Angel One - Leaner, Stronger, Faster - A Transformed Broker: Motilal Oswal Initiates Coverage
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Motilal Oswal Report
Angel One (Angel Broking Ltd.) has emerged to be India’s third-largest broker with 6.5 million total clients and 2.5 million active clients on the NSE. It has a market share of 9.3% in active clients on the NSE, which has increased from 4.8% in Q1 FY20.
Indian brokerage industry is at an inflection point wherein only 5.1% of the Indian population have a demat account versus 13.7% in China and 32% in the U.S. This is in spite of-
number of demat accounts in India surging from 36 million at the end of FY19 to 67 million in Auguest 2021,
active user accounts on NSE has jumped from 8.8 million to 25.5 million during the same period, and
retail average daily turnover skyrocketing from Rs 6 trillion in April 2019 to Rs 27 trillion in September 2021.
Angel One, with its transformational journey from being a traditional broker to adopting a completely digital model, offering a seamless online trading platform through its mobile app, website and call centre support is well placed to leverage on this growth opportunity and further strengthen its position
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