Shares of Angel One gained over 7 percent on October 1, a day after the discount broking firm revised brokerage charges for cash and equity delivery transactions. The new brokerage charges shall be levied at flat Rs 20 or 0.1%+ GST whichever is lower per executed order (minimum brokerage of Rs 2 shall be levied).
The revised regulatory charges are effective from October 1 while the revised commercial charges will come into effect from November 1, 2024.
Notably, Angel One was offering the lowest brokerage rate and other charges in comparison to other discount brokerages.
| Charge Type | Details |
| Securities Transaction Tax (STT) | – Sale of futures in securities: 0.02% (from 0.0125%) – Sale of options in securities: 0.1% of premium (from 0.0625%) |
| IPFT Charges | – NSE Equity and NSE futures: Rs 10 per crore + 18% GST – NSE Equity options: Rs 50 per crore of premium + 18% GST – NSE Currency: Rs 2 per lakh of premium for options and 0.05 per lakh for futures + 18% GST |
| NCDEX Risk Management Fee | 0.10% (Rs 100 per lakh) on the premium value of every fresh overnight open interest position |
| Exchange Transaction Charges | -MCX: Futures 0.00210%, Options 0.0418% (from 0.05%) -NSE: Cash 0.00297%, Equity futures 0.00173%, Equity options 0.03503%, Currency futures 0.00035%, Currency and interest rate options 0.0311% -BSE: Index/stock futures 0%, Sensex 50/Stock options 0.0050%, Sensex/Bankex options 0.0325% -NCDEX: Futures 0.005800%, Options 0.030000%, Guar seeds options 0.015000% |
| DP Charges | Rs 20 + GST – Male: Rs 3.5 (Depository) + Rs 16.5 (Angel One Charge) + GST – Female: Rs 3.25 (Depository) + Rs 16.75 (Angel One Charge) + GST |
| Pledge/Unpledge Charges | – Margin pledge/unpledge/invoke: Rs 20 + GST (Rs 5 (Depository) + Rs 15 (Angel One Charge) + GST) – MTF pledge/unpledge/invoke: Rs 20 + GST (Rs 12 (Depository) + Rs 8 (Angel One Charge) + GST) – CUSPA pledge/unpledge/invoke: Rs 20 + GST (Rs 5 (Depository) + Rs 15 (Angel One Charge) + GST) |
| Annual Maintenance Charges | Rs 60 per quarter for Non-BSDA accounts from the second year onward |
| Cash Collateral Margin Shortfall | – Interest charge of 0.0342% per day for excess shortfall over Rs 50,000 |
The move comes after both National Stock Exchange (NSE) and BSE revised their own transaction charges from October 1, moving to a true-to-label fee structure instead of a slab-wise fee structure, as was the case earlier.
Angel One’s management informed CNBC-TV18 that the transition to a new fee structure would reduce its revenue by 8 percent. However, implementing a brokerage fee of Rs 20 per order could help offset this impact.
At 10:45 am, Angel One shares were trading more than 3 percent higher at Rs 2,643.50 on the National Stock Exchange (NSE). The stock has slumped around 26 percent so far this year, underperforming Nifty’s returns of 18 percent.
In the past 12 months, however, the counter has risen over 43 percent, nearly. In comparison, Nifty rose 32 percent during this period.
