Angel One Shares Slump Over 6% After Weak November Business Update; Client Activity & Orders Decline Sharply

Shares of Angel One Ltd are experiencing heavy selling pressure on Wednesday after the broking firm reported a weaker-than-expected November 2025 business update on December 3rd. The stock opened lower at Rs 2,775, down 1.39% from the previous close of Rs 2,814.20 on the NSE.

Angel One shares hit an intraday low of Rs 2,644.10, falling more than 6%, before recovering marginally. Around 10 AM, the stock was trading down over 5.5% at Rs 2,655, as investors reacted negatively to month-on-month declines in client activity, orders, and even turnover metrics.

Angel One November Business Update: Orders Drop Double Digits

According to the business update, Angel One's client base in November stood at 35.08 million, up 1.5% month-on-month and 21.9% year-on-year. However, most other operational indicators showed a sequential decline.
Gross client acquisition fell 11.1% MoM to 5.0 million, and the company reported that their number of orders dropped sharply by 12.3% MoM to 117.30 million, down from 133.76 million in October.

Moreover, average daily orders slipped 9.6% to 6.17 million due to moderation in retail trading activity.
Another major indicator that is total Unique Mutual Fund SIPs registered came in at 737.83 thousand, which saw a decline of 9.4% MoM, although it is still up 13.3% YoY.

Angel One's Average Daily Turnover (ADTO) also declined as overall ADTO fell 9.8% MoM to Rs 53.49 trillion.
F&O ADTO dropped 10.1% MoM, and the Cash ADTO dipped 7.5% MoM. The only segment showing notable resilience year-on-year was commodity ADTO, rising 129.3% YoY, even though it slipped marginally MoM.

Angel One Q2 FY26 Results Update

Angel One has been one of the strongest performers in the broking space over the last two years. Its financial performance in Q2 FY26 (July-September 2025) has been positive, as the company reported a consolidated net profit of Rs. 212 crore, which was up 85% QoQ from Rs. 114 crore but down 50% YoY from Rs. 423 crore.

Total income/revenue stood at Rs. 1,204 crore, up 5% QoQ from Rs. 1,143 crore but down 21% YoY from Rs. 1,516 crore. Net revenue grew 5.6% QoQ to Rs. 941 crore because of broking and funding; AUM was up 17% to Rs. 400 crore.

About AngelOne

Angel One Limited, formerly Angel Broking Limited, is an Indian fintech stockbroker founded in 1996 by Dinesh Thakkar and headquartered in Mumbai. It provides digital broking services across equity, commodities, currencies, derivatives, mutual funds, IPOs, and margin funding through its app and platforms, serving over 34 million registered clients as of Q2 FY26.