Angel Broking Soars 20% On Reporting Highest Ever Quarterly Profit

Angel Broking had made a weak debut on October 5, listing at a 10% discount of Rs 275.

Angel Broking shares gained 20 per cent in intra-day trading after the retail broking house reported the highest-ever quarterly profit, at Rs 74.47 crore, in the second quarter ended September 2020. At 1:00 pm, the shares were trading higher by 19.30 per cent at Rs 296.65 on the BSE, after touching an intra-day high of Rs 298.35. But after being listed on bourses on October 5, the stock is still to surpass its issue price of Rs 306 per share.

The retail broking house reported profit of Rs 74.47 crore in the September 2020 quarter, a 47.3 per cent rise compared to Rs 48.3 crore in the June quarter. Its consolidated revenue from operations grew by 30 per cent to Rs 309.85 in Q2FY21.

Angel Broking had made a weak debut on the bourses on October 5. The stock had listed at Rs 275 on the BSE, a 10 per cent discount to the issue price of Rs 306 per share.

The BSE Sensex was trading at Rs 40,302.51, higher by 64.95 points or 0.40 per cent and the NSE Nifty was at 11,833.80, up 66.90 points or 0.55 per cent at the time.

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