After encouraging information about business, Angel One’s stock rose by 6.3 per cent to Rs 2,497 on Wednesday. Despite the selling in the broad market, the brokerage firm recorded an increase in its client base (increased to 3 crore) and an increase in order volume. The futures and options recorded a 6 per cent increase in the company’s daily average business on a monthly basis.
However, the average trading in the cash market declined by 13 per cent. Angel One’s market share in the cash market remains strong at 16.6 per cent. Earlier, the company’s stock had broken more than 40 per cent from its high level due to regulatory strictness.
An IPO of Rs 1,269 crore of construction equipment manufacturer Azex Engineering will open on Monday. The price of IPO has been fixed at Rs 599 to Rs 629 per share. At the upper level of the price scope, the company’s evaluation is around Rs 7,200 crore.
This IPO is a full -fledged share sales from the promoters and private equity veteran Kedara Capital. The company is the manufacturer of the country’s largest self-loading concrete mixers. The net profit of which was Rs 225 crore in 2023-24.