Shares of Billionbrains Garage Ventures, the parent of investment platform Groww, surged in trade on Wednesday after fresh brokerage coverage. The stock was trading at Rs 209.74, up Rs 15.03 or 7.72 percent on the NSE. The CNBC-TV 18 report further added that as per the brokerage, Groww is well placed to benefit from strong retail investing trends in India and expects the company to deliver a revenue CAGR of 30 percent between FY26 and FY28. It also highlighted the company’s strong profitability profile, with scope for further gains driven by operating leverage. BofA expects EBITDA and PAT margins to expand to 67 percent and 52 percent, respectively, by FY28. The brokerage has valued the stock at 39 times its estimated FY28 earnings, while flagging near-term risks such as weak capital market conditions and the expiry of the six-month lock-in period. The latest call adds to a string of positive views on the stock. Last month, JPMorgan initiated coverage with an ‘Overweight’ rating and a target price of Rs 210, while UBS had earlier started coverage with a ‘Neutral’ rating and a target of Rs 185.
