Angel One hits all time high; rises 12% in 9 days

Angel One rose 0.72% to Rs 1712 on BSE extending its winning run to ninth consecutive trading session.

Shares of Angel One have rallied 12.4% in nine trading sessions from its previous closing low of Rs 1522.25 posted on 29 March 2022. The stock hit an all-time high of Rs 1782.15 on BSE. The counter zoomed nearly 506.9% from its 52-week low of Rs 282.10 recorded on 12 April 2021.

The counter saw buying demand after the company last week announced that its client base has surged 123.7% YoY to 9.21 million as against 4.12 million in March 2021.Gross client acquisition stood at 0.48 million in March 2022 compared with 0.45 million in February 2022 (up 6%) and 0.38 million in March 2021 (up 26.4%).

The stock is trading above its 50 and 200 days simple moving average placed at 1424.25 and 1261.87respectively. These levels will act as crucial support zones in near term.

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.

On a consolidated basis, the company's net profit surged 124.89% to Rs 164.55 crore on 92.36% surge in total income to Rs 607.11 crore in Q3FY22 over Q3FY21.

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