Angel One Shares Jump Over 10% To Record As Client Base Grows

Shares of Angel One Ltd. jumped to hit lifetime high on Wednesday as its base and orders rose in November.

The brokerage's client base grew 3.8% over October and 51.3% year-on-year to 1.84 crore in November 2023, an exchange filing said. Orders rose 1.2% over the previous month and 51.4% on year to 10.72 crore.

Shares of the company rose as much as 10.45%, before paring gains to trade 8.5% higher at 10:45 a.m. That compares to a 0.3% advance in the NSE Nifty 50.

The stock has risen 144.5% year-to-date. The total traded volume so far in the day stood at 3.5 times its 30-day average. The relative strength index was at 71, implying that the stock may be overbought.

All eight analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside of 34.7%.