Angel One shares climb 8% as Q3 client base jumps 56% YoY, average daily turnover surge

Shares of Angel One Ltd climbed 8 per cent in Thursday's trade after the broking firm reported a 55.5 per cent year-on-year (YoY) surge in client base at 1.94 crore in the December quarter over 1.25 crore in the corresponding quarter last year. On  sequential basis, the client base rose 14 per cent over 1.7 crore in the September quarter, Angel One said in a BSE filing.

Following the development, the Angel One stock rose 7.68 per cent to hit a high of Rs 3,749 on BSE. With this, the stock is up 22 per cent in the last one month and a solid 174 per cent in the last one year.

In value terms, the overall average daily turnover (ADTO) stood at Rs 35,97,100 crore, up 148.50 per cent YoY over Rs 14,47,800 crore in the same quarter last year. The average daily F&O segment turnover jumped 151.3 per cent, cash segment 53.5 per cent and commodity segment by 86.4 per cent YoY.

Angel One said the number of orders for the quarter rose 54.7 per cent YoY to 35 crore from 22.64 crore in the year-ago quarter. Average daily orders, Angel One said, stood at 58.4 lakh against 37.1 lakh YoY, up 57.3 per cet YoY.

Angel One said gross client acquisition jumped 149 per cent YoY to 24.6 lakh against 21.2 lakh in the September and 9.9 lakh in the same quarter last year. The average client funding book stood at Rs 1,859 crore in the December quarter against Rs 1,416 crore in the same quarter last year. On a sequential basis, average client funding book was up 32.1 per cent over Rs 1,407 crore in the September quarter. 

Also read: Bajaj Auto, M&M & Tata Motors: Here's what AK Prabhakar of IDBI Capital says on these 3 stocks

Also read: Top 5 stocks to watch on January 4, 2024: Adani Ports, Vedanta, Torrent Power and more