Angel One Shares Hiked 3.4% Growth in Client Base in February

Shares of Angel One rose after total customer acquisition rose 15% in February from the previous month.

Shares of Angel One up on March 3 due to a 3.4% growth in the company’s client base to 1.33 crore in February.

At 10.44 am, Angel One shares traded at Rs 1,084.90 on the National Stock Exchange, up 2.84%.

A total of 500,00 lakh shares changed hands on the exchanges, meaningfully advanced than the one-month daily average of 400,00 shares.

The gross client purchase saw a notable increase of 15% over the same period. The Mumbai-based retail broking company’s overall average daily income was also up by 3.4%, representing an unrelenting momentum in the company’s trading bulks.

In addition, the futures and options section also qualified for a boost, with the average daily turnover increasing by 3.4% monthly. Angel One’s retail equity market share also prolonged by 70 basis points, getting 22.6%, associated with 21.9% in the preceding month.

Despite a recoil, the stock endures trading near its 52-week low of Rs 999, verified on Monday. Additionally, it has tumbled by 45.5% from its all-time great in April 2022.

Over several months, shares of broking businesses have been burdened due to declining enthusiasm among retail investors instigated by economic worries, which has injured earnings for firms like Angle One.

While Angle One has accomplished to upsurge in its client base, its operating profit has continued relatively motionless over the past few quarters, representing that the company is also feeling the effects of the abridged retail investor movement.

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