Groww's parent company sees shares soar after Jefferies's big thumbs-up
Billionbrains Garage Ventures, the company behind investment app Groww, just saw its shares jump 20% in three days.
The buzz started when Jefferies gave them a 'Buy' rating and predicted their earnings could grow by 35% each year for the next three years.
With a new target price of ₹180 per share (up from ₹161), there's some real optimism around this stock right now.
What's driving the hype—and what could go wrong
Jefferies is excited about Billionbrains's plans to launch new products and boost profits by cross-selling higher-yield options—right now, half their clients' money is in mutual funds, but that could change soon.
Still, there are some risks on the horizon, like possible regulatory changes and cybersecurity threats.
Jefferies says nailing these new business moves will be key if they want to keep up the momentum.