Angel One Ltd Share Price – NSE /  BSE

Stock/ Commodity Brokers, Small Cap

Angel One said that this approval marks its entry into the asset management space, focusing exclusively on passive investment solutions.

Angel One Mutual Fund’s passive investment products (i.e., index funds and ETFs) will be designed to offer clients a low-cost, transparent, and accessible pathway to wealth creation.

The brokerage firm said, “As passive investing continues to gain traction, Angel One Mutual Fund’s commitment to this approach addresses the rising demand from clients seeking simplicity and cost-efficiency in their portfolios.”

Dinesh Thakkar, chairman and managing director, Angel One, said, We are thrilled to receive SEBI’s approval for commencing our mutual fund business, signifying a pivotal moment in our journey. This license enables us to augment our offerings and better serve our clients. With a robust technological infrastructure and a deep understanding of client needs, we are poised to transform the passive investing space in India.

Our focus on passive investing through ETF & Index Fund products reflects our commitment to making financial products more accessible, affordable, and transparent for all. We believe this will empower a new generation of investors and enable them to participate in India’s growth story. We are excited about the opportunities ahead and look forward to helping our clients achieve their financial goals.”

Hemen Bhatia, executive director and CEO, Angel One AMC, commented, “The mutual fund license signifies an exciting new chapter for the Group. As the asset management industry in India experiences rapid growth in passive investing, ETFs & index funds are increasingly being embraced by both retail and institutional investors. With deep domain expertise in passive products, Angel One AMC is poised to make long-term investing more accessible to every Indian.

Through our ETFs and index funds, we aim to offer user-friendly, easy to understand wealth creating products to a growing base of retail investors across the country. I am confident that Angel One AMC will play a pivotal role in achieving the Group’s north star—empowering a billion lives.

Angel One is the largest listed retail stock broking house in India, in terms of active clients on NSE. The company provides broking and advisory services, margin funding, loans against shares and distribution of third-party financial products to its clients. The broking and allied services are offered through online and digital platforms and network of authorized persons.

The brokerage firm reported a 39.05% increase in consolidated net profit to Rs 423.38 crore on a 44.55% jump in revenue from operations to Rs 1,514.70 crore in Q2 FY25 over Q2 FY24.

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Angel One announced that Prabhakar Tiwari, Chief Growth Officer and Senior Management Personnel of the Company has tendered his resignation today i.e. 25 November 2024.

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The key equity indices reversed all early losses and traded with minor gains in afternoon trade. The Nifty scaled above the 24,000 level. Financial services, bank and private bank shares advanced while consumer durables, media and pharma shares declined.

At 13:30 IST, the barometer index, the S&P BSE, Sensex added 242.95 points or 0.33% to 79,052.09. The Nifty 50 index rose 51.65 points or 0.22% to 24,047.

In the broader market, the S&P BSE Mid-Cap index fell 0.28% and the S&P BSE Small-Cap index rose 0.07%.

The market breadth was positive. On the BSE, 2,045 shares rose and 1,809 shares fell. A total of 129 shares were unchanged.

Gainers & Losers:

JSW Steel (up 3.20%), Tata Steel (up 2.55%), Hindalco Industries (up 1.98%), Bajaj Auto (up 1.86%) and IndusInd Bank (up 1.77%) were major Nifty gainers.

Trent (down 3.53%), Adani Ports and Special Economic Zone (down 3.37%), HDFC Life Insurance Company (down 2.12%), Shriram Finance (down 2.12%) and Mahindra and Mahindra (down 1.50%) were major Nifty losers.

Stocks in Spotlight:

Angel One fell 1.35%. The company said that its client base jumped 57.8% to 28.06 million in October 2024 as compared with 17.78 million in October 2023.

Larsen & Toubro shed 0.49%. The company said that it has entered into an investment agreement for acquiring upto 41,71,410 equity shares, equivalent to 21% stake, of E2E Networks.

Procter & Gamble Health shed 0.12%. The company’s net profit jumped 25.56% to Rs 82.33 crore on 2.78% rise in revenue from operations to Rs 313.41 crore in Q2 FY25 over Q2 FY24.

Tilaknagar Industries soared 19.40% after the firm’s consolidated net profit surged 57.21% to Rs 58.23 crore on 9.75% rise in revenue from operations to Rs 823.32 crore in Q2 FY25 over Q2 FY24.

