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.
