Groww shares have nearly doubled from their IPO price; Here's the next major trigger

Shares of Billionbrains Garage Ventures Ltd., parent company of the trading platform Groww, are trading with gains of another 7% on Tuesday, November 18, extending their winning run to all five days of its trading history.

With this move, shares of Groww have now gained nearly 90% from their issue price of ₹100 per share. The stock currently commands a market capitalisation of ₹1.1 lakh crore, which is higher than most of its capital market peers.

Monday's trading session had seen 46.6 crore shares of Groww change hands, of which 6.2 crore shares were marked for delivery.

As many as 25 crore shares of Groww have already changed hands in the first two hours of Tuesday's trading session. The total traded value is now close to ₹4,700 crore. 23% of the total traded shares are marked for delivery, as per data available on NSE.

The next major trigger for Groww will emerge on Friday, as the company has informed the exchanges that it will be considering their quarterly results on November 21. This will be the first quarterly result report the company will be disclosing after listing.

"I've been positive on Groww. I think in one of the earlier interactions I did mention that it is a stock worth buying. Even when it listed at around ₹120-130 levels it was worth buying. It's moved up a bit too fast, so not today but if opportunity comes a little bit of correction, Groww is definitely worth buying. This is a company which is going to get into a different orbit," Sudip Bandopadhyay, Market Expert told CNBC-TV18.

"Apart from that, forays into fund distribution, wealth and other things which are are adjacent will also give Groww a significant opportunity for growth and improving the profitability and returns. So, I think we are probably seeing just the beginning of the growth phase of growth. So yes, it has moved up pretty fast, so a bit of pause is probably warranted. But from a slightly longer-term perspective, it definitely does look good even now," he added.

Shares of Billionbrains Garage Ventures are trading 7% higher on Tuesday at ₹186.