Angel One Limited CC-Dec23.pdf · 2024-01-16
You've already spoken about this issue, which is our futures our F&O ADTO growth has been much higher than the ordering growth, and this has been proved for many, many quarters now, but it seems to have accelerated a lot in this particular quarter. I mean, if I just simply look at it over a 2 -year period, our F&O orders have increased by almost 2.2, while the ADTO has increased by almost 5.5. So this is a very large gap created over 2 years. And I'm not sure if this is entirely explained by a decline in premiums and all of that. So I just want to understand what else is driving this? And this entire splitting of expiries, where we've got an index expiring every day has not really resulted in a material increase in F&O ordering for us. Do you anticipate that will happen from here onwards?
Your response on the order growth not picking up materially makes sense, which is why it's surprising as to why the ADTO growth picking up then, is a lot more, I don't know, is some activities -- does some institutional activity also pass through us or som ething which is driving this?