Groww shares rebound 4% after Thursday's slump. Why are Jefferies, Motilal bullish on the stock?

Groww reported a strong Q1 with revenue up 66 percent year-on-year to Rs 1,504 crore and EBITDA surging 101 percent to Rs 971 crore, while net profit grew 7 percent to Rs 735 crore. Brokerages Jefferies, JM Financial and Motilal Oswal maintained or upgraded to Buy with a target price of Rs 250, implying around 21 percent upside, citing market share gains, improving operating leverage and a 30 percent expected three-year EPS CAGR.