Mumbai, Dec. 22 -- The stock has risen 17.31% in three consecutive sessions.

Meanwhile, a foreign broker has initiated coverage on Groww with a Buy rating and a target price of Rs 180. The brokerage said Groww is following a Robinhood like strategy that could drive around 35% CAGR in earnings over the next three years.

The broker highlighted that Groww has become India's largest retail broker by active clients despite entering broking only in FY21. It attributed this to a mutual fund led acquisition funnel, a simple platform and strong word of mouth.

The brokerage expects revenue to grow at a 29% CAGR over FY26-28, driven by new products such as margin trading, wealth management, commodities and bonds. It said newer businesses could co...