New Delhi, April 15 -- Shares of Billionbrains Garage Ventures, parent company of discount broking firm Groww, rallied over 7% to a record high of Rs.208.36 apiece in Wednesday's trading session after global brokerage firm Bank of America Securities (BoFA) initiated coverage on the counter.

Groww share price opened at Rs.201.01 per share today as compared to the previous close of Rs.194.71 on Monday.

BofA has initiated coverage on Groww with a 'Buy' recommendation and set a price target of Rs.235 per share, indicating a potential upside of 21% from its last closing level, according to a report by CNBC TