Overview
- The target implies roughly 26% upside from current levels, according to the brokerage.
- Jefferies forecasts 35% EPS CAGR over FY26–FY28 with about 19% growth in the broking business.
- The note expects fivefold growth in new initiatives such as margin trading and wealth management, supporting about 700-basis-point margin expansion.
- Jefferies says Groww has overtaken Zerodha to become India’s largest stockbroker.
- The brokerage frames Groww’s trajectory as akin to Robinhood’s app-driven rise.