Groww Shares Poised for 20% Surge, Kotak Projects 'Buy' Rating

• Kotak Institutional Equities initiated coverage on Groww's parent company, Billionbrains Garage Ventures Ltd., with a 'Buy' recommendation.
• Kotak set a price target of ₹190 per share, indicating a potential 20% upside from Friday's closing levels.
• The positive outlook is based on Groww's product-led growth, expanding monetization across various financial services, and a scalable in-house technology platform.
• Motilal Oswal and Jefferies also issued 'Buy' ratings with price targets of ₹185 and ₹180 respectively.
• Despite positive calls, JM Financial initiated a 'Sell' rating with a ₹144 target, citing stretched valuation for a broking business.

Why It Matters: Kotak projects a 20% upside for Groww shares, joining other brokerages with 'Buy' ratings despite some valuation concerns.