Bank of America initiated coverage on Groww with a 'Buy' rating and a ₹235 price target, sending the stock up as much as 9.37% intraday to a 52-week high of ₹212.95 on the BSE before it settled around ₹206.80, pushing market capitalisation to approximately ₹1.29 lakh crore ($13.92 billion). BoFA projects 30% revenue CAGR over FY26, FY28, anchored by India's retail investing tailwinds, and values the company at 39x FY28E price-to-earnings. The brokerage flagged EBITDA and PAT margins potentially reaching 67% and 52% respectively by FY28, driven by operating leverage. Risks cited include weak capital market conditions and the approaching expiry of a six-month lock-in period. The call adds institutional weight to a building coverage narrative: JPMorgan previously initiated with an 'Overweight' rating and a ₹210 target, while UBS took a more cautious 'Neutral' stance with a ₹185 target. The spread between bull and bear targets implies ongoing disagreement on valuation. Groww's most recent quarterly results showed Q3 FY26 net profit declining 28% year-on-year to ₹547 crore, though operating revenue grew 25% YoY to ₹1,216.1 crore. The lock-in expiry and capital market volatility remain the clearest near-term variables to monitor.
The Indian government has launched an OFS to sell up to 6.5% of its LIC stake, opening for non-retail investors on August 4, 2026, at a floor price of Rs 382 per share, about 11% below Monday's close. The discounted offering is likely to pressure LIC shares in the near term as supply increases sharply.
More than a dozen major Indian companies including Bharti Airtel, ONGC, Pidilite, Nykaa, DLF, and Ather Energy report April-June 2026 earnings on August 4. Results span telecom, energy, consumer goods, real estate, and EV sectors, giving markets a broad read on corporate health mid-earnings season.
Amazon shares hit a new all-time high Monday, pushing its market cap above $3 trillion following a sustained post-earnings rally. The milestone places Amazon among the very few companies globally to reach this valuation, with investor focus on AWS and advertising growth driving the move.
Sensex Gains 500 Points as Oil Falls on Iran Talks
The Sensex rose around 500 points and the Nifty crossed 24,500 on Monday after Donald Trump announced talks with Iran, pushing oil prices lower. IndiGo, ITC, FMCG, and metals led the gains as cheaper crude eased cost and inflation concerns.
