Tag: Angel Broking

Angel One shares drop despite numbers bettering analyst estimates; high expenses weigh

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Investment services provider Angel One Ltd. on Thursday reported strong operational numbers for the June quarter, beating analyst estimates.

As expected from the robust monthly updates for the past couple of months, Angel One posted decent growth in operations. However, profit numbers took a hit on higher employee expenses due to a one-off in the March quarter.

The company’s revenue from operations rose 2.2 percent in the June quarter to Rs 826 crore compared to Rs 808 crore in the previous quarter.

Profit after tax (PAT) dropped 17 percent to Rs 221 crore during the June quarter as against Rs 267 crore in the March quarter. Employee expenses were up 63.3 percent to Rs 123.2 crore compared to Rs 75.5 crore in the March quarter.

Consequently, the company’s cost-to-income ratio was higher at 53 percent in the June quarter compared to 44 percent in the March quarter.

Angel One’s market share in the NSE active client base also increased 120 basis points during the June quarter to 14.3 percent in comparison to 13.1 percent in the previous quarter.

The overall retail equity average daily turnover (ADTO) was up 175 basis points to 24.5 percent in the June quarter compared to 22.8 percent in the March quarter.

Angel One’s board of directors also recommended a dividend of Rs 9.25 per equity share of Rs 10 each, as an interim, equivalent to 35 percent of consolidated profit after tax for the quarter.

Shares of Angel One are trading 2.15 percent lower at Rs 1,708.35.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Angel One Q1 Update: Client acquisition rises QoQ, F&O market share rises

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Investment services provider Angel One Ltd. reported a 9.3 percent month-on-month growth in client base at 15.06 million in June 2023 compared to 14.59 million in May 2023.

The client base increased sharply by 44.7 percent year-on-year compared to 10.41 million in June 2022.

Its gross client acquisition surged 2.5 percent to 1.33 million in June compared to 1.29 million in May while on a yearly basis, the brokerage saw a 5.4 percent growth compared to 1.26 million in June 2022.

Angel One’s client funding book witnessed a decline in June 2023, which dropped 17 percent month-on-month to Rs 20.91 billion from Rs 13.41 billion in May. On a yearly basis, the client funding book contracted 37.5 percent from Rs 17.45 billion in June 2022.

The number of orders also declined 5.4 percent to 248.57 million in June from 262.72 million in May. On the other hand, orders increased 20 percent year-on-year compared to 206.92 million in June 2022.

Average daily orders declined 2.2 percent month-on-month to 4.14 million in June, but the brokerage saw a healthy growth of 24.1 percent compared to 3.34 million in June 2022.

Average daily turnover also increased 22.9 percent to Rs 22,726 billion in June from Rs 18,488 billion in May while a sharp 141 percent growth was witnessed year-on-year compared to Rs 9,398 billion in June 2022.

Angel One expanded its retail turnover market share across segments such as equity, Futures and Options (F&O), and cash on a monthly basis. However, it lost market share in the cash segment on a year-on-year basis.

The overall market share of the brokerage increased by 175 basis points to 24.5 percent in June from 22.8 percent in May 2023 and by 374 basis points compared to 20.8 percent in June 2022.

The market share in the F&O segment also expanded by 175 basis points to 24.6 percent in June compared to May while on a yearly basis, it jumped 372 basis points from 20.8 percent in June 2022.

Angel One Ltd., a full-service retail brokerage company, is engaged in the business of stock, currency, and commodity broking providing margin trading facilities, depository services, and distribution of mutual funds to its clients.

Shares of Angel One ended 1.34 percent higher at Rs 1,798.25 on Wednesday.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Angel One shares rise after gross client acquisition in February rises 15% from last month

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Brokerage firm Angel One Ltd. on Friday announced that it saw an increase in its total client base on the back of solid growth in new customer acquisition in the month of February. In its monthly business update, the company said that its client base rose to 13.33 million in February from 12.89 million in January, a jump of 3.4 percent month-on-month.

Angel One’s gross client acquisition saw a good growth rate of 15 percent, with the company adding 45 lakh new clients in February compared to 39 lakh clients in January.

After the announcement, shares of Angel One rose as much as 4 percent from its previous close in early trade on Friday to hit an intra-day high of Rs 1,103 apiece on the BSE.

The company also said that it processed a lower number of orders last month due to fewer trading days in February compared with the previous month.

The number of orders processed in February stood at 83.5 million, down 2.9 percent from 86 million in January.

The average client funding book also dropped 6.8 percent to Rs 1,299 crore in February from Rs 1,393 crore in January.

Besides that, Angel One also posted an increase in its retail turnover market share across segments, except in the cash segment. Its market share in the overall equity segment (including both cash and futures and options) increased to 22.6 percent in February compared to 21.9 percent in January.

In the cash segment, however, its market share slipped to 12.7 percent in February from 13 percent in January.

The company saw its commodity market share increase by nearly 600 bps in February to 56.9 percent from 51.1 percent in January. This was its highest growth rate in the segment in the last 18 quarters.

Shares of Angel One are trading nearly 7 percent higher at Rs 1,134.15.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Angel One shares halve from their peak, hit new 52-week low on Thursday

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Shares of brokerage house Angel One hit a fresh 52-week low on the bourses during intraday trade on Thursday despite gaining market share in the month of January.

The stock opened at Rs 1,078.05 on the BSE and witnessed a downward trend to touch a new 52-week low at Rs 1,043.65.

