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Angel Broking Ltd | The share price has surged 186 percent to 873.90 on July 1, 2021, from its issue price of Rs 306. It was listed on exchanges on October 5, 2020, with an issue size of Rs 600 crore.

Angel Broking's share price hit record high on July 16 surging over 13 percent intraday after the company declared its Q1 numbers.

Angel Broking reported 19 percent increase in consolidated net profit at Rs 121.37 crore in Q1 FY22 over Q4 FY21.

The stock broker's consolidated net profit jumped 156.6 percent while revenue from operations jumped 94 percent in Q1 FY22 over Q1 FY21. Total income stood at Rs 474.5 crore in Q1 FY22 as against Rs 418.9 crore in Q4 FY21, a growth of 13 percent QoQ.

Its income growth was aided by strong growth in client base and high client activity.

Profit before tax increased by nearly 14 percent QoQ and 154.7 percent YoY to Rs 162.16 crore in Q1 FY22.

The stock was trading at Rs 1,194.45, up Rs 132.40, or 12.47 percent at 11:24 hours. It has touched a 52-week high of Rs 1,218.40. It has touched an intraday high of Rs 1,218.40 and an intraday low of Rs 1,109.15.

The company board declared an interim dividend of Rs 5.15 per share with a record date of July 26, 2021.

The company's board consented to submit an application to Sebi to obtain approval for acting as a sponsor to mutual fund and to constitute a committee. It will oversee the activities in relation to the proposal of setting up of mutual fund business by the company.The board, in its meeting held on July 15 also approved the change of name of the company from 'Angel Broking Limited' to 'Angel One Limited' or Angel One Fintech Limited' or any other name as may be approved by the Central Registration Center of Ministry of Corporate Affairs.

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