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Motilal Oswal Report
Angel One Ltd. released its monthly update highlighting its key business numbers for May 2022. The key takeaways are as follows:
Angel One's gross client acquisition run-rate saw an uptick to 0.47 million in May-22 versus 0.44 million in April 2022. The addition run-rate continues to remain better than our monthly estimate of 0.4 million in FY23.
Total client base for Angel One stood at 10.1 million as of May-22 (up 5% month-on-month and 109% YoY).
Average funding book saw a strong month-on-month growth (up 10%) of ~Rs 18.8 billion.
The number of orders stood at 70.6 million in May-22, up 7% month-on-month, whereas the number of orders per day saw a 4% monthly decline to 3.4 million.
Overall average daily turnover fell 6% month-on-month, with a 5.5%/27.5% decline in futures nd option/cash ADTO.
On a month-on-month basis, Angel One lost 150 basis points market share in the F&O segment, but gained 190 bps in the commodities segment.
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