Groww Shares Soar 10% on Strong Q3 Results, State Street Investment

• Groww's parent company, Billionbrains Garage Ventures Ltd., saw its shares surge 10% on January 16, nearing post-listing highs.
• Motilal Oswal maintained a 'Buy' rating, raising the price target to ₹190, citing strong revenue growth and user adoption.
• Groww's broking business is gaining market share with new product launches like margin trading and commodities.
• State Street invested ₹580 crore for a 23% stake in Groww AMC, bringing global expertise and strategic significance.
• Groww reported robust Q3 performance: revenue up 19% QoQ to ₹1,216 crore, net profit up 16% QoQ to ₹547 crore, and a 38% sequential expansion in its MTF book.

Why It Matters: Groww's shares surged due to strong Q3 results, positive brokerage commentary, and a significant investment by State Street.