Groww parent company shares fall 7 per cent after nine-day rally
Billionbrains Garage Ventures shares dropped on Friday as investors booked profits following a 23 per cent surge over nine sessions, Mint reported.
Shares of Billionbrains Garage Ventures, the parent company of stockbroking platform Groww, fell nearly 7 per cent on Friday, November 6. The decline occurred after the stock had risen more than 23 per cent during the previous nine trading sessions.
The stock hit an intraday low of ₹208.75 on the BSE, according to Mint. Despite the drop, the share price remains 8 per cent below its 52-week high of ₹227, which was recorded in April 2026.
The company recently reported a 54 per cent rise in consolidated net profit for the September quarter of FY27, reaching ₹725 crore from ₹471 crore in the same period last year. Revenue for the quarter grew 44 per cent to ₹1,541 crore.
Groww's transacting user base rose 27 per cent year-on-year to 2.4 crore, while customer assets increased 46 per cent to ₹3.9 lakh crore. The commodities business contribution to revenue grew to 6.2 per cent from 0.2 per cent in the previous year.
Jefferies maintained a Buy rating on the company but reduced its target price from ₹250 to ₹240. The brokerage expects a 30 per cent compound annual growth rate in profit after tax between FY26 and FY29.
The brokerage noted that the margin trading facility could become a larger revenue contributor, potentially reaching 14 per cent of revenue by FY29 from 5 per cent in FY26.