Shares of Billionbrains Garage Ventures Limited, the parent company of stock broking platform Groww, surged to a 52-week high of ₹212.90 on Wednesday after Bank of America Securities initiated coverage on the stock with a ‘Buy’ rating and a target price of ₹235.

The stock was trading at ₹207.39 as of 11.52 am, up 6.51 per cent or ₹12.68 from its previous close of ₹194.71. The day’s trading volume stood at 790.19 lakh shares, with a traded value of ₹1,635.39 crore.

BofA Securities expects Groww to deliver revenue growth of 30 per cent CAGR between FY26 and FY28, citing the company’s positioning to benefit from India’s retail investing tailwinds.

The brokerage projected EBITDA margins and PAT margins expanding to 67 per cent and 52 per cent respectively by FY28, driven by operating leverage.

It has valued the company at 39x its FY28 estimated price-to-earnings multiple. Near-term risks flagged include weak capital market performance and the upcoming expiry of the six-month lock-in period for pre-IPO shareholders.

Wednesday’s move adds to a strong run for the stock. Groww shares have gained over 33 per cent in the past month and are up approximately 95 per cent from their IPO issue price of ₹100. The company listed on NSE on November 12, 2025.

The BofA note follows a string of positive institutional calls on the stock. Last month, JPMorgan initiated coverage with an ‘Overweight’ rating and a target price of ₹210. UBS, however, was more cautious, initiating with a ‘Neutral’ rating and a target of ₹185.

Of nine analysts currently tracking Billionbrains Garage Ventures, seven carry ‘Buy’ ratings, while one each hold ‘Hold’ and ‘Sell’ recommendations. The company’s total market capitalisation stood at approximately ₹1,30,070 crore as of Wednesday morning.

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Published on April 15, 2026