Angel One Stocks Surge as Board Eyes Fundraising and Reports Growth

11 Jan 2024 , 02:06 PM

Angel One’s share price experienced an opening trade rise on January 11, anticipating board consideration for fundraising on January 15.

At the time of writing, Angel One is traded at Rs 3786.60, reflecting a 0.70% increase from the previous close.

The upcoming board meeting, scheduled for January 15, 2024, will not only discuss and approve unaudited financial results but also consider a proposal for raising funds through non-convertible securities on a private placement basis.

In December, Angel One reports a 55.5% YoY increase in its client base, reaching 1.95 crore, and a 221.5% rise in Gross Client Acquisition, reaching 0.10 crore. Order volume surges by 59.2% YoY to 13.72 crore, with the quarter ending in December seeing a 54.7% jump to 35 crore.

On January 8, Angel One appoints Ms. Anuprita Daga as its Group Chief Information Security Officer (CISO), responsible for enhancing information security, cyber security, and data privacy framework.

Angel One’s stock achieves a 52-week high of Rs 3,900.35 and a 52-week low of Rs 1,000 on January 9, 2024, and March 1, 2023, respectively. Currently, shares trade 2.44% below the 52-week high and 280.5% above the 52-week low.

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