Capital market stocks rally on strong Q3 results, growth optimism

Shares of capital market-linked firms jumped on strong Q3 results and optimism around long-term growth driven by financialisation and rising retail participation

Shares of capital market-linked companies rallied on Friday buoyed by upbeat quarterly results announced and optimism around their long-term growth prospects.

 

HDFC Asset Management Company, ICICI Prudential Asset Management Company, Angel One, Groww-parent Billionbrains Garage Ventures, and 360 One WAM clocked gains of 2 per cent and 9 per cent.

 

Shares of Billionbrains Garage Ventures climbed 5.7 per cent. While the company’s net profit declined 28 per cent year-on-year (Y-o-Y) to ₹547 crore, revenue rose a strong 25 per cent to ₹1,216 crore, reassuring investors on growth momentum.

 

Angel One surged 9 per cent to close at ₹2,756. Although the company reported a 4.5 per cent Y-o-Y decline in profit and a modest 5.8 per cent rise in revenue, its sequential performance stood out. Revenues grew 11 per cent quarter-on-quarter, while net profit jumped 27 per cent over the previous quarter. 

Brokerage firm Citi, which initiated coverage on both Angel One and Groww, assigned a ‘buy’ rating, citing a structural shift in the retail broking space.

 

In a note, Citi said large-scale retail platforms are evolving from pure-play brokerage-led market proxies into one-stop financial services platforms offering a wider range of products. For Angel One, Citi highlighted the firm’s aggressive customer acquisition strategy and operational agility, while for Groww, it pointed to niche-market leadership and a lean business model as key positives.

 

Meanwhile, shares of HDFC Asset Management Company rose 1.6 per cent and ICICI Prudential Asset Management Company gained 7.2 per cent on Friday.

 

HDFC AMC on Wednesday reported a 20 per cent Y-o-Y increase in net profit to ₹641 crore for the quarter ended December 2025, driven by higher assets under management and sustained growth in equity-oriented funds. ICICI Prudential AMC, which announced its results after market hours on Wednesday, posted a 45 per cent Y-o-Y jump in profit after tax to ₹917 crore for the same period.

 

“Capital markets as a theme represent a structural growth story, supported by deeper financialisation of assets and the record number of new listings seen in the post-pandemic period,” said G Chokklingam, founder of Equinomics.