Angel One share up 7% as co revises brokerage charges; check new rates here

Angel One share price: Domestic brokerage firm Angel One share surged up to 7.38 per cent to hit an intraday high of Rs 2,751 per share on Tuesday, October 01, 2024. 

The rise in Angel One share price came after the company announced that it will revise brokerage charges with effect from November 1, 2024. 

Angel One brokerage charges

The revisions include major changes to the Securities Transaction Tax (STT), which will see the tax on futures sales increase to 0.02 per cent from 0.0125 per cent and the tax on options sales rise to 0.1 per cent of the premium from 0.0625 per cent. 

 

“The introduction of charges for cash / equity delivery is aimed at offsetting the revenue loss that arose from SEBI's "True to Label" Circular. It may be noted that key discount broker and competitor Groww had also introduced charges for cash / equity delivery,” said Shivaji Thapliyal, head of research at Yes Securities.

Also Read: Transaction charges on NSE, BSE, MCX, Higher STT from today; Things to know

Meanwhile, IPFT Charges are set at Rs 10 per crore of traded value for NSE equity and futures, plus 18 per cent GST. For NSE equity options, the charge is Rs 50 per crore of premium value, also subject to 18 per cent GST. In the NSE currency segment, the fees are Rs 2 per lakh of premium value for options and Rs 0.05 per lakh of traded value for futures, both with an additional 18 per cent GST. 

The NCDEX Risk Management Fee will be charged at 0.10 per cent (Rs 100 per lakh) on the premium value of every fresh overnight open interest position. 

For Exchange Transaction Charges, the MCX rates for futures stand at 0.00210 per cent, while options have been revised to 0.0418 per cent from the previous 0.05 per cent. The NSE charges are 0.00297 per cent for cash, 0.00173 per cent for equity futures, 0.03503 per cent for equity options, 0.00035 per cent for currency futures, and 0.0311 per cent for currency and interest rate options. 

The BSE charges for index and stock futures are 0 per cent, while Sensex 50 and stock options are set at 0.0050 per cent, and Sensex/Bankex options at 0.0325 per cent. For NCDEX, the charges are 0.005800 per cent for futures, 0.030000 per cent for options, and 0.015000 per cent for guar seeds options.

DP Charges are fixed at Rs 20 plus GST. For male clients, this includes Rs 3.5 for the depository charge and Rs 16.5 for the Angel One charge, totaling Rs 20 plus GST. For female clients, the depository charge is Rs 3.25, and the Angel One charge is Rs 16.75, also totaling Rs 20 plus GST.

The above mentioned changes in STT, including IPFT charges, NCDEX risk management fee, Exchange transaction charges, DP charges, and Pledge/Unpledge charges, wre changed effective today, October 1, 2024.   

In addition to the regulatory changes, Angel One will implement new commercial charges starting November 1, 2024. These include an annual maintenance charge of Rs 60 per quarter for non-BSDA accounts from the second year onward and interest on cash collateral margin shortfalls exceeding Rs 50,000, set at 0.0342 per cent per day.

The firm is also introducing a 50-50 margin rule, requiring clients to maintain at least half of their margin in cash or cash equivalents. Furthermore, new delivery charges will be levied at a flat rate of Rs 20 or 0.1 per cent plus GST, whichever is lower, with a minimum brokerage fee of Rs 2. Interest rates on outstanding dues under the Margin Trading Facility will rise to 14.99 per cent per annum, charged fortnightly.

What to do with the stock now?
Angel One stock has fallen about 24 per cent this year-to-date (Y-T-D). The scrip, however, has risen about 47 per cent in the past year.
 

“Angel One trades at a FY26E P/E of 16.8x and P/B of 3.5x as of yesterday's close and the stock is currently up 4 per cent plus in trade. We currently have a ‘Buy’ rating on the stock,” Thapliyal further said.
 

At 11:53 AM, shares of Angel One were trading 5.59 per cent higher at Rs 2,704.85 per share. In comparison, BSE Semsex was trading flat at 84,308.54 levels.