GROWW

shares zoom 13% after Jefferies initiates coverage with buy rating; check target

Groww Share Price: Shares of stock broking form Groww today (December 19) zoomed more than 13 per cent in intraday trade after Jefferies initiated coverage with a Buy rating. Groww shares opened in the positive territory at Rs 145.30 on NSE against the previous close of Rs 144.11. The counter extended the opening gains and went on to make a high of Rs 163, up 13.11 per cent. Around 3 PM, Groww shares were trading firmly in the green to quote 11 per cent higher at Rs 159.69. Nearly 17.20 crore shares of the company changed hands around the same time on NSE. On the BSE, Groww shares traded at Rs 159.75 with spurt in volume by more than 3.77 times. A total of 122.80 lakh shares changed hands versus two-week average traded quantity of 32.57 lakh. Shares of Billionbrains Garage Ventures, which is the parent of Groww, are gaining for the previous two consecutive sessions and trading higher than all the key moving averages (5-day, 20-day, 50-day, 100-day and 200-day).