Motilal Oswal has given Buy recommendation for Angel One with a target price of Rs. 1900 in its research report issued on Feb 07, 2022
Motilal Oswal’s research report on Angel One
Angel has been at theforefront in terms of client acquisitions with 12.2% of incremental NSEactive clients recorded over the past six quarters. Its share in theincremental demat accounts has averaged 15% for the past sevenquarters Angelhas witnessed a relatively stable trend since April ‘20 in customeracquisition compared with Upstox and Groww that experienced majorvolatility in acquisition trends.
We find the stock valuations attractive at FY24E P/E of 13.0x. We maintain our BUY rating with a one-year target price of INR1,900, implying 42% potential upside from current level.
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At 13:36 hrs Angel One was quoting at Rs 1,365.75, up Rs 29.15, or 2.18 percent.
It has touched an intraday high of Rs 1,385.15 and an intraday low of Rs 1,329.00.
It was trading with volumes of 42,995 shares, compared to its thirty day average of 59,800 shares, a decrease of -28.10 percent.
In the previous trading session, the share closed down 0.86 percent or Rs 11.60 at Rs 1,336.60.
The share touched its 52-week high Rs 1,689.30 and 52-week low Rs 282.10 on 13 October, 2021 and 12 April, 2021, respectively.
Currently, it is trading 19.15 percent below its 52-week high and 384.14 percent above its 52-week low.
Market capitalisation stands at Rs 11,305.96 crore.