At 18.8% growth YoY, the number of orders rose to 83.50 million. But, the stock has declined 28% in the last six months, while falling 14% year-to-date.

Angel One's client base swells 52.2% YoY to 13.33 million in Feb'
Fintech company Angel One, formerly known as Angel Broking, recorded progressive 52.2% YOY growth in its client base as it reached 13.33 million in February 2023, acquiring 0.45 million clients.

The company witnessed robust growth across all business parameters in February 2023. Its retail turnover market share increased to 22.6%, a 178 bps YoY expansion. At the same time, the overall average daily turnover touched Rs 17.57 trillion, a 97.8% YoY growth.

The number of orders rose to 83.50 million, recording 18.8% growth YoY. The average client funding book stood at Rs 12.99 billion.

“Our ongoing progression in business is backed by our strong tech-enabled growth strategies. By leveraging technology effectively, we are empowering people to reap the benefits of equities and allied products, in their wealth creation journey,” said Dinesh Thakkar, Chairman and Managing Director of Angel One.

At 1.07 pm, the stock was trading 0.6% lower at Rs 1,131.4 on the BSE. The stock has declined 28% in the last six months, while it has fallen 14% year-to-date.

As per Trendlyne data, the highest target price for the stock goes up to Rs 2,100, while the average target price estimate is Rs 1,769 — showing an upside of 56% from the current market prices. The consensus recommendation from five analysts for the stock is a strong buy.

Prabhakar Tiwari, Chief Growth Officer of Angel One, said, “We have been witnessing robust growth in our business metrics as we effectively leverage our digital capabilities. Our continuously improving performance highlights the supremacy of our product, seamless client experience, strong digital marketing strategies and engagement journeys built.”

Angel One is the largest listed retail stock broking house in India, in terms of active clients on the NSE. Angel One is a technology-led financial services company providing broking and advisory services, margin funding, loans against shares and distribution of third-party financial products to its clients.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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