Groww parent hits 52-week high after Bank of America target
Billionbrains Garage Ventures, the company behind investment app Groww, just saw its stock hit a 52-week high.
The buzz started when Bank of America Securities gave it a buy rating and set a target price of ₹235, sending shares up more than 6% to ₹207.39 within hours.
Over 79 million Groww shares traded
Trading was intense: more than 79 million shares changed hands by midday, with total traded value hitting ₹16.35 billion and market cap reaching ₹1,30,070 crore.
Bank of America is betting on Groww riding India's retail investing wave, predicting strong revenue growth (30% CAGR from fiscal 2026 to fiscal 2028) and higher profit margins ahead.
Despite recent market ups and downs, Groww shares have jumped 33% in the last month and are now almost double their IPO price, showing investors are feeling pretty optimistic about what's next.