Angel One Surges After Profit Jumps 27%

Angel One's stock rose as much as 8.69% during the day on the NSE, before cooling off to 3.49%.

<div class="paragraphs"><p>Representational image. (Source: Pixaby)</p></div>
Representational image. (Source: Pixaby)

Shares of Angel One Ltd. jumped over 8% Thursday after the stock-broking firm's net profit grew 27% year-on-year to Rs 340 crore in the fourth quarter of financial year 2024. It had posted a profit of Rs 267 crore in the corresponding period of the fiscal 2023, according to an exchange filing on Wednesday.

Angel One Q4 FY24 Earnings Highlights (Consolidated, YoY)

  • Revenue up 64% at Rs 1,357 crore.

  • Net profit up 27% at Rs 340 crore.

Angel One Surges After Profit Jumps 27%

On the NSE, Angel One's stock rose as much as 8.69% during the day to Rs 3,100 apiece, the highest since April 4. It was trading 3.49% higher at Rs 2,951 per share, compared to a 0.38% advance in the benchmark Nifty 50 as of 09:38 a.m.

The share price has risen 127.50% in the last 12 months and fallen 15.56% on a year-to-date basis. The total traded volume so far in the day stood at 11 times its 30-day average. The relative strength index was at 53.81.

Six out of the nine analysts tracking the company have a 'buy' rating on the stock, one recommends 'hold and two suggest 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 23.7%.

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