Angel One on Thursday, March 6, reported a weak business update for the month of February.The pace of gross client addition slowed down for the second consecutive month in February, declining 26% to 4.9 lakh against the previous month’s 6.6 lakh. In January too, the metric declined by 15%.
Angel One’s unique mutual fund SIPs registered were down 25% as well to 5.77 lakh in February compared to 7.65 lakh in the previous month.
Its client base of 3.05 crore in February was steady as it increased 1.5% from January’s 3.01 crore. In January, it had increased 2% from the previous month.
Its average daily orders were down 9.5% to 49.6 lakh compared to 54.8 lakh in the previous month. In January, the same had declined 3.7%.Angel One’s average daily turnover of 29.58 lakh crore in February, declined 4% from the previous month’s 30.82 lakh crore. Also, it slipped below 30 lakh crore for the second time. In January, it was up 6.3%.
Angel One’s unique mutual fund SIPs registered were down 25% as well to 5.77 lakh in February compared to 7.65 lakh in the previous month.
Its client base of 3.05 crore in February was steady as it increased 1.5% from January’s 3.01 crore. In January, it had increased 2% from the previous month.
Its average daily orders were down 9.5% to 49.6 lakh compared to 54.8 lakh in the previous month. In January, the same had declined 3.7%.Angel One’s average daily turnover of 29.58 lakh crore in February, declined 4% from the previous month’s 30.82 lakh crore. Also, it slipped below 30 lakh crore for the second time. In January, it was up 6.3%.
Its market share was steady in equity at 19.7%. However, its F&O market share was down 23 bps to 21.% in February after improving 15 bps in January.
The commodity market share witnessed a hard knock, down 582 bps to 66.4%, it added.
Angel One ended the previous trade session 4.81% higher at ₹2,111 apiece. The stock was down 0.43% at 9.40 am on Thursday, March 6.
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