Angel One notches over 10% gains to mark all-time high: Know what triggered gains

In its business update, the company said its month-on-month (MoM) client base in November increased by 3.8 per cent to 18.5 million. This was 12.19 million in the same period last year.

It provides broking and advisory services, margin funding, loans against shares, and distributes financial products.

Shares of the broking firm Angel One surged to a new record high of Rs 3,246 apiece on Wednesday, December 6. In its business update, the company said its month-on-month (MoM) client base in November increased by 3.8 per cent to 18.5 million. This was 12.19 million in the same period last year.

Gross client acquisition has also doubled at the broker in a year to 0.68 million.

The BSE filing by the company said the average client funding book during the month stood at Rs 1,855 crore.

Earlier, the company intimated about its investors meeting with Motilal Oswal Securities and PhillipCapital, which is scheduled to take place between December 4–7 and December 12, respectively.

Shares of the brokerage on a year-to-date (YTD) basis have gained a substantial 141 per cent, while its three-year return is 809 per cent.

Angel One, for the September quarter, posted an increase in net profit to Rs 304.5 crore as against Rs 213.6 crore in the same quarter last year. Revenue at the company also inched higher to Rs 1,049 crore as against Rs 746 crore registered in the corresponding period last year, even though operating expenses at the company increased.

With an m-cap of Rs 24,663 crore, the mid-cap firm is a full-service retail stock brokerage company. It provides broking and advisory services, margin funding, loans against shares, and distributes financial products.

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