Update | April 15, 2026, 16:56 IST

Shares of Groww ended Wednesday’s trading session up 7.09% at ₹208.50 apiece on the BSE. Its market capitalisation stood at ₹1.31 Lakh Cr (about $14 Bn) at the end of the day.

Original Story | April 15, 2026, 12:00 IST

Shares of Groww surged as much as 9.37% during the intraday trading today, hitting a fresh 52-week high of ₹212.95 on the BSE after Bank of America (BoFA) initiated coverage on the stock with a ‘Buy’ rating.

The stock later pared some gains and was trading 6.52% higher at ₹207.40 at 12.00 IST, with the company’s market capitalisation at ₹1.30 Lakh Cr (about $13.99 Bn).

BoFA initiated coverage on Groww with a price target of ₹235, implying a 21% upside from the last close. It said Groww is strongly positioned to benefit from India’s retail investing tailwinds and projected a 30% revenue CAGR over FY26-FY28.

The brokerage also underscored Groww’s “best-in-class” profitability, with further upside expected from operating leverage, which could drive EBITDA and PAT margins to 67% and 52%, respectively, by FY28E.

BoFA valued the company at 39X its FY28E price-to-earnings multiple, while flagging near-term risks such as weak capital market performance and the expiry of the six-month lock-in period.

The initiation adds to a series of positive calls on the stock. Last month, JPMorgan initiated coverage with an ‘Overweight’ rating and a price target of ₹210, calling Groww one of the most attractive India-listed consumer internet platforms.

Earlier, UBS initiated coverage on Groww with a ‘Neutral’ rating and a ₹185 price target.

Other brokerage and capital market-linked stocks also saw an uptick today amid a rally in the broader market. Shares of Angel One jumped about 6.31% to an intraday high of ₹298.40.

In the broader market, the BSE Sensex rose 1.85% to hit an intraday high of 78,270.42, while the Nifty 50 gained 1.84% to touch 24,280.90.

The rise in the indices came on hopes of renewed US-Iran peace talks. After a breakdown in negotiations over the weekend, reports suggest that both Washington and Tehran are ready for a second round of talks, which could resume as early as this week. 

On the financial front, Groww reported a 28% decline in net profit to ₹547 Cr in Q3 FY26 from ₹757 Cr in the year-ago quarter. On a sequential basis, net profit rose 16% from ₹471.3 Cr. Operating revenue stood at ₹1,216.1 Cr, up 25% YoY and 18% QoQ.

 

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