356.85 3.00 (0.85%)
NSEJan 20, 2021 03:52 PM
There are 5 reports from 5 analysts covering Angel Broking Ltd. available on trendlyne.com.
|Summary||Date||Stock||Broker||Price at Reco.||Target||Price at reco|
Change since reco(%)
|2020-09-22||Angel Broking Ltd. +||Ashika Research||IPO Note|
|2020-09-22||Angel Broking Ltd. +||Nirmal Bang||IPO Note|
Increase in market share by 2x in last five years, strong track record of introducing new technological products, proactive management and brand equity developed over last 2 decades; positions Angel well for transitioning into one of the top discount brokers in India with decent profitability in the longer term. Upon combining the financials of IIFL Securities and 5 Paisa, we observe that this entity shares identical characteristics to Angel with respect to number/market share of active clients, revenue and return on equity. However Angel's valuations compared to the hypothetical entity of IIFL + 5 Paisa is higher based on FY20 earnings. Also we believe Q1FY21 has benefits of bunching up of (i) work from home due to COVID situation & (ii) broad based buoyancy in markets. The sustenance of these dual benefits into the future is uncertain and hence we believe it would be premature to annualize Q1FY21 earnings. We thus rate the issue as NEUTRAL.
|2020-09-21||Angel Broking Ltd. +||HDFC Securities||IPO Note|
|2020-09-21||Angel Broking Ltd. +||ICICI Securities Limited||IPO Note|
ICICI Securities Limited
Incorporated on August 8, 1996, Angel Broking is now a technology-led financial services company providing broking and advisory services, margin funding, loans against shares (through one of its Subsidiaries, AFPL) and distribution of financial products to its clients. It is one of the largest retail broking houses in India in terms of active clients on NSE as of 30 June 2020. As of March 2020, Angel Broking's revenue from operations came in at | 711 crore in FY20. Healthy ADTO growth (led by flat brokerage) and well controlled opex resulted in EBITDA of | 154 crore with OPM at 22%. PAT...
|2020-09-21||Angel Broking Ltd. +||Ventura||IPO Note|