BofA Securities starts India's Groww parent with "buy", shares rise

Billionbrains Garage Ventures

16/04/2026 04:54

** Brokerage BofA Securities initiates India's Billionbrains Garage Ventures, parent of Groww BILO.NS, with "buy" rating, sets PT at 235 rupees

** Shares of BILO up 2.3% to 213 rupees

** BILO set for sixth straight session of gains

** Co well positioned to outpace industry growth owing to its strong focus on new-to-investing customers and increasing product adoption amongst existing users- BofA

** BofA expects rev growth of 30% CAGR over FY26E-28E for co

** Co has one of the highest profit margins among peers- BofA

** BILO rated "buy" on avg by 9 analysts covering it; median PT at 190 rupees- data compiled by LSEG

** YTD, BILO up 33.5%

(Reporting by Komal Salecha in Bengaluru)

((Komal@thomsonreuters.com))