Shares of Angel One fell close to 5 percent on December 6 after the company reported a decline in gross client acquisitions during November, the second month in a row.
Its gross client acquisition fell to 60 lakh in November, down from 70 lakh last month. On a month-on-month basis, the gross client acquisition fell 14.6 percent, while it was down nearly 12 percent on a year-on-year basis.
At 09.46 am, shares of Angel One were trading at Rs 3,106.95 on the NSE.
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Apart from that, total platform orders also fell 23.5 percent month-on-month to 13.09 crore. Average daily orders also dipped 6.5 percent on-month to 72.8 lakh from October’s 77.8 lakh, but rose 35.7 percent on a yearly basis, the company stated in its exchange filing.
It's worth noting that November had only 18 trading days compared to 22 in October and 20 in November last year which would've also influenced Angel One's performance during the month.
The Overall Average Daily Turnover (ADTO) declined by 12 percent month-on-month, with the Futures & Options segment witnessing a 12.5 percent drop.
Angel One's overall client base reached 2.8 crore by November-end, up 2 percent month-on-month and 56 percent year-on-year.
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