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.
Indian startups raised $5.2 billion across 501 deals in H1 2026, down 9% in value but up 7% in deal count year-on-year, per the Inc42 Indian Tech Startup Funding Report. The drop is driven by fewer mega-rounds, while AI funding surged 317% and growth-stage deal activity hit a multi-year high.
The BSE Sensex fell 893 points and the Nifty 50 shed 279 points on June 30, 2026, wiping out roughly Rs 6 lakh crore in investor wealth in a single session. Both indices dropped 1.16%, closing at 76,200.68 and 23,824.10 respectively.
Kotak Mahindra Bank shares fell nearly 3% to Rs 397.6 after CEO Ashok Vaswani announced plans to exit the bank. Investor concern now centres on succession timing and whether the bank's ongoing digital and deposit-growth strategy will stay on track.
South Korea's Kospi dropped 3% at Monday's open while Japan's Nikkei fell 1%, as escalating US-Iran conflict triggered a broad risk-off move across Asian markets. South Korea's heavy reliance on Middle East oil imports makes it especially vulnerable to geopolitical shocks of this kind.
