Heavy buying witnessed: This stock zoomed more than 6.5 per cent in today’s session!

The Board of Directors have recommended a dividend of Rs 13.6 per equity share

On Tuesday, shares of Angel One zoomed more than 6.5 per cent to make an intraday high of Rs 1357.35. The scrip witnessed massive spurt in volume by more than 2.01 times.  

In Q4FY23, the net revenue of the company zoomed by 26.9 per cent from last year’s same quarter to Rs 644.2 crore. The EBDAT level of the company rose by 32.6 per cent from March 2021 quarter to Rs 370.5 crore. The net profit of the company witnessed a spike of 30.4 per cent from the corresponding quarter last year to Rs 267 crore.  

The Board of Directors have recommended a dividend of Rs 13.6 per equity share of Rs 10 each, as a combination of interim and final dividend, equivalent to 43 per cent of consolidated profit after tax for the quarter.  

The company also informed the exchange that to make further strides in the fintech space, they appointed Amit Majumdar as the Executive Director – Strategic Initiatives. He will be responsible for driving strategic initiatives to further strengthen Angel One's position in the fintech industry and accelerate its growth.  

Angel One is the largest listed retail stock broking house in India, in terms of active clients on NSE. Angel One is a technology-led financial services company providing broking and advisory services, margin funding, loans against shares and distribution of third-party financial products to its clients. 

The stock has witnessed positive traction as it has zoomed more than 20 per cent in just one month. Keep a close eye on this trending stock.