Angel One client acquisitions drop month-on-month for second straight month – CNBC TV18
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In an exchange filing on Friday, December 6, Angel One said that its gross client acquisition fell to 0.6 million from 0.7 million last month. On a month-on-month basis, the gross client acquisition fell 14.6%, while the figure was lower by 11.9% on a year-on-year basis.
The number of orders on the platform also fell by 23.5% on a month-on-month basis to 130.96 million. However, on a year-on-year basis, the figure increased by 22.2%.
Average daily orders on the platform fell by 6.5% to 7.28 million from 7.78 million in October. Average daily orders on a year-on-year basis increased by 35.7%, Angel One said in its exchange filing.
It must be kept in mind that November had a total of 18 trading days, compared to 22 in October and 20 in November last year.
Overall Average Daily Turnover (ADTO) fell 12% on an overall basis when compared to November, while for the Futures & Options segment, the ADTO was down by 12.5% from last month. The ADTO for both these metrics increased by 24.1% and 23.3% year-on-year respectively.
Unique Mutual Fund SIP registrations in November declined by 11.7% from last month to 6.5 lakh. When compared to November last year, the registrations more than doubled, increasing by 131%.
Overall client base now stands at 28.78 million for Angel One at the end of November, a growth of 2% from October and 56% from November last year.
Shares of Angel One had ended 6.2% higher on Thursday at ₹3,220. The stock has been an underperformer in 2024 when compared to its other capital market-linked peers. The stock is down 10% so far in 2024, while shares of BSE and CDSL have doubled, while those of Motilal Oswal have surged over 200% in 2024 so far.
