Brokerage Angel One Ltd dropped 5% in morning trade on Tuesday after the company reported more than 7% drop in total number of orders on a monthly basis in October.

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The total number of orders dropped 7.8% month-on-month to ₹10.59 crore from ₹11.49 crore in September. On a year-on-year basis, the number of orders surged by 52.5% compared to ₹6.94 crore in October 2022.

The brokerage reported a 4.2% growth in client base at 1.77 crore in October 2023 over the previous month.

On a yearly basis, the client base jumped 49.6% compared to 1.18 crore in October 2022, according to monthly business update by the trading and stock broking services provider.

Angel One shares tanked up to 5% to touch a low ₹2494.35 apiece on BSE in early trade following the monthly business update by the domestic brokerage.

Gross client acquisition however witnessed a 5.7% decline on quarterly basis to 7.3 lakh in October from 7.7 lakh in September but reported a sharp 113.1% expansion compared to 3.4 lakh in the same month of last year.

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Its Average Client Funding Book rose by 16.3% to ₹1884 crore in October over ₹1620 crore in the previous month, but saw a higher 19.6% increase compared to ₹1575 crore in the year-ago month.

Average Daily Orders also declined by 7.8% month-on-month to 53 lakh in October from 57.5 lakh in September.

Angel One’s overall average daily turnover dropped by 2.9% to ₹ 31,537 billion in October from ₹32,493 billion in September while a sharp 127.1% expansion compared to ₹ 13,887 billion in October 2022.

Average daily turnover in the F&O segment declined 2.9% month-on-month to ₹31,082 billion in October from ₹ 32,023 billion in September. The F&O segment saw a 129.0% year-on-year growth against ₹13,571 billion in October 2022.

Angel One saw a 13 basis point drop in its retail turnover market share to 26.5% in October from 26.7% in the previous month. However, the brokerage saw a growth in market share in cash and commodity segments.

Angel One shares were trading 4.41% lower at ₹ 2507.20 apiece on BSE at 9.39 AM.

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(Edited by : Asmita Pant)

First Published:Nov 7, 2023 10:26 AM IST