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Buying US stocks via Gift City to get easier as Zerodha, Groww, Angel One and Upstox get nod
Buying US stocks could soon become easier for Indian retail investors after Zerodha, Groww, Angel One and Upstox secured regulatory approvals from GIFT City’s IFSCA. The licences will enable the brokerages to facilitate overseas investing, tapping into growing demand for global equities under the RBI’s Liberalised Remittance Scheme.
BofA Securities initiates coverage on Groww with ‘buy’ rating; shares rally 4% to record high. Here’s what the brokerage said
Groww shares hit a new 52-week high. BofA Securities initiated coverage with a Buy rating. The brokerage sees strong growth potential for Groww. It expects revenue to grow at a 30% CAGR. Profitability is also projected to rise significantly. Groww leads the market with the most active clients. This positive outlook is boosting investor confidence in the retail brokerage platform.
NSE active client base shrinks 7% in FY26: What changed across brokers
NSE active retail clients fell 7% in FY26 to 4.57 crore, Groww gained share as Zerodha, Angel One and Upstox slipped, traditional brokers like ICICI and SBI Securities improved.