New Delhi, Dec. 22 -- Groww share price jumped 6.5% on Dalal Street in Monday's trade after foreign brokerage Jefferies initiated coverage on the stock, backing the Bengaluru-based financial services firm's growth prospects across its broking business, new initiatives and margin expansion.

Jefferies has set a target price of Rs.180, which implies an upside of nearly 12% from the stock's closing price on Friday. The brokerage said Groww has multiple growth levers that could support an earnings per share (EPS) CAGR of 35% over the FY26-FY28 period.

The stock has climbed sharply almost 72% since listing and is now trading close to double its issue price of Rs.100. Today is the third straight session of gains for the stock. It rose almost 1...