New Delhi, Nov. 24 -- Billionbrains Garage Ventures Ltd (Groww) stock has been on a roller coaster ride since its listing on 12 November. The stock listed at Rs.112 on NSE vis-a-vis the issue price of Rs.100. It rallied until 18 November, when it closed at Rs.189, only to tumble for two consecutive days after that to Rs.157. The stock is up marginally since its results were announced during early trading hours on Friday.

The main question is whether the stock's volatile movement is in sync with the fundamentals. Shareholding data from NSE shows Groww has 6.17 billion total outstanding shares, but only 440 million or about 7% are available for trading (the free float). A low free float leads to high volatility in a stock's price, and the ...