Angel One Surges After Profit Jumps 27%
Angel One's stock rose as much as 8.69% during the day on the NSE, before cooling off to 3.49%.
Shares of Angel One Ltd. jumped over 8% Thursday after the stock-broking firm's net profit grew 27% year-on-year to Rs 340 crore in the fourth quarter of financial year 2024. It had posted a profit of Rs 267 crore in the corresponding period of the fiscal 2023, according to an exchange filing on Wednesday.
Angel One Q4 FY24 Earnings Highlights (Consolidated, YoY)
Revenue up 64% at Rs 1,357 crore.
Net profit up 27% at Rs 340 crore.
On the NSE, Angel One's stock rose as much as 8.69% during the day to Rs 3,100 apiece, the highest since April 4. It was trading 3.49% higher at Rs 2,951 per share, compared to a 0.38% advance in the benchmark Nifty 50 as of 09:38 a.m.
The share price has risen 127.50% in the last 12 months and fallen 15.56% on a year-to-date basis. The total traded volume so far in the day stood at 11 times its 30-day average. The relative strength index was at 53.81.
Six out of the nine analysts tracking the company have a 'buy' rating on the stock, one recommends 'hold and two suggest 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 23.7%.