Angel One Shares Zoom 14.41% On BSE After Q2 Results, Analysts Upbeat; Recommend Buy

Mid cap company operating in financial services sector, Angel One shares today soared nearly 14% on BSE after the firm reported stellar Q2 financial results a day before. The broking firm declared its revenue from operations for September 2024 at Rs 1514.7 crore, up 44.5% as compared to Rs 1048 crore declared in the corresponding quarter of last year. The company's consolidated net profit for September 2024 came at Rs 423 crore, up 39% from Rs 304 crore announced in the similar quarter of last year. The company's market capitalisation stood at Rs 28,072.12 crore. Angel One shares witnessed sharp rally of 19.94% in last 1-week only. Current market price of Angel One shares on BSE today is Rs 3092.20 per share. The ROE of Angel One is 25.55 and PE is 18.26. Check key details below:

Angel One Q2 Results: Dinesh Thakkar, CMD at Angel One said this was the 'best-ever' performance across financial and operational metrics. "With a 19.3% share in overall retail equity turnover, we continue to report an improvement in market share across all segments," Thakkar added.

Angel One Shares Performance & Return: The 52-week high price of Angel One shares on BSE stood at Rs 3900.35 per share (as on 09/01/2024) and 52-week low price is Rs 2027.25 per share (as on 23/07/2024). Angel One shares soared 20% in last 2-weeks, gained 37% in 3-months, fell over 13% in 2024, and gave return of 50% in last 1-year.

Buy Recommended For Angel One Shares: Out of a total of 7 analysts tracking the stock, 4 recommended strong buy call, 1 assigned buy call, 2 suggested strong sell, and sell call. Meanwhile, Motilal Oswal recommended buy call to Angel One shares with target price of Rs 3300 per share. On the other hand, Investec suggested buy call with target price of Rs 3000.

According to A R Ramachandran, Independent SEBI Research Analyst, "Angel One stock price is bullish but also overbought on the Daily charts with next resistance at 3364. Investors are advised to keep booking profits as a Daily close below support of 2980 could lead to target of 2745 in the near term."

About Angel One: 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 and distribution of third-party financial products to its clients. The broking and allied services are offered through online and digital platforms to clients acquired directly and through assisted business.

Disclaimer:

The stock has been picked from the brokerage report of Motilal Oswal and A R Ramachandran. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.