Overview
- Shares locked at Rs 169.89–169.94 in Wednesday trade, the first major pullback since debut, valuing the company near Rs 1.04–1.05 lakh crore after peaking around Rs 1.16 lakh crore.
- Exchanges tightened the stock’s price band to 10% from 20% as the rally cooled following a near-90% jump over the Rs 100 issue price.
- Over 30 lakh shares shifted into the NSE auction window on Tuesday due to delivery failures tied to short selling, with a low free float magnifying volatility.
- Turnover stayed heavy with more than 46 crore shares traded on Tuesday but only 8.24 crore marked for delivery, indicating intense intraday churn.
- Groww scheduled a November 21 board meeting and earnings call to consider quarterly results, as multiple analysts caution that valuations look stretched and suggest partial profit-taking.