External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only.  Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Angel One clocked a modest 1.4% QoQ growth in net revenues, driven by an inferior order mix and lower ancillary transaction revenues (-10% QoQ)</li><li>Admin costs spiked again and are likely to stay elevated on the back of investments in additional tech talent and new businesses</li><li>While Angel One has gone through multiple BlitzScale gears (50k daily client adds during Dec’23), we believe that the quality of incremental customer additions is turning inferior (lower trading intensity)</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Angel One clocked a modest 1.4% QoQ growth in net revenues, driven by an inferior order mix and lower ancillary transaction revenues (-10% QoQ)Admin costs spiked again and are likely to stay elevated on the back of investments in additional tech talent and new businessesWhile Angel One has gone through multiple BlitzScale gears (50k daily client adds during Dec’23), we believe that the quality of incremental customer additions is turning inferior (lower trading intensity)Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Angel One: Plateauing Marginal Utility, Maintain ADD