UTI AMC, Nuvama Wealth Management, 360 ONE WAM, KFin Technologies, Angel One and MCX dropped 3 per cent each in intra-day trade on Thursday.
Billionbrains Garage Ventures Ltd, the parent company of the digital investment platform Groww, on Wednesday reported a 94.3 per cent year-on-year increase in consolidated Profit After Tax (PAT) to Rs 735.04 crore for the quarter ended June 30. Bengaluru-headquartered company had earned a PAT of Rs 378.35 crore in the corresponding period last year. The company's revenue from operations rose 66 per cent to Rs 1,501.42 crore during the April-June quarter of FY27 from Rs 904.40 crore a year earlier, according to a stock exchange filing. On a sequential basis, revenue from operations remained largely flat at Rs 1,501.42 crore, compared with Rs 1,505.37 crore in the January-March quarter of FY26. PAT, however, increased from Rs 686.36 crore in the preceding quarter. Total expenses increased to Rs 555.68 crore from Rs 444.67 crore in the year-ago period. Shares of the company were trading 3.7 per cent higher at Rs 211.4 on the BSE in the afternoon trade.
Groww share price target: Rajesh Palviya said that looking at the business volumes and traction on its platform, the stock has potential to extend the rally from current levels and move towards ₹260
Q1FY27 company results: Firms including HDFC Life Insurance Company, ICICI Lombard, Jana Small Finance, HDB Financial Services are also set to release their earnings today
Stocks to watch today: Indian stock market was slated to open on a positive note. On stock-specific front, IT stocks will be in focus after IBM's weak outlook.
The buying on the counter came after on Thursday, Goldman Sachs bought more than 1.13 crore shares of Groww, from venture capital firm Friale for ₹210 crore
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Groww block deal: According to Bloomberg data, 319.3 million shares or 5.1 per cent of equity were traded in multiple block deals
Stocks to watch today: Groww, Indian Hotels, Tata Power, JSW Energy, Persistent Systems, HFCL, Bharat Forge, HG Infra Engineering, among others, will remain in focus today.
While describing midcaps as a stock-specific universe, analysts attributed the outperformance to healthy valuation normalisation in the segment over the past few quarters
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Groww reported a revenue from operations of ₹1,505.37 crore, up 87.93 per cent from ₹801.01 crore in the year-ago period
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BofA sees scope for re-rating as Groww drives further margin expansion, and establishes a credible present in wealth management
On the National Stock Exchange (NSE), Nifty Capital Markets gained 3.9 per cent, logging an intra-day high at 5,144.25
Groww share price soared 9 per cent to hit a new all-time high at ₹213 in Wednesday's trade, and the stock has surged 42 per cent thus far in April.
Groww stock was quoting 3.25 per cent higher at ₹192.71 on the back of heavy trading volumes
Capital market stocks like BSE, HDFC AMC, and Nippon AMC surged up to 11% as US-Iran ceasefire boosted risk appetite and lifted global market sentiment.
Groww share price fell as much as 4.87 per cent to ₹164.5 per share on the National Stock Exchange (NSE)