Angel One says its client base is up about 146 percent over the year
Angel Broking Ltd
The share price of Angel One gained almost 4 percent in the morning trade on December 3 after the broking company reported that its client base during November grew to 7.32 million from 6.93 million in the previous month and was up about 146 percent on year.
The stock hit an intraday high of Rs 1,175 on the BSE and at 10.42 am, it was trading 3 percent higher at Rs 1,160. It is, however, still 31 percent away from its 52-week high of Rs 1,689.
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In November, the company’s overall average daily turnover rose 9.5 percent on month and 219 percent on year to Rs 7,217 billion.
The company’s retail turnover market share in the overall equity segment stood at 21 percent compared to 20.7 percent in October and 15.4 percent in November 2020.
The firm has seen consistent client growth in the past year on the back of market exuberance and rising retail participation. According to a report by ICICI Securities, the number of demat accounts in India rose to 55.1 million in FY21 from 40.9 million in FY20.
