Angel One extends fall despite strong April update; stk drops 32% in 4 days

On April 29, 2022, the promoter, Rahul Thakkar sold 41,200 equity shares of Angel One via open market sale.

Shares of Angel One slipped 15 per cent to Rs 1,336 on the BSE in Friday’s intra-day trade. The stock plummeted 21 per cent in the past two trading days after the company updated its key business parameters for the month of April 2022.

In the past four trading days, the stock plunged 32 per cent after Angel One said its promoter Rahul Thakkar sold 41,200 equity shares of the company via open market sale on April 29, 2022, the day on which the stock hit a record high of Rs 2,022. Post transaction, Rahul Thakkar holding in the company decreased to 2.6 per cent from 2.65 per cent. CLICK HERE

“I wish to inform that I am presently holding 2,200,000 shares of Angel One Limited representing 2.65 per cent of voting capital of the Company. I have sold 41,200 shares of Angel One Limited on April 29, 2022 in open market. Accordingly my shareholding is reduced to 2,158,800 shares representing 2.60 per cent of voting capital of the Company,” Rahul Thakkar said in exchange filing.

At 01:05 pm; the stock traded 11 per cent lower at Rs 1,411 on the BSE as compared to 1.8 per cent decline in the S&P BSE Sensex.

Meanwhile, Angel One's client base rose by 4.6 per cent to 9.64 million in the month of April from 9.21 million clients in March 2022. That apart, gross client acquisition stood at 0.44 million in April 2022 compared with 0.48 million in March 2022 (down 7.3 per cent) and 0.31 million in April 2021 (up 41.5 per cent).

Angel's overall average daily turnover (ADTO) was Rs 9.48 trillion in April 2022 (up 7.2 per cent month on month and up 114.4 per cent year on year). The company's ADTO from the Future & Options (F&O) segment stood at Rs 9.24 trillion, accounting for 116.5 per cent of the overall ADTO during the month.

Besides that, the company's retail turnover market share in overall equity segment was 21.3 per cent in April 2022 as against 21.1 per cent in March 2022 and 22.8 per cent in March 2021. While F&O market share stood at 21.4 per cent (up 23 bps month on month and down 158 bps year on year), cash market share was 14 per cent (down 9 bps month on month and down 26 bps year on year) in April 2022. 

 
Angel One is the largest listed retail stock broking house in India, in terms of active clients on NSE. Angel One is a technology-led financial services company providing broking and advisory services, margin funding, loans against shares and distribution of third-party financial products to its clients.