Angel One shares under pressure after March business update

Angel One shares took a hit on Thursday after the brokerage released a sequential decline in orders amid a decrease in the number of trading days in March. The stock of Mumba-based Angel One fell by as much as Rs 200.1, or 6.3 per cent, to Rs 2,970.2 apiece on BSE. 

At 2:07 pm, Angel One shares were down 4.3 per cent at Rs 3,034.4 apiece on BSE, having begun the day on a mildly positive note in a strong Mumbai market. 

In a regulatory filing released before market hours on Thursday, Angel One said the daily orders on its platform averaged 7.35 million in March, as against 8.22 million in the previous month and 4.44 million in March 2023. 

The total number of orders stood at 132.25 million last month, as against 172.66 million in February and 93.23 million in March 2023, Angel One said.

The financial services company's client base came in at 22.24 million in March, as against 21.43 million the previous month and 13.78 million in March 2023, with gross addition at 0.84 million, 1.01 million and 0.45 million, respectively. 

There were 18 trading days in March, in contrast to 21 days each in February 2024 and March 2023. 

(This story will be updated shortly)

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