Angel One overtakes Zerodha to become India’s second-largest stockbroker by active investors on the National Stock Exchange (NSE), after adding about 2.43 lakh net active clients in October. NSE data cited by multiple outlets show Angel One’s active investor base rises to roughly 69.98–69.99 lakh, while Zerodha records about 67.6 lakh active investors.
Several outlets link the shift to a broader backdrop of broker competition and market activity, noting that the ranking change is the first among the top three discount brokers in years. Coverage also references that weak market returns and tighter derivatives trading conditions have pressured retail activity in the past, with regulatory steps such as reduced weekly derivatives expiries and higher margins affecting brokers reliant on frequent retail trading. Other reporting frames the move as tied to Jio Platforms’ IPO momentum, which Bloomberg says helped Angel One surpass Zerodha for second place.
Additional details vary by outlet: some focus mainly on NSE active-client rankings and market share, while others add company-level figures. NDTV and the Free Press Journal report that Angel One’s total client base crosses 4 crore in October (around 4.06 crore) and that its quarterly results improve, including a strong year-on-year jump in net profit.
