The share price of the mid-cap stock rose 5.1 percent to its intraday high of Rs 3,195 per share from its previous close of Rs 3,038.4 after the company announced Mr.Hemen Bhatia joined as a CEO.
Angel One Ltd, India’s leading Fintech company, has announced Hemen Bhatia has joined as Chief Executive Officer (CEO) at Angel One Asset Management Company Limited, according to a filing.
With 17 years of experience, Mr. Hemen Bhatia has focused his career on Indian passive investments, including index funds, CPSE ETF at Goldman Sachs AMC, and exchange-traded funds (ETFs) at Nippon Life India AMC.
His responsibilities include driving growth, leading strategic initiatives, and positioning Angel One as a market leader in the Indian passive investment space. This move demonstrates Angel One’s commitment to impactful financial solutions and marks an important step in the company’s evolution as a fintech leader in India.
Looking at their financials the net revenue of the company increased by 40 percent year over year, from Rs 745.3 crore in Q2FY23 to Rs 1047.9 crore in Q2FY24. In addition, the company’s net profit rose by 42 percent year over year, from Rs 213.5 crores in Q2FY23 to Rs 304.5 crores in Q2FY24.
The company has a low price-to-earnings ratio of 25 compared to its peers also has a low debt-to-equity ratio of 0.37 a return on equity of 48 percent and a return on capital employed of 44 percent.
Angel One Ltd is a mid-cap company with a market capitalization of Rs 26,248 crores. The share price has risen 103 percent and 138 percent year to date. For instance, if an investor invested Rs 1Lakhs year to date the current value would be 2.38 lakhs.
The promoter owns 38 percent of the company, the general public owns 34.5 percent, foreign institutional investors own 17 percent, and domestic institutional investors own 10.5 percent.
Angel One Ltd is a diversified financial services company that primarily engages in stock, commodity, and currency broking, institutional broking, margin trading, depository services, and mutual fund distribution, lending as an NBFC, and acting as corporate agents for insurance companies.
Written by Sriram KV
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