Angel One stock-split explained: Why broking firm may show 90% fall in some apps today?

Angel One stock split: Multibagger broking stock Angel One Ltd may show up to 90 per cent fall in some trading apps today as the stock shall turn ex-split today, adjusting to the pre-announced corporate action. As the stock trade ex-date for subdivision, each equity share with a face value of Rs 10 will be subdivided into 10 equity shares of face value Re 1 each.

Angel One (formerly known as Angel Broking) had announced Thursday, February 26, 2026 as the record date for determining shareholders eligible for the subdivision. Existing investors need not worry. The ones holding Angel One share would receive nine additional shares, taking the total holding to ten shares post-split, keeping the value of their investment intact.

The stock split is expected to lead to a proportionate price adjustment, as one share converts into ten. Such corporate actions typically improve liquidity and affordability, making the stock more accessible and potentially encouraging broader retail participation.

Angel One had announced stock split on January 15, 2026 along with its earnings for December 2025 quarter. Shares of Angel One had settled at Rs 2491.20 on Wednesday, rising 1.20 per cent for the day. The broking firm commands a market capitalization of more than Rs 22,600 crore. Post the adjustment of stock split, the counter may trade around Rs 250 apiece.

Shares of Angel One Ltd have tumbled more than 24 per cent from its 52-week high at Rs 3,283, hit in June 2025. This is the first stock split announced by the company since its listing in October 2020, when the company raised a total of Rs 600 crore via IPO, selling its shares of Rs 306 apeice. As of its previous close, the stock has delivered a 715 per cent return in less than six years.

Beside the stock-split, Angel One has announced dividend four times. It gave a dividend of Rs 23 per shares in January 2026, Rs 26 in May 2024, Rs 11 in March 2025 and Rs 21 in January 26. The company recently raised Rs 50 crore via non-convertible debentures as it issue 5,000 NCDs of Rs 1,00,000 each on Tuesday, February 24.

Angel One reported an 11 per cent sequential increase in revenue, while net profit rose 27 percent quarter-on-quarter (QoQ) to Rs 269 crore for the December 2025 quarter. Ebitda margin for the quarter stood at 39 per cent, supporting broking revenues, while broking orders rose 6 per cent QoQ to 38 crore, while revenue per broking order rose to Rs 16 apeice.

Brokerage view on Angel One

Sequential growth momentum was maintained in 3QFY26, with the industry seeing recovery in F&O activity and a strong surge in commodity activity, offset by a volatile market impacting the retail cash activity, said Motilal Oswal Financial Services. "We raise our FY27/28 EPS estimates by 8 per cent/3 per cent, considering strong traction in distribution revenue and improvement in cash realization."

Motilal Oswal has a 'buy' rating on the stock with a target price of Rs 3,400. Overseas brokerage firm Citi also assigned 'buy' rating Angel One with a price target of Rs 3,215 per share. JM Financial has given it a 'buy' with a target price of Rs 2,900, while B&K Securities has a 'hold' rating on Angel One with a target price of Rs 2,690. All these targets are pre-split basis.

Stock split vs bonus shares

Stock splits and bonus issues may appear similar, but their objectives differ. A stock split subdivides existing shares into smaller units to enhance liquidity by reducing the face value, without altering the company’s share capital or reserves. Dividend per share adjusts proportionately in a split. A bonus issue, in contrast, involves issuing additional free shares to shareholders from accumulated earnings, without any change in face value.