Overview
- The change was reported Friday after NSE data for October showed Angel One added 2.43 lakh net active investors to reach 69.98 lakh active NSE clients.
- Zerodha recorded 67.6 lakh active investors in the same October data while Groww remained the market leader with about 1.37 crore active clients.
- Angel One’s Q2 FY27 results showed consolidated revenue of ₹1,427 crore and net profit of ₹335 crore, and the company reported a registered client base of 4.06 crore with October gross additions of 6.6 lakh.
- Broader context: retail trading and active client counts fell sharply in 2025 after SEBI tightened derivatives rules and raised margin and tax costs, and brokers have spent 2026 rebuilding volumes by expanding into mutual funds, bonds and international access.
- What to watch next: sustained monthly net additions and trading volumes will determine whether Angel One holds second place, and investors should note that the firm now relies more on interest income from client funding as a source of revenue.