Billionbrains Garage Ventures, the parent of Groww, saw its shares surge over 6% on Friday, April 10, hitting a fresh all-time high of ₹197.50 on the BSE. The stock has now rallied for three consecutive sessions, gaining around 20% during the period.

The rally was supported by strong trading activity, with around 2 crore shares changing hands. The Groww stock has been on an upward trajectory, rising nearly 50% over the past six months and gaining about 25% so far this year.

What’s driving the rally?

Investor demand has been strong in the brokerage firm as it continues to dominate the brokerage space, holding a 28% market share in terms of active clients, significantly ahead of the second-largest player at 15%.

Meanwhile, JPMorgan, last month, had initiated coverage on Groww with an ‘overweight’ rating and a price target of ₹210 per share. The brokerage described the company as the most lucrative India-listed consumer internet platform, citing consistent market share gains and strong appeal among aspirational investors.

It also pointed to Groww’s cross-selling capabilities and operating leverage, which could help it grow faster than the broader market. It added that while the stock may appear expensive as a discount broker, it looks attractive when viewed as a broader internet platform.

Groww Q3 performance

For the December quarter (Q3), the company reported a 27.8% year-on-year decline in consolidated net profit at ₹546.93 crore, compared with ₹757.11 crore in the same period last year. The decline was largely due to a one-time gain of ₹315 crore, net of tax, recorded in the base quarter. Excluding this, operating profit after tax rose 24% year-on-year from ₹442 crore, indicating underlying strength in the business.

Revenue from operations remained robust, rising 24.8% year-on-year to ₹1,216.07 crore from ₹974.53 crore in the year-ago quarter.

On a standalone basis, however, profit after tax declined more sharply, falling 36.7% year-on-year to ₹428.45 crore, compared with ₹677.46 crore in the corresponding quarter last year.

Despite the mixed earnings performance, the stock’s sharp rally suggests investors are focusing on the company’s strong growth trajectory, market leadership, and long-term positioning in India’s expanding retail investing ecosystem.

Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.