Shares of this small-cap broking stock are trading in the red today and dipped more than 6 percent after an alleged failure to monitor the operations of its Authorised Persons (APs).
With a market capitalization of Rs 13,448 crores, the stocks of Angel One Limited are trading at Rs 1,605, a dip of around 6 percent compared to the previous closing levels of Rs 1,708.30 apiece.
The company’s stock observed a deep fall today after the company, through a BSE filing, informed that the National Stock Exchange of India (NSE) passed an order against the company with regard to a failure in monitoring the operations of its Authorised Persons (APs).
The NSE gave directions to the company, some of which include a monetary penalty of approximately 1.66 crores and prohibition from onboarding new APs for a period of six months from the date of order.
Having a look at the financials reported by the company, the basic operational indicators such as the revenues as well as net profits have shown consistent growth in the past few years.
The revenues, during the recent period, increased from Rs 2,258 crores during FY21-22 to Rs 3,001 crores in FY22-23, and, the net profit numbers have shown an upward movement from Rs 625 crores to Rs 890 crores.
As per the March 2023 quarter, the shareholding pattern portrays the Promoters holding a 38.3 percent stake, and Foreign Institutional Investors (FIIs) holding a 17.04 percent stake in the company.
Angel One Limited is a retail broking house in India that provides broking and advisory services, loans against shares, margin funding, and financial product distribution to clients under its brand name. The company broadly operates in three segments that comprise Finance, Broking, and other related activities.
Written by Amit Madnani
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