Angel One shares gain over 3% after Q2 business update shows strong year-on-year growth

Angel One Ltd.'s shares gained up to 3% after the broking firm reported its business update for the month of September on Monday, October 6.

The company's client base increased by 1.5% on a month-on-month basis to 34.08 million from 33.57 million in August. On a year-on-year basis, the metric grew by 24%.

Gross client acquisition in September remained flat, registering a marginal 0.6% growth to 0.55 million. On a year-on-year basis, this metric declined by over 42%.

The number of orders placed increased by 16.1% in September, in comparison to August to 127.57 million. On the flip side, the year-on-year growth was a negative 18.6%.

Average daily orders remained flat for Angel One during the month of September at 5.8 million from 5.78 million in August. This metric too, was down 22.3% from the year-ago quarter.

Average Daily Turnover (ADTO), based on notional turnover, increased by 5.1% month-on-month, while the ADTO in the F&O space grew by 4.9% month-on-month. Overall ADTO grew 0.5% from last year, while F&O ADTO declined 1%.

Retail turnover market share for Angel One declined by 9 basis points on an overall basis from last month, while F&O market share declined by 27 basis points. Both metrics grew by over 100 basis points year-on-year.

Cash turnover market share increased by 33 basis points month-on-month, while commodity turnover market share declined by 331 basis points from August.

For the September quarter, Angel One's client base increased by 4.9% sequentially, while gross client acquisition increased by 12.2% from the previous quarter. Number of orders grew 5%, while average daily orders remained flat.

Retail turnover market share for the overall equity and F&O segment increased by 71 basis points and 72 basis points respectively, while commodity turnover market share increased by 815 basis points from the June quarter.

Shares of Angel One are trading 2.4% higher on Monday at ₹2,254.2. The stock is down 3.6% in the last one month.