Angel One achieves milestone of 10 million clients; stock spurts ~3.5%

Angel One has marked its place in the retail broking industry in India.

May 27, 2022 12:58 IST | India Infoline News Service
Angel One Limited showcases a phenomenal performance by expanding its client base to 10 million and has doubled the client base since March’21.

This new milestone is evidence of the confidence the management demonstrated with its decision of transforming from a physical to a digital player in the retail broking industry. This high conviction has translated into 10 million app ratings and has ensured Angel One is their favorite wealth generation destination.

The company has achieved this evolution of tech-enabled platform coupled with client first approach along with simplicity has been achieved with strong operating margins & profits.

Angel One has been outstanding in the retail broking industry in India.

In the financial year ended March 31, 2022, the company’s share in India’s Demat accounts and NSE active client base expanded to 10.3% and 10.1% respectively. While its shares in incremental NSE active clients have reached 12.2% during the current fiscal year.

Angel One’s average daily turnover grew by 226.30% yoy to Rs6.5 trillion which further increased to Rs9.5 trillion in April’22, reflecting 114.40% yoy growth.

The company recorded 680.10 million orders in FY22, representing a growth of 97.30% yoy. The company’s number of orders witnessed a jump of 65.70% yoy in April’22 to 66.10 million.

Angel One is currently trading at Rs1,355 up by Rs45.35 or 3.46% from its previous closing of Rs1,309.65 on the BSE. The scrip touched an intraday high and low of Rs1,387.80 and Rs1,319.10 respectively.

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