Angel Broking in demand after strong biz update

Angel Broking added 3.16% to Rs 907.70 after the stock broking firm reported strong business update for the month of June 2021.

The company's client base jumped 145.4% year on year to 5.29 million clients in June 2021 over June 2020. On a sequential basis, client base grew by 9.3% last month from 4.84 million clients in May 2021.

Gross client acquisition stood at 0.46 million in June 2021, up 221% over 0.14 million in June 2020. On a sequential basis, gross client acquisition grew 8.2% in June 2021 over May 2021.

Number of trades in June 2021 stood at 88.97 million, up 71.1% over 52 million trades in June 2020. The figure was up 2.9% over May 2021.

The company's retail turnover market share in overall equity segment grew to 21.9% in June 2021 from 9.5% in June 2020. Retail turnover market share in May 2021 stood at 23.5%.

Retail turnover market share in F&O (derivatives) segment rose to 22.1% in June 2021 from 9.2% in June 2020. However, the market share declined from 23.8% posted in May 2021.

Shares of Angel Broking have added 13.33% in six trading sessions.

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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