fbpx

Angel One Stock Hits ₹3,000, Market Cap Soars to ₹25,500 Crore; What’s Fueling the Surge?

Angel One’s shares achieved a significant milestone by surpassing the ₹3,000 mark for the first time in today’s session, reaching a new all-time high at ₹3,090 per share. The stock has displayed remarkable performance year-to-date, delivering a substantial return of 130%, surging from ₹1,320 to ₹3,035.

Notably, Angel One’s stock has consistently yielded positive returns since its listing in October 2020. In CY21, it recorded an impressive return of 249%, followed by an 11% gain in the subsequent year.

With the stock crossing the ₹3,000 threshold, the company’s market capitalization achieved a milestone, exceeding ₹25,000 crore in today’s trade and reaching ₹25,465 crore. This year alone, the company’s market cap has increased by ₹14,465 crore.

As the largest listed retail stock broking house in India based on active clients on the NSE, Angel One reported a robust performance for the September quarter (Q2FY24). The company’s consolidated net profit saw a significant 42% increase, reaching ₹304 crore compared to ₹214 crore in the same quarter of the previous fiscal.

Angel One’s total revenue from operations also experienced a notable rise of 38.59%, reaching ₹1,049 crore in Q2 FY24, compared to ₹745 crore in the corresponding period of the previous year.

During Q2 FY24, the company achieved a record-high client addition, bringing in 2.1 million clients and expanding its client base to 17.1 million as of September 2023, representing a 13.3% increase on a quarterly basis and a substantial 47.6% growth year-on-year.

In terms of transactions, the number of orders in 2QFY24 stood at 338 million, reflecting a 47% YoY increase. The average daily turnover (ADTO) surged to ₹29.6 trillion in Q2FY24, marking a 30.3% quarterly increase and an impressive 143.4% YoY surge.

Angel One’s retail turnover market share in the overall equity segment reached 26.2% in Q2FY24, demonstrating a noteworthy 452 basis point improvement on a YoY basis, as disclosed in the company’s exchange filing.

Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.​​

We will be happy to hear your thoughts

      Leave a reply

      Share Price India News
      Logo