Angel One shares slip over 4% as average daily order fall in Sept quarter

Angel One's average daily orders (ADO) slipped 0.8 per cent to 7.64 million in the quarter ended September 30, 2024. It was also down 2.8 per cent from ADO of August 2024

Angel One shares slipped 4.3 per cent and registered an intraday low of Rs 2,620 per share on the BSE. The scrip declined after the discount broking firm's business update showed a dip in average daily orders (ADO) on a month-on-month (M-o-M) and quarter-on-quarter (Q-o-Q) basis.

At around 10:05 AM, Angel One share price was down 2 per cent at Rs 2,684.8 per share on the BSE. In comparison, the BSE Sensex traded 0.05 per cent higher at 82,534.31 around the same time.

On Friday, Angel One released its business update which showed its average daily orders (ADO) slipped 0.8 per cent to 7.64 million in the quarter ended September 30, 2024, from 7.7 million in the June quarter. However, on a year-on-year (Y-o-Y) basis, the ADO increased 42.3 per cent (Q2FY24 to Q2FY25).

Similarly, Angel One's ADO declined 2.8 per cent M-o-M to 7.46 million in September 2024, from 7.68 million in August 2024. However, ADO grew 29.9 per cent year-on-year (Y-o-Y) (September 2023 to September 2024).

Likewise, its number of orders also dipped 2.8 per cent to 156.68 million in September 2024 as against 161.18 million in August 2024. On a Y-o-Y basis (September 2023 to September 2024), the number of orders increased by 36.3 per cent.  

Angel One's average daily turnover (ADTO) based on option premium for the F&O segment declined 2.9 per cent M-o-M to Rs 14,700 crore last month from Rs 15,100 crore in August 2024. Its cash daily turnover also declined 4.9 per cent in September 2024 to Rs 9,100 crore from Rs 9,600 crore in August 2024.

However, its overall ADTO based on option premium, including cash segment, notional turnover for equity futures & options, and commodity segments, grew 5.8 per cent on a monthly basis and 56.4 per cent Y-o-Y (September 2023 to September 2024).

On the flip side, Angel One's client base grew 61 per cent Y-o-Y and 11.2 per cent Q-o-Q to 27.49 million in the quarter ended September 30, 2024, against 17.07 million a year ago.

In the past one year, shares of Angel One have gained 47.3 per cent as against BSE Sensex's rise of 26.4 per cent.