Angel One becomes India's second-largest broker by active clients

Financial Services firm Angel One has become the country's second-largest stockbroker in terms of active clients, with 69.98 lakh investors on the National Stock Exchange at the end of October, according to the exchange's latest data.

With an active client base of 69.98 lakh, the brokerage now accounts for 14.97% of 4.67 crore active clients across all brokers on the exchange.

The firm added 2.43 lakh net active clients on NSE in October alone.

Its overall client base reached 4.06 crore at the end of October, up 17.4% year-on-year. The company crossed the 4-crore mark during the month after adding nearly 15 lakh clients in the July-September quarter.

Trading activity also picked up in October, with average daily orders rising 19.6% month-on-month to 69.7 lakh. Gross client additions stood at 6.6 lakh, the highest in nine months.

In terms of the number one position, Groww retained its spot with 1.37 crore active clients for the month of October. It also added the highest number of clients at 3.04 lakh during the month and also Groww’s market share was 29.43%.

Bengaluru headquartered Zerodha slipped to third position with overall 67.59 lakh active clients for the month of October which was down by 32,435 from 67.91 lakh in September. This resulted in Zerodha’s market share slipping to 14.46%.

The growth in client numbers of Angel One came alongside an improvement in financial performance.

Angel One's consolidated revenue from operations rose 18.7% year-on-year to Rs 1,427 crore, and net profit grew 58.2% to Rs 335 crore.

Its wealth management assets under management stood at Rs 16,000 crore at the end of the quarter, up 19.1 per cent sequentially.