Gland Pharma surged 11.83% after the company’s net profit increased 9.39% to Rs 281.71 crore on 5.18% rise in revenue from operations to Rs 1,062.99 crore in Q2 FY25 over Q1 FY25.

Bata India fell 0.33%. The company’s consolidated net profit jumped 52.89% to Rs 51.97 crore in Q2 FY25 as against Rs 33.99 crore posted in Q2 FY24. Revenue from operations rose 2.19% year on year (YoY) to Rs 837.14 crore in the quarter ended 30 September 2024.

Indian Railway Catering and Tourism Corporation’s (IRCTC) rose 0.70%. The company’s consolidated net profit rose 4.47% to Rs 307.87 crore in Q2 FY25 as compared with Rs 294.68 crore posted in Q2 FY24. Revenue from operations grew by 7.21% to Rs 1,064 crore in Q2 FY25 as compared with Rs 992.40 crore reported in Q2 FY24.

Global Markets:

European shares declined while Asian shares advanced on Tuesday as investors prepared for the U.S. presidential election and a possible interest rate cut from the Federal Reserve later this week.

Chinese markets were buoyed by strong business activity data. Investors are also closely monitoring the meeting of China's National People's Congress this week, anticipating further clues on fiscal spending.

Regional markets took a neutral stance following a negative session on Wall Street. The S&P 500 declined 0.28%, the NASDAQ Composite fell 0.33% and the Dow Jones Industrial Average dropped 0.61%.

The US Federal Reserve's meeting is scheduled for this week, with a 25 basis point rate cut widely expected, following a 50 basis point cut in September.

Third-quarter earnings have delivered mixed results, with a slew of middling big-tech earnings reported last week. Berkshire Hathaway Inc. fell 2% after missing operating earnings estimates. In contrast, data software firm Palantir Technologies Inc. rallied nearly 13% in after-market trading as its earnings surpassed expectations.

Dollar Tree Inc. rose 6.3% after announcing that CEO Rick Dreiling would resign, and Chief Operating Officer Michael Creedon Jr. would take over on an interim basis.

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The domestic equity benchmarks traded near the flatline with tiny gains. The Nifty traded slightly above the 24,000 level. Realty shares extended losses for the second consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex rose 19.27 points or 0.03% to 78,845.38. The Nifty 50 index added 5.10 points or 0.02% to 24,000.45.

In the broader market, the S&P BSE Mid-Cap index fell 0.21% and the S&P BSE Small-Cap index rose 0.21%.

The market breadth was strong. On the BSE, 2,234 shares rose and 1,354 shares fell. A total of 158 shares were unchanged.

Result Today:

Dr Reddy's Laboratories (down 0.67%), Titan Company (up 0.51%), GAIL India (down 0.66%), PB Fintech (down 2.78%), Oil India (up 1.76%), Berger Paints (down 1.33%), eClerx Services (up 0.25%), Manappuram Finance (up 1.77%), Mankind Pharma (down 2.82%), Mazagon Dock Shipbuilders (down 0.25), Aptus Value Housing Finance (down 2.64), CCL Products (up 0.54), Fortis Malar Hospitals (down 0.18), JK Tyre (up 0.33), Max Healthcare Institute (down 1.63), Raymond Lifestyle (down 0.95), SJVN (down 0.90%), Sundram Fasteners (up 2.62), Timken India (down 2.96%), will release September quarter earnings later today.

Buzzing Index:

The Nifty Realty index slipped 0.59% to 973.75. The index fell 3.50% in two consecutive trading sessions.

Macrotech Developers (down 1.99%), DLF (down 1.19%), Godrej Properties (down 1.13%) and Sobha (down 0.08%) declined.

On the other hand, Raymond (up 2.07%), Brigade Enterprises (up 1.96%) and Oberoi Realty (up 0.83%) edged higher.

Stocks in Spotlight:

Angel One slipped 1.22%. The brokerage firm said that its client base jumped 57.8% to 28.06 million in October 2024 as compared with 17.78 million in October 2023.

KEC International shed 0.64%. The company has reported 53% jump in consolidated net profit to Rs 85 crore on a 14% increase in revenues to Rs 5,113 crore in Q2 FY25 as compared with Q2 FY24.

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