Investec has increased its target price for Angel One to Rs 3000 from an earlier valuation, maintaining a buy rating. This adjustment follows SEBI’s announcement of final F&O regulations, which turned out to be marginally more lenient than the initial draft.
In response to these regulatory changes, Angel One has introduced new pricing strategies to reduce their impact. Although predicting clients’ trading behavior remains uncertain, the expected reduction in F&O volumes has been revised to -25% from -30%, owing to the less stringent regulations.
Investec has also raised its FY26E EPS estimate to Rs 149 and adjusted the target multiple to 20x. These changes reflect a more optimistic outlook for Angel One’s future performance, as the company continues to adapt to regulatory environments and market conditions.
