Angel One Q3 Client Base Jumps 56%, Drives Stock To A Record
The stockbroking firm's gross client acquisition was 2.46 million, compared to 0.99 million in the year-ago period, the company said.
Shares of Angel One Ltd. surged over 7% to hit an all-time high on Thursday after its client base jumped 56% year-on-year to approximately 19.5 million in the quarter ended December.
The stockbroking firm's gross client acquisition was 2.46 million, compared to 0.99 million in the year-ago period. The number of orders rose 55% year-on-year to 350.4 million, according to an exchange filing of its third-quarter business update.
Angel One's stock rose as much as 7.78% during the day to Rs 3,750 apiece on the NSE. It was trading 3.98% higher at Rs 3,617.90 apiece compared to a 0.57% advance in the benchmark Nifty 50 at 10:36 a.m.
The stock has risen over 170% in the last 12 months. The total traded volume so far in the day stood at 18 times its 30-day average.
Nine analysts tracking the company have a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 23.4%.
