Angel One shares fall over 6% after SEBI chairman remarks on derivatives tenure

Shares of Angel One Ltd. fell as much as 6.6% on Thursday, August 21, after SEBI Chairperson Tuhin Kanta Pandey, spoke about the need to increase the tenure of derivative contracts.There will be a consultation paper that will be issued with regards to increasing the tenure of equity derivatives, the SEBI Chairperson said.

In its monthly update for July, Angel One had highlighted that its F&O market share had increased to 21.2% from 20.8% in June, an increase of 35 basis points on a month-on-month basis, while its equity market share had increased by 47 basis points from June to 20.1% from 19.6%.

In an interaction with CNBC-TV18 on July 18, Dinesh Thakkar, the MD & CEO of Angel One had told CNBC-TV18 that volumes had begun to see some pick-up after the Jane Street saga, and that 45% of Angel One’s overall revenue comes from F&O broking.Thakkar had sounded hopeful that Angel One’s margins would improve to nearly 40% by the March quarter of the current financial year, from 34% in the first quarter.

Shares of Angel One are looking to recover from the lows of the day, currently trading 5% lower at ₹2,583.9. The stock is down 27% from its recent 52-week high.