Angel Broking gains after robust business update in July

Angel Broking gained 2.12% to Rs 1,349.30 after the broking firm issued strong business update for July 2021.

The company's client base jumped 145.6% year on year to 5.71 million clients in July 2021 over July 2020. On a sequential basis, client base grew by 8% last month from 5.29 million clients in June 2021.

Gross client acquisition stood at 0.43 million in July 2021, up by 151% over 0.17 million in June 2020. On a sequential basis, gross client acquisition fell by 6.1% in July 2021 over June 2021.

Number of trades in July 2021 stood at 91.08 million, up 63% over 55.8 million trades in July 2020. The figure was up 2.4% over June 2021.

The company's retail turnover market share in overall equity segment grew to 21.7% in July 2021 from 11% in July 2020. Retail turnover market share in June 2021 stood at 21.9%. Retail turnover market share in F&O (derivatives) segment rose to 21.8% in July 2021 from 10.7% in July 2020.

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.

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