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BUZZ-India's Angel One slumps on posting slowest profit growth since listing

ReutersJan 14, 2025 4:01 AM

** Shares of Angel One ANGO.NS fall as much as 6% to 2,300 rupees in early trade, lowest since Aug. 9

** Stock top loser on Nifty smallcap index .NIFSMCP100, which is up 0.49%

** Investment banking and brokerage services provider posts 8% Y/Y rise in Q3 profit, its slowest profit growth since listing in 2020

** Says it faced tighter regulations in equity derivative sector, which raised entry barrier and made it more costly to trade in the asset class

** Avg rating of seven analysts is a "buy"; median PT is 3,600 rupees - LSEG data

** Stock fell about 16% in 2024 vs an around 24% gain in smallcap index

($1 = 86.5150 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))

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