Angel One stock crosses ₹3,000 mark, m-cap reaches ₹25,500 crore; what's driving the rally?

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Angel One reached a significant milestone, surpassing the ₹3,000 apiece mark for the first time in today's session and setting a new all-time high at ₹3,090 apiece. Year-to-date, the shares have shown impressive performance, yielding a multi-bagger return of 130%, surging from ₹1,320 apiece to ₹3,035. Impressively, the stock has been delivering positive returns since its listing in October 2020.

In CY21, it recorded a return of 249% and in the following year, it gained 11%. Also Read: BSE vs MCX: Which exchange stock to buy after an impressive rally? As the stock crossed the ₹3,000 mark, the company's market capitalisation also reached a milestone, surpassing ₹25,000 crore in today's trade, reaching ₹25,465 crore. This year, the company's market capitalisation jumped by ₹14,465 crore.

Angel One is the largest listed retail stock broking house in India in terms of active clients on the NSE. For the September quarter (Q2FY24), the company reported a 42% jump in its consolidated net profit to ₹304 crore. The company reported a consolidated net profit of ₹214 crore in the same quarter of the previous fiscal.

Also Read: Retail derivatives inflows in NSE at 100x that of cash Its total revenue from operations rose by 38.59%, reaching ₹1,049 crore in Q2 FY24, compared to ₹745 crore during the corresponding period of the previous year. In Q2 FY24, the company added 2.1 million clients, marking the highest-ever client addition in any quarter. This growth expanded the company's client base to 17.1 million as of the end of September 2023, representing a 13.3% increase on a QoQ basis and a 47.6% growth YoY.