A similar movement was seen on the National Stock Exchange (NSE), wherein the stock hit its lowest level in 52 weeks at Rs 1,042.5.

The stock price has now halved from its 52-week high of Rs 2,022 touched on April 28, 2022. In the last three months, the stock has tumbled over 25 percent, and over 18 percent in the past year.

Last week, Angel One’s Chief Executive Officer Narayan Gangadhar resigned from his post citing personal reasons. Gangadhar will continue in his post till May 16 this year.

The day-to-day affairs of the company will be run by Dinesh Thakkar as Chairman and Managing Director (CMD).

Earlier this month, the brokerage house announced that it acquired 3.9 lakh new customers in January, which was 20 percent higher than the 3.3 lakh customers it reached in December 2022.

The gross client acquisition has seen a good surge in January and is now back at September 2022 levels, according to the brokerage firm. The company’s total client base also increased by 3 percent to 1.29 crore in January from 1.25 crore in December.

Angel One also witnessed an increase in market share across all segments such as equity, futures and options, and cash. However, it lost market share in the commodity segment.

Shares of Angel One are trading 0.20 percent higher at Rs 1,078.75.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Angel One CEO Narayan Gangadhar announces resignation citing personal reasons

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Angel One, on Friday, announced the resignation of its Chief Executive Officer Narayan Gangadhar citing personal reasons. Gangadhar will continue with his post till May 16 May this year.

“Mr Narayan Gangadhar has resigned from the post of Chief Executive Officer (CEO) and Key Managerial Personnel of the Company with effect from close of business hours of May 16, 2023,” the company announced.

Angel One further informed that the day-to-day affairs of the Company will be run by Dinesh Thakkar as Chairman and Managing Director (CMD).

Since a while, Angel One has been strengthening its core management team. The on-boarding of Mr. Dinesh Radhakrishnan as Chief Product and Technology Officer (CPTO) and on-boarding of Prateek Mehta as Chief Business Officer (CBO) are some of the important steps in this direction.

Also Read:Angel One gross client acquisition at five-month high, orders flat

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Angel One gross client acquisition at five-month high, orders flat

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Brokerage house Angel One on Friday said that it acquired 3.9 lakh new customers in January, which is 20 percent higher than the 3.3 lakh it reached in December 2022.

The gross client acquisition has seen a good surge in January and is now back at September 2022 levels. According to its monthly business update, the company’s total client base also increased by 3 percent to 1.29 crore in January from 1.25 crore in December.

Angel One’s client funding book witnessed positive traction in January, increasing 1.3 percent month-on-month to Rs 1,393 crore from Rs 1,375 crore.

The number of orders, however, dropped marginally to 8.6 crore in the month under review.

Angel One witnessed an increase in market share across all segments such as equity, Futures and Options, and cash. However, it lost market share in the commodity segment.

The company’s equity share grew 6 basis points to 21.9 percent in January from 21.8 percent in December while its cash market share went up by 27 basis points to 13 percent from 12.7 percent.

The commodity market share for Angel One declined 153 basis points at 51.1 percent in January as compared to 52.7 percent in December 2022.

Angel One Ltd., a full-service retail brokerage company, is engaged in the business of stock, currency, and commodity broking, providing margin trading facilities, depository services, and distribution of mutual funds to its clients.

Shares of Angel One are trading 1 percent higher at Rs 1,225.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Angel One drops 5% after gross client acquisition drops for third straight month

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Shares of brokerage house Angel One ended 5 percent lower on Monday after its gross client acquisition declined for the third straight month in November.

The company managed to acquire 3.2 lakh new customers in November, which was 6 percent lower than the 3.4 lakh it managed in October.

Angel One lost market share across all segments – F&O, Cash, and Commodity. It lost market share in the commodity segment for the first time in seven months.

The commodity market share for Angel One declined 210 basis points from October to 51.3 percent in November. Similarly, the company’s F&O market share dropped 60 basis points to 21.1 percent from 21.7 percent in October.

Angel One’s client funding book also witnessed a significant reduction in November, declining 18 percent month-on-month to Rs 1,292 crore from Rs 1,575 crore.

The number of orders, however, increased 2 percent from October to 7.08 crore, only due to a greater number of trading days.

Shares of Angel One ended at Rs 1,538.85, down 5 percent.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Angel Broking believes millennials will stay invested in equity

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Angel Broking has unveiled a new brand identity called ‘Angel One’, which will help it connect with the Gen Z or millennials and try and expand their target group. Dinesh Thakkar, Chairman and MD of Angel Broking discussed the motivation for rebranding and the core target group the company is trying to address with this.

“Our target audience remains millennials,” he said.

“India market is very underpenetrated and the trend that we are seeing of milennials coming to the market is secular and is here to stay,” he added.

“COVID accelerated this trend but it was unavoidable. When we are talking about India being young and people getting their first job, they don’t have any other alternative but to invest in equity as an asset class. So the trend we are seeing of participation from tier-II, tier-III and beyond, this access was never available to people,” he explained.

“By 2015-2016 we realized that India is much beyond just urban and tier-I and people like youth, millennial – very smartphone savvy – started using our mobile app to invest in market. That is where we digitized this whole thing to serve this group. Progressively, we have become more of a tech company. We thought that being a tech company we can offer a lot to end-customer, we can offer them solutions related to their personal finance,” he stated.

For the full interview, watch the accompanying video.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow