Groww Share Price Jumps to 52-Week High as BofA Gives Buy Rating
Groww shares surged up to 9% after BofA Securities started coverage with a Buy rating, lifting the stock to a fresh record high. The move came ahead of Groww’s April 20 results, with the market also watching strong mutual fund interest in the stock.
Groww Shares Jump After BofA Buy Call
Groww, the retail investing platform run by Billionbrains Garage Ventures, saw its share price rise sharply after BofA Securities began coverage with a bullish view. The brokerage said the company is well placed to benefit from India’s growing retail participation in financial markets, and it set a target price of INR 235, implying further upside from recent levels.
The stock touched a fresh 52-week high of INR 204.30 in intraday trade, while another report put the peak at INR 207.60 during the session. Reports also said the shares gained about 4% to 9% depending on the time of trade, showing strong buying interest across the day.
Why BofA Is Bullish On Groww
BofA’s positive view is based on Groww’s position as a direct play on India’s financial deepening. The brokerage expects strong growth in revenue, users and average revenue per user, supported by wider retail participation in markets and improved monetisation.
The company has also built a strong brand in online investing, which has helped it grow at a fast pace in a competitive space. Market watchers say this is one reason the stock has kept drawing interest from both retail and institutional investors.
Mutual Funds Add To The Buzz
The rally has not been driven by brokerage views alone. A report from DSIJ said 123 mutual funds have taken positions in Groww, which suggests broader institutional confidence in the stock ahead of the company’s April 20 results.
That kind of buying matters because it shows the stock is not only being chased by traders. It is also being watched by longer-term investors looking for growth in India’s expanding digital investing market.
Strong Momentum Before April 20 Results
Groww has been one of the more active names in the market over the past few sessions. Fortune India reported that the stock had already been rising for three straight sessions before the latest jump, with the company hitting a record high and gaining nearly 19% in that stretch.
The stock is also trading well above its issue price, showing that investor appetite remains strong since its market debut. With results due on April 20, the next key focus will be whether the company can match the market’s optimism with strong numbers.
What Investors Will Watch Next
The current rally has put Groww back in the spotlight as one of the most closely tracked new-age financial stocks. Investors will now look at user growth, revenue trends, profitability and how well the company is converting its platform strength into earnings.
For now, the message from the market is clear: BofA’s Buy call, steady mutual fund interest and strong retail demand have together pushed Groww into fresh high territory. The coming results will decide whether this momentum can continue or cool off after the recent run-up.
Sakshi Jadhav