Strong show led by surge in orders

Company
19 Apr 2024
5 Min read 
  • Angel One's 4QFY24 results show a strong performance with a surge in orders.
  •  Gross broking business grew by 59% YoY, driven by the F&O segment and cash segment.
  •  Net brokerage income grew by 65% YoY to INR6.8b in 4QFY24.
  •  Total operating expenses increased by 114% YoY and 26% QoQ.
  •  The company raised INR15b via QIP and has a strong financial position.
  •  The company has a strong client base and is focused on client engagement and expanding its product offerings.
  •  The company's valuation is favorable with a revised target price of INR4,200.
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