“Price Down 90%, Value Same — The Split That Shook Dalal Street!”
Table of Contents
- What Happened Today?
- 1:10 Stock Split Explained
- Current Trading Update
- Recent Financial Performance
- Other Key Developments
- What Investors Should Watch
What Happened Today?
Shares of Angel One Ltd. opened at around ₹251 on NSE on February 26, 2026 — marking a sharp 90% drop from the previous close of ₹2,489.90.
However, this was not a crash. The adjustment reflects the company’s 1:10 stock split becoming effective today.
Each share with a face value of ₹10 has now been split into 10 shares of Re 1 each. While the per-share price fell significantly, the overall investor value and market capitalization remain unchanged.
1:10 Stock Split Explained
The stock split was announced on January 15, 2026 alongside Q3 FY26 results. The goal is to improve liquidity and make shares more accessible to retail investors by reducing the price per share.
- Record Date: February 26, 2026
- Split Ratio: 1 share → 10 shares
- Face Value: ₹10 → Re 1
- Total Shares: ~9.08 crore → ~90.85 crore
- Dilution: None
This marks the first-ever stock split by Angel One.
Current Trading Update
As of midday trading on February 26:
- Price Range: ₹241.40 – ₹254.90
- Intraday Change: Down 2.4%–2.7%
- Volume: Over 5 million shares
- Average Price: ~₹248
Pre-split 52-week range was ₹1,941 – ₹3,285. Post-split levels adjust proportionally.
Estimated post-split market cap stands at ₹22,000–25,000 crore, with:
- P/E Ratio: ~32.5
- ROE: 13.5%
Recent Financial Performance
Q3 FY26 (Oct–Dec 2025)
- Net Profit: ₹268.66 crore (+27% QoQ)
- Revenue: ₹1,334.89 crore (+11% QoQ)
- YoY Profit: Down 4.55%
- Client Base: 35.7 million (+21% YoY)
- Gross Additions: 1.75 million
Q1 FY26
- Revenue: ₹1,143 crore (-19% YoY)
- Profit: ₹114 crore (-61% YoY)
The earlier slowdown was largely due to regulatory pressures impacting discount broking margins.
Other Key Developments
- Interim Dividend: ₹23 per pre-split share
- Business Restructure: Withdrawn transfer to Angel Securities subsidiary
- Promoter Holding: ~28–29%
- FII Holding: ~12–14%
- 1-Year Performance (Pre-Split): Down ~11%
The company retained its core operations including broking and depository services, signaling operational stability.
What Investors Should Watch
The split improves affordability and could increase retail participation. However, investors should monitor:
- Post-split liquidity trends
- Q4 FY26 results
- Margin sustainability amid competition
- Broking industry regulatory changes
While the price adjustment looks dramatic, fundamentals remain intact. The coming quarters will determine whether the momentum sustains in India’s competitive broking space.
Disclaimer: This article is for informational purposes only and not investment advice. Please consult a financial advisor before making investment decisions.