Motilal Oswal Recommends 'BUY' for Billionbrains Garage Ventures (GROWW) with Rs 190 Target

• Motilal Oswal has issued a 'BUY' recommendation for Billionbrains Garage Ventures (GROWW).
• The target price for GROWW has been revised to INR 190, based on 28x FY28E EPS.
• GROWW reported a 25% YoY increase in operating revenue to INR 12.2 billion in 3QFY26.
• Operating expenses rose 20% QoQ due to the launch of the commodity segment and new user acquisitions.
• Adjusted EBITDA grew 24% YoY/19% QoQ, maintaining a stable margin of 61%.

Why It Matters: Motilal Oswal maintains a 'BUY' rating on GROWW, raising the target to Rs 190 on strong growth prospects.