Shares of Billionbrains Garage Ventures, parent company of discount broking firm Groww, rallied over 7% to a record high of ₹208.36 apiece in Wednesday's trading session after global brokerage firm Bank of America Securities (BoFA) initiated coverage on the counter.
Groww share price opened at ₹201.01 per share today as compared to the previous close of ₹194.71 on Monday.
BofA initiates coverage on the Groww share price
BofA has initiated coverage on Groww with a ‘Buy’ recommendation and set a price target of ₹235 per share, indicating a potential upside of 21% from its last closing level, according to a report by CNBC TV18.
The brokerage noted that Groww is well placed to benefit from India’s strong retail investing momentum and expects the company to post a revenue CAGR of 30% between FY26 and FY28.
It also anticipates EBITDA and PAT margins to improve to 67% and 52%, respectively, by FY28.
The firm has valued Groww at 39 times its projected FY28 price-to-earnings multiple, while highlighting near-term risks such as subdued capital market performance and the end of the six-month lock-in period.
BofA also underscored Groww’s strong profitability, driven by a scalable model with a high proportion of fixed costs. As the platform continues to expand, operating leverage is likely to boost margins, it said.
The brokerage projects EPS to grow at a CAGR of about 35% over the next two years, supported by robust revenue growth and better cost efficiencies.
Last month, JPMorgan began coverage on the stock with an ‘Overweight’ rating and set a price target of ₹210, describing it as the most attractive listed consumer internet platform in India.
Groww Q4 results 2026 details
In an exchange filing on Tuesday, the company said that the board will meet on Monday, April 20, to consider and approve the financial results for the quarter ending on March 31, 2026.
According to the filing, the company will also hold an earnings conference call on Monday, April 20, at 04:00 p.m. (IST) to discuss the audited financial results.
Groww share price trend
Groww share price has largely remained positive since its listing in November 2025. The stock has delivered 14.21% returns in a week and over 33% in a month.
Furthermore, the stock has gained 32.41% on a year-to-date (YTD) basis. Groww shares hit a 52-week low of ₹112.02 on November 12, 2025.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
