Shares of Angel One tumbled by 10% in intra-day trading on Monday, March 3, after the brokerage firm alerted exchanges about a data breach. On Thursday, the company received an alert from its dark-web monitoring partner regarding unauthorised access to client data. Angel One discovered that certain AWS resources had been “compromised,” leading to unauthorised access to client data on the dark web.
The company’s stock has fallen approximately 12% over the past two days. At the time of writing, Angel One's stock was trading at Rs 1,990.90, down 179.40 points or 8.27% from Friday’s close of Rs 2,169.15. Over the last year, the stock has declined more than 30% and nearly 22% in the past six months.
“In order to contain the impact, the company has immediately changed all related credentials of its AWS cloud and other applications… We continue to investigate this further to assess its potential impact, if any,” Angel One said in a statement.
The company also noted that it had enlisted an external forensic expert to assess the breach and conduct a root cause analysis.
“We have verified that this breach does not have any impact on clients' securities, funds, and credentials; and all our client accounts remain secure. We continue to investigate this further to assess its potential impact, if any, and are making this disclosure as a matter of good governance,” it said in the notification dated February 28.
Credit rating agency CRISIL reaffirmed its ratings on Angel One Ltd. It maintained a ‘CRISIL AA-’ rating with a ‘Positive’ outlook on the company’s long-term ratings and reaffirmed its ‘CRISIL A1+’ rating on short-term ratings.
“The ratings continue to factor in the Angel group’s strong market share and longstanding presence in the equity broking segment along with the extensive experience of its promoters in the capital market business. The ratings also take into consideration the group’s sound risk management systems and its comfortable capital position,” the agency said.
“These strengths are partially offset by high dependence on broking income, increasing competition in the segment, and susceptibility to uncertainties inherent in the capital market business,” it added.
Angel One has maintained a strong market position in the equity broking segment and remains among the top three players in terms of active client base, as well as the second largest in terms of incremental active client additions as of December 31, 2024. The group added around 21 lakh clients during the third quarter of fiscal 2025, bringing its overall client base to 2.95 crore as of December 2024. The group’s active client base grew by 46% year-on-year, reaching 77.6 lakh as of December 31, 2024.
