Angel One Shares Gain As Client Base Grows 50% Annually In Q4

Shares of Angel One Ltd. rose the most in two weeks as the company's client base logged a growth of nearly 50% in the fourth quarter of the financial year 2022-2023.

Angel One's client base grew 3.3% on a monthly basis to nearly 137.8 lakh customers in March, as compared to 133 lakh customers in February. On an annual basis, the client base grew 49.5% in the fourth quarter from 92.1 lakh customers in the same period of the previous financial year 2021-2022.

On the other hand, the client funding book dropped by 3.8% to Rs 125 crore, as compared to nearly Rs 130 crore in February. Also, it fell 17.5% to 131.4 crore in Q4FY23 as compared to 159.3 crore in the same period of FY22.

The number of orders logged in the month of March grew 11.7% to 9.32 crore in March as compared to 8.35 crore in February. On an annual basis, it advanced 24.6% to 26.27 crore orders in Q4 FY23 from 21.08 crore orders in the same quarter of FY22.

Additionally, on a monthly basis in March, the company's average daily turnover rose 18.5% month-on-month to Rs 20.83 lakh crore. Retail turnover of the market share rose 120 basis points to 23.8% from 22.6% in the previous month.

Shares of Angel One Ltd. rose 1.68% to Rs 1,188 apiece, as of 11:29 a.m. in trade on Thursday, compared to the 0.27% advance in the benchmark NSE Nifty 50 Index.

The stock gained as much as 3.91% intraday, the most in two weeks since March 23, 2023.

Total traded volume stood at 1.9 times its 30-day average. The relative strength index was at 59.3.

Out of the eight analysts tracking the company, six maintain a 'buy' rating, five recommend a 'hold,' and one suggests to 'sell' the stock, as per the Bloomberg data.

The return potential, as calculated by the consensus of analyst estimates, stands at an upside of 42.5% over the next 12 months.

Source: Bloomberg, Exchange filing