in June 2024.
The brokerage firms’ gross client acquisition soared 85.7 per cent annually to 1.14 million in July 2024, from 0.61 million in July 2023.
The company’s average client funding book jumped 216.4 per cent Y-o-Y to 37.32 crore in July 2024, from 11.80 crore in July 2023.
In July 2024, Angel One’s number of orders increased 57.1 per cent annually to 171.32 billion, from 109.05 billion in the same month last year.
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The brokerages’ average daily orders surged 50 per cent Y-o-Y to 7.79 million in July 2024, from 5.19 million in July 2023.
Angel One’s unique MF SIPs registered skyrocketed 282.8 per cent 7.66 lakh in July 2024 from 2 lakh in July 2023.
Furthemore, the brokerage firm’s overall Average daily turnover (ADTO) based on Notional Turnover climbed 54.5 per cent annually to Rs 43,487 billion in July this year, as against Rs 28,153 billion in the same month last year.
On the other hand, ADTO based on Option Premium Turnover zoomed 63.4 per cent Y-oY to Rs 858 billion in July 2024, from Rs 525 crore in July 2023.
Angel One Ltd is a financial services company engaged in stock, commodity, and currency broking, as well as institutional broking.
Its diverse offerings include margin trading facilities, depository services, mutual fund distribution, NBFC lending, and acting as corporate agents for insurance companies.
The market capitalisation of Angel One is Rs 18,906.81 crore, according to the Bombay Stock Exchange (BSE). The company falls under the BSE 500 category.