Here’s why Anil Singhvi is bullish on brokerage, AMC stocks; buy calls on Angel One, ICICI Pru AMC — check targets

Brokerage, asset management and wealth management stocks remained firmly in focus after a round of better-than-expected earnings, prompting Zee Business Managing Editor Anil Singhvi to roll out aggressive buy calls across select counters. Despite concerns around cost pressures and mixed headline profitability, operational performance across market-linked companies remained resilient, keeping sentiment constructive.

Groww parent rallies despite headline profit decline

Shares of Billionbrains Garage Ventures, the parent company of stockbroking platform Groww, jumped nearly 4 per cent to an intraday high of Rs 170.95 on the BSE on Friday, January 16. The stock gained even as the company reported a 27.8 per cent year-on-year decline in consolidated net profit for Q3 FY26 at Rs 546.93 crore, compared with Rs 757.11 crore in the year-ago period.

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The fall in profit was largely due to a one-time tax-adjusted gain of Rs 315 crore recorded in Q3 FY25. Excluding this, the underlying performance remained strong. Operating PAT rose 24 per cent year-on-year to Rs 546.93 crore from Rs 442 crore, while revenue from operations surged 24.8 per cent to Rs 1,216.07 crore from Rs 974.53 crore a year earlier. Standalone net profit, however, declined 36.7 per cent year-on-year to Rs 428.45 crore.

Operationally, Groww continued to strengthen its market presence. Its share in the cash equity segment increased to 28.8 per cent from 21.6 per cent a year ago, while its equity derivatives market share rose to 18.1 per cent from 12.2 per cent. Average daily turnover in the retail cash segment grew 21 per cent to Rs 11,331 crore, and retail derivatives turnover jumped 45 per cent to Rs 11,483 crore, highlighting strong client activity.

Angel One results beat expectations

Angel One Ltd also delivered earnings that were better than market expectations. The broking firm reported consolidated revenue of Rs 13,348.96 million for Q3 FY26, up 5.76 per cent year-on-year, while net profit slipped 4.55 per cent to Rs 2,686.64 million from Rs 2,814.66 million a year ago.

The company also made an announcement regarding ran interim dividend of Rs 23 per share and approved a 10-for-1 stock split at its board meeting on January 15, 2026, adding to positive sentiment. Revenue improved sequentially to Rs 12,017.58 million, though elevated costs continued to weigh on year-on-year profitability.

Anil Singhvi issues buy calls

Against this backdrop, Anil Singhvi highlighted the strong earnings momentum in capital market-linked stocks and issued multiple buy calls. He recommended buying Angel One futures with a stop loss at Rs 2,485 and upside targets of Rs 2,545, Rs 2,565 and Rs 2,585.

Singhvi also turned bullish on the wealth management and AMC space. He advised a buy on 360 One WAM futures with a stop loss of Rs 1,140 and targets of Rs 1,185, Rs 1,200 and Rs 1,225, citing robust performance across key operating metrics. In the asset management segment, he recommended buying ICICI Prudential AMC with targets of Rs 2,760, Rs 2,790 and Rs 2,830, and HDFC AMC futures with targets of Rs 2,590, Rs 2,615 and Rs 2,640.

With earnings coming in above expectations and clear bullish calls from Anil Singhvi, market participants expect buying interest in brokerage, wealth management and AMC stocks to continue in the near term.