Angel Broking shares hit upper circuit after strong performance in May

Angel Broking hit an upper circuit of 5% at Rs 834 after the stock brokerage reported strong business in May 2021.

The company’s client base jumped 140.4% year on year to 4.84 million clients in May 2021 over May 2020. On a sequential basis, client base grew by 9.5% last month from 4.42 million clients in April 2021.

Gross Client Acquisition stood at 0.43 million in May 2021, up 298.2% over 0.11 million in May 2020. On a sequential basis, Gross Client Acquisition grew 36.1% in May 2021 over April 2021.

The number of trades in May 2021 stood at 86.49 million, up 117.9% over 39.70 million trades in May 2020. The figure was up 18.4% over April 2021. The company’s average daily turnover (ADTO) overall soared 778% year on year to Rs 4,75,200 crore in May 2021. ADTO rose 7.5% in May 2021 over April 2021.

The company’s retail turnover market share in overall equity segment grew to 23.5% in May 2021 from 22.8% in April 2021 and 7.6% in May 2020. Retail turnover market share in F&O (derivatives) segment rose to 23.8% in May 2021 from 23% in April 2021 and 7% in May 2020.

Shares of Angel Broking extended their winning run to third trading session. The counter has rallied 11.68% in three days from its previous closing low of Rs 746.80 on 1 June 2021. The stock hit a record high of Rs 834 in morning today.

In last one month, Angel Broking has rallied 95.5% compared with 8.4% rise in Nifty 50 index.

Angel Broking is one of the largest retail broking houses in India in terms of active clients on NSE. Its a technology-led financial services company providing broking and advisory services, margin funding, loans against shares and financial products distribution to clients.

The company’s consolidated net profit surged 229.9% to Rs 101.91 crore in Q4 FY21 from Rs 30.89 crore in Q4 FY20. Total income during the quarter increased 109.8% to Rs 418.86 crore from Rs 199.63 crore reported in the same period last year.

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