Pending — not yet graded
Bullish on Groww with a target price of ₹240, implying a 23% upside. Jefferies believes Groww, as India's largest broker by active clients, has several levers to drive a 30% PAT CAGR over FY26-29, including 18% growth in broking, new initiatives like margin trading and wealth management, and 10 percentage points margin expansion. Adding US stocks in FY27 could boost FY28 earnings by 5-9%.

Jefferies Analysis’s track record: 3 graded calls · 95% CI 44–100%

GrowwBullishCalled 11 Sep 2026
Verdict:PENDING

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