Angel One shares are in focus after the market opened on Tuesday, following the company's second-quarter business update that showed a sharp increase in its client base but little growth in trading activity.
The company's client base rose 17.3% year-on-year to 40 million in the second quarter of FY27, compared with 34.1 million in the same period last year. However, average daily orders increased only 0.1% year-on-year to 5.6 million during the quarter.
Angel One Q2 Business Updates
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The number of orders increased 1.7% year-on-year to 366.5 million during the quarter. Gross client acquisition, however, declined 14% year-on-year to 1.5 million, compared with 1.7 million in the corresponding period last year.
Overall average daily turnover on notional turnover stood at Rs 45,134 billion during the quarter. Meanwhile, overall average daily turnover on option premium turnover rose 91% year-on-year to Rs 2,640 billion.
The growth in the client base was significantly higher than the increase in average daily orders during the quarter. Gross client acquisition also remained lower compared with the year-ago period.
September Business Updates
The brokerage also reported its September business update along with the Q2 updates, which show a 0.4% year-on-year increase in average daily orders to 5.82 million. The number of orders declined 4.1% year-on-year to 122.3 million during the month.
Gross client acquisition also declined by 17% year-on-year to 0.45 million in September.
The company's average daily turnover on notional turnover declined 7% year-on-year to Rs 44,879 billion in September. Overall average daily turnover on option premium turnover stood at Rs 2,797 billion during the month.
Angel One Share Price Performance
The brokerage house's stock has gained around 4.28% in the past week; however, it remained down over the past month.
During Monday's session, the stock closed at Rs 285.2 per share on the National Stock Exchange, gaining around 3.03%.
Investors will now track whether the company can increase its business using the growing client base.
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