Angel One Ltd, a leading stockbroking and financial services company, has seen a significant rise in its stock price over the past five trading sessions, with a 26.02% surge, adding ₹683.75 to current trading at ₹3,311.55 as of October 16, 2024, 10:12AM. The strong momentum is largely driven by the company’s robust Q2 FY24 results and positive investor sentiment.
Key Q2 FY24 Results Driving Stock Surge:
- Net Profit: Angel One’s net profit soared by 39.1% YoY to ₹423.4 crore.
- Revenue: The company reported a 44.5% increase in revenue, reaching ₹1,514.7 crore compared to ₹1,047.9 crore in the same quarter last year.
- EBITDA: EBITDA saw a substantial rise of 51.5% to ₹671.9 crore, with margins expanding by 210 basis points to 44.4%, up from 42.3% last year.
- Client Base Growth: The total client base grew by 61% YoY to 27.5 million, and increased by 11.2% sequentially.
- Gross Client Acquisition: Angel One added 3 million clients in Q2, a 41% increase from the year-ago quarter, and a 15.9% increase from the previous quarter.
- Demat Market Share: The company’s market share in India’s demat accounts increased by 251 basis points YoY, and by 44 basis points compared to the previous quarter, reaching 15.7%.
Stock Highlights:
- Price Surge: +26.02% in the last 5 trading sessions.
- Current Price: ₹3,311.55.
- 52-Week High: ₹3,896.00.
- Market Cap: ₹29.93K crore.
- P/E Ratio: 22.40.
- Dividend Yield: 1.53%.
The company’s stellar Q2 performance, supported by increasing client acquisitions and a growing market share in demat accounts, has been the key driver behind the stock’s strong upward momentum. Angel One continues to leverage its leadership in the broking sector, providing a favorable outlook for future growth.
Disclaimer: The information provided here is for informational purposes only and does not constitute investment advice or reflect the views of the author or publication. Readers should conduct their own research and seek financial advice before making investment decisions.
