Jefferies Upgrades Groww Amid SEBI Changes to Derivatives Settlement
1 report, 1 independent
Updated Fri 00:00
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What happened
Jefferies upgraded Groww, citing new regulations from Securities and Exchange Board of India regarding the Closing Auction Session (CAS). The regulator changed the methodology for computing the settlement price of index derivatives on expiry day to the volume-weighted average price (VWAP), effective December 7, 2026. Shares of Groww's parent company, Billionbrains Garage Ventures Ltd, finished around 1.50% higher on Friday.
From livemint.com
Why it matters
Experts believe the shift to VWAP may reduce volatility during the Closing Auction Session. Jefferies India stated that this change could benefit brokers whose orders remain below pre-CAS levels, leading the bank to issue a 'BUY Groww' recommendation.
From livemint.com
Who's involved
- GrowwIndian fintech company receiving the upgrade and regulatory changes
- Securities and Exchange Board of IndiaIndian capital market regulator implementing new CAS rules