Angel One share price spikes over 10% to 52-week high on upbeat monthly business update
Angel One share price spiked over 10% to hit a 52-week high on Wednesday after the stock broking company posted an upbeat monthly business update registering a sharp 51% year-on-year (YoY) rise in its client base during November. Angel One shares rallied as much as 10.33% to a fresh 52-week high of ₹3,246.00 apiece on the BSE. In a regulatory filing, Angel One reported a 51.3% YoY increase in its client base at 1.85 crore in November 2023 from 1.22 crore in the same month last year.
The growth in client base was 3.8% from October 2023. Also Read: Adani Ports share price hits fresh 52-week high; brokerages Kotak, Citi see further upside The number of orders during the month also increased 51.4% YoY to 10.72 crore in November. On a month-on-month (MoM) basis, the number of orders grew 1.2%.
Angel One’s average daily turnover (ADTO) jumped by 164.9% to ₹34.36 lakh crore from ₹ ₹12.97 lakh crore, YoY, while it rose by 9% MoM from ₹31.53 lakh crore. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) F&O segment’s ADTO growth in November was 169.3% YoY and 9.2% MoM at ₹33.94 lakh crore. Cash segment’s average daily turnover rose 33.2% YoY to ₹5,000 crore.
The average daily turnover of the commodity segment increased 70.4% to ₹32,300 crore. However, it dropped 9% from October 2023. Also Read: Nifty 50 likely to touch 23,200 by end of 2024, ICICI Securities forecasts; check out top picks Meanwhile, the brokerage firm's average client funding book in November grew 43.5% YoY to ₹1,855 crore.
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