Angel One shares rise up to 7% on company's better monthly business update

Shares of the broking major Angel One in Monday's trade rose up to 7 per cent to day's high price of Rs 2406.35 as the company earlier today released its monthly business update.

The company informed that on a month-on-month basis, the company’s client base has increased to 23.83 million in May as against 22.99 million in the previous month. The same was 14.59 million in the corresponding period of the previous year, registering a remarkable 63.3 per cent growth on-year.

The gross client acquisition during the month has been at 0.88 million or 8.8 lakhs, while the same was at 7.6 lakhs in the previous month, translating into a 16.9 per cent growth month-on-month.

The number of orders during the review month also increased to 158.72 million as against 90.6 million in May of the previous year.

Also, average daily orders at the Mumbai-based company also registered a month-on-month increase of 11.6 per cent to 75.6 lakhs as against 67.7 lakhs in the prior month. In May 2023, the same was at 40.12 lakhs, a substantial increase of 83.5 per cent on-year.

For the month, the company’s overall average daily turnover based on notional turnover is pegged at  Rs 43,79,900 crore, while the same has been at Rs 22,03,700 crore during the same period of the previous year.

What brokerages and analysts suggest on Angel One?

Earlier in April, Motilal Oswal Financial Services gave the most bullish target for Angel One with a buy rating of Rs 4200.The company said that with the Rs 1500 crore  fund raise in place, it is well positioned to grow business across key parameters such as client acquisition, orders and MTF book. Additionally, new segments such as loan distribution and fixed income product distribution should scale up in the near term. Over the long term, AMC and Wealth Management will start contributing to revenues. 

We have raised our FY25/FY26 EPS estimates by 6%/8% to factor in the scale-up in business after the fund raise. On the other hand, IPL-related expenses have led to a cut in our EBIDTA margin estimates. We reiterate our BUY rating on the stock with a revised TP of INR 4,200 (premised on 20x Mar’26E EPS}, the brokerage added.

The consensus recommendation from 7 analysts for Angel One  is Buy, shows Trendlyne research data.

Angel One’s share price performance

Shares of the company in market mayhem yesterday fell by as much as 13 per cent to Rs 2,247.85. The stock currently has fallen 42.3 per cent from its 52-week high. In the past one year, the stock has gained 71.2 per cent.