Groww Shares Zoom 10% On Entry In BSE LargeCap Index

SUMMARY

The stock rally came after an official notification on the exchange that Groww will be entering the BSE Large Cap Index

Shares of Groww and Lenskart will be included on the BSE Allcap, BSE Large Cap index, BSE Large MidCap, and BSE Financial Services, said BSE Index

Groww got listed on the bourses on November 12, with the shares of the company listing 14% above their issue price on the BSE

Shares of stock broking platform Groww surged almost 10% to INR 175.60 during intraday trading today. The stock rally came after the BSE announced the stock’s inclusion in four of its indices beginning January 6.

Next year, Groww’s shares would be a part of the following indices — BSE Allcap, BSE Large Cap index, BSE Large MidCap and BSE Financial Services.

The fintech major got listed on the bourses on November 12, with the shares of the company listing 14% above their issue price on the BSE. The company’s shares have been on a bull run since listing, zooming as much as 70% from issue price of INR 114 to touch an all-time high of INR 193.91 last month.

With the jump in Groww’s share price today, its market capitalisation zoomed to INR 1.02 Lakh Cr ($11.39 Bn) at 1:20 PM IST. At the time, the stock pared some of its gains and was trading 3.3% up at INR 165.60 on the BSE.

Recently, brokerage firm Jefferies stated its bullish stance on the stock’s future trajectory, giving it a price target (PT) of INR 180 as well as a ‘Buy’ rating.

The brokerage firm’s rationale for the rating stems from Groww’s leadership in the stock broking segment despite it only entering the market in FY21. The firm believes Groww’s several levers to “drive 35% EPS CAGR over FY26-28e.”

Jefferies’ outlook is in line with Groww’s financial performance in recent times. In Q2 FY26, the stock broking platform posted a 12% jump in its consolidated net profit to INR 471.3 Cr from INR 420.2 Cr in the same quarter last year.

Along with Groww, recently listed eyewear giant Lenskart is also set to become a part of BSE Allcap, BSE Large Cap index, BSE Large MidCap and BSE Consumer Discretionary indices. However, Lenskart’s share prices declined as much as 3% during intraday trading today.

Important to highlight that Lenskart’s shares have been on a bull run this week. Gaining over 12% over the last five trading sessions.

Earlier this week, brokerage firm Macquarie initiated coverage for the company’s stock, giving it a ‘Buy’ rating as well as a price target of INR 530 per share.

In its report, Macquarie referred to Lenskart’s integrated supply chain as a key competitive advantage, enabling superior cost efficiency, faster design cycles, and better operational execution compared with peers.