Angel One becomes India's second-largest broker by active clients
The active client base of Angel One for October was 69.98 lakh which was an addition of 2.43 lakh for the month. Zerodha now is in the third spot.
Angel One, a prominent financial services company based in India, has emerged as the nation's second-largest stockbroker by active clients, boasting a substantial client base of 69.98 lakh investors on the National Stock Exchange as of October's end. This milestone places the brokerage at 14.97% of the 4.67 crore active clients across all brokers on the exchange. In October, Angel One added 2.43 lakh net active clients, bringing its overall client base to 4.06 crore, a 17.4% increase year-on-year.
The firm surpassed the 4-crore mark during the July-September quarter by adding nearly 15 lakh clients. October also witnessed a surge in trading activity, with average daily orders rising by 19.6% month-on-month to 69.7 lakh. Gross client additions stood at a record high of 6.6 lakh during the month. Benguru-based Groww maintained its top position with 1.37 crore active clients, adding the most clients at 3.04 lakh, and accounting for 29.43% of the market share.
Zerodha, another leading brokerage, dropped to the third position with 67.59 lakh active clients for October, a 32,435 decrease from September's 67.91 lakh. This decline resulted in Zerodha's market share shrinking to 14.46%. Despite the setback, Angel One's financial performance improved alongside its client growth. The company's consolidated revenue from operations rose 18.7% year-on-year to Rs 1,427 crore, and net profit increased by 58.2% to Rs 335 crore.
Angel One's wealth management assets under management amounted to Rs 16,000 crore at the quarter's end, reflecting a 19.1% sequential growth.
Written by urgent.news from YourStory's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
