IIFL Securities Stock Market Watch Today: Buy Angel One - October 01

IIFL Securities recommends buying Angel One shares, citing favorable market conditions and the company's strong fundamentals. With a current market price of Rs 2735.95, IIFL has set a target price of Rs 2775, indicating a potential return of approximately 1.47%. Angel One, a leading online stockbroking platform, has benefited from the rising demand for online trading services. The company's focus on innovation and customer service has positioned it well in the competitive brokerage landscape.

About Angel One:

Angel One, formerly known as Angel Broking, is a leading digital discount broker in India. It is a subsidiary of the publicly listed Angel Broking Limited and is registered with the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The company offers a wide range of financial products and services, including equity trading, commodity trading, currency trading, mutual funds, and other investment options. Angel One has a strong digital presence and provides an online trading platform for its clients. The company has a wide network of branches and franchisees across the country.

52 Week Price Trend:

Angel One's current market price (CMP) stands at Rs 2735.95, significantly below its 52-week high of Rs 3900.35. This reflects a substantial correction from its peak, driven by broader market volatility and sector-specific headwinds. However, the stock has rebounded from its 52-week low of Rs 999, indicating some resilience and underlying support. Analysts remain cautiously optimistic about the company's long-term prospects due to its strong brand recognition, growing customer base, and strategic initiatives in digital brokerage services.

Stratzy's MOST Analysis:

Based on Stratzy's MOST framework, ANGELONE has received a rating of BB-, indicating medium fundamental risks. This rating is derived from an assessment of the company's management, outlook, safety, and trend. While ANGELONE may exhibit some strengths in certain areas, there are also identified areas of concern or weakness. Investors should carefully consider these factors and conduct their own due diligence before making any investment decisions.

Company's Fundamentals:

Angel One (NSE:ANGELONE) is an Indian financial services company. Its current Stock PE ratio of 23.71 indicates that investors are willing to pay 23.71 times its earnings per share, which may suggest the stock is fairly valued. The Price-to-Book (PB) ratio of 9.55 implies that the market value of the company's assets is 9.55 times its book value, suggesting it is trading at a slight premium. Lastly, the Dividend Yield of 1.34% indicates that the company pays out 1.34% of its share price in dividends, making it a relatively low-yield stock.

Fundamental and Technical information provided in this blog were last updated on 01 Oct, 2024

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