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New Delhi: The shares of Billionbrains Garage Ventures, the parent company of discount broking platform Groww, witnessed a rise on Tuesday, January 6. Despite the weak market sentiment, the stock rose about 3 percent intraday. The main reason for this was the brokerage Motilal Oswal Financial Services (MOFS) started coverage on shares and gave the rating of BUY. MOFS has fixed a share target price of Rs 185 for Groww's stock. This shows an upside of about 19 percent from the previous closing price of the stock. However, this target is slightly below the all-time high of 193.91 rupees made in November 2025.
According to MOFS, Groww has established itself as the country's largest retail broking platform within just four years of its launch. Based on active clients of NSE, Groww's market share was around 26.8 percent in November 2025. Initially, Groww, which was only a mutual fund platform, has now made a strong foothold in the stock market as well. Its share in the stocks segment has reached about 25.8 percent and in derivatives about 17.3 percent.
Groww is now a full-stack investment platform, which includes services like broking, commodities, MTF, credit and wealth management. By the end of the first half of FY26, there were about 1.48 million active users on the platform.
MOFS believes that Groww's income profile will be more balanced in the coming years. Whereas the contribution of broking revenue was about 85 percent in FY25, it is expected to decrease to 67 percent by FY28. Motilal Oswal says that MTF earnings will be more stable due to better cash yield, increase in minimum brokerage and growth in non-derivative revenue. In addition, the focus on influential customers through the wealth management platform will open up new avenues of monetisation.
The brokerage is confident that in India's still low-penetration capital market ecosystem, Groww can increase earnings exponentially in the long term. Due to strong cost efficiency, the company's return metrics will also remain good.
(Disclaimer: This article is only meant to provide information. TV9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, gold, silver and crypto assets.)
