Along with the surge in Angel One, other Capital market peers, such as CDSL, NSDL, Motilal Oswal, are also trading with gains between 2% to 5% on Wednesday.
The stock has also surged on strong volumes on Wednesday, which are triple their 20-day average at this time of the day. Nearly 1.5 crore shares of the company have changed hands as of 12:30 PM, compared to their 20-day average of 45 lakh shares.
Shares of Angel One had begun trading adjusting for their 1:10 stock split from February 26, when one share of ₹10 was divided into 10 shares of ₹1. Since then, the stock fell 17% to a low of ₹208 on March 13, before recovering.
As a result of the correction, the stock slipped below its key moving averages in February and continues to remain below those levels. Currently, the 50-Day Moving Average for the stock is at ₹246.9, followed by the 100-DMA at ₹253 and 200-DMA at ₹256.
12 analysts have coverage on Angel One, of which, nine have a “buy” rating, two say “hold” and one has a “sell” recommendation on the stock. The consensus estimates of price targets implies a potential upside of 21% from current levels.
At the current price, shares of Angel One are trading at a one-year forward estimated price to earnings multiple of 17 times.
Shares of Angel One are trading 8.4% higher on Wednesday at ₹235.15. Shares of NSDL are also trading near the highs of the day, trading 4.4% higher at ₹895.5. CDSL shares are also trading with gains of 3.1%, while those of Motilal Oswal are up 3.4%.
