Friday, February 23, 2024
Home News This broking firm declares 4th interim dividend, FIIs stake up 5.98% in...

This broking firm declares 4th interim dividend, FIIs stake up 5.98% in Q3: Buy sell or hold?

 

A mid-cap firm operating in the stock brokerage industry, Angel One Limited has a market capitalization of $9,486 billion. AngelOne has held the distinction of being India’s Most Reliable Stock Broking Company for the past 25 years. The company had the most active clients as of December 31, 2021, making it India’s biggest publicly traded retail brokerage house. The company has paid its fourth interim dividend to its qualified stockholders, which was authorized by the board on the same record date.

You are hereby informed that the Board of Directors of the Company has authorized the declaration of the Fourth Interim Dividend for the Financial Year 2022–2023 at the rate of Rs. 9.60 per Equity Share of the Company having a Face Value of Rs. 10 per Share as of the Record Date. As previously stated, the record date for determining a shareholder’s eligibility to receive the aforementioned interim dividend announced by the Board is Friday, March 31, 2023. The dividend will be given on April 20, 2023, or earlier. Members whose names appear as beneficial owners of shares as of Friday, March 31, 2023, the set record date, on the member register or in the depositories’ records.

Broking Companies,

For the fiscal year that ends in March 2022, Angel One issues an equity dividend of 271.00% on face value 10, or 27.1 per share. At the current share price of 1,137.70, the dividend yield is 2.38%. The company has a solid track record of dividend declarations during the last five years.

AR Ramachandran, co-founder and trainer at Tips2Trades, commented on Angel One’s technical prognosis, saying that despite solid fundamentals in terms of profit growth and return ratios, an impending slowdown in the economy has led to a low number of demat accounts. Several stocks, including Angel One, are trading at or near 52-week lows as a result of weak lending demand brought on by open houses and higher interest rates. However, valuations say Angel One looks attractive at current levels. Technically Angel One is facing strong resistance at 1158 on the daily charts. If the daily close is above this resistance then investors can buy as it can reach the target of 1250-1374 in the near future. Support at 1091 Will happen.”

Today’s closing price for Angel One shares on the NSE was 1,137.70 per level, up 4.20% from the prior close of 1,091.80. In comparison to the 20-day average volume of 5,53,026 shares, the company saw an average total volume of 4,52,596 shares. The stock has lost 30.29% in the past year, and on a year-to-date measure, it has lost 13.59% in 2023. The share price reached a 52-week peak of 2,022.00 on April 29, 2022, and a 52-week low of 999.00 on April (01-Mar-2023).

In Q3FY23, the business reported that 43.68% of its shares were held by promoters, 17.25% by FIIs, 9.27% by DIIs, and 29.80% by the general public. FII/FPI shareholding rose from 11.27% in Q2FY23 to 17.25% in Q3FY23, while promoter shareholding in Angel One dropped from 43.71% in the Sep 2022 quarter to 43.68% in the Dec 2022 quarter, per Trendline data. FII/FPI investors grew from 169 to 193, mutual fund holdings dropped from 8.15 to 7.71 percent, and institutional investors’ holdings rose from 21.0 percent in the second quarter of 2018 to 26.5 percent in the third.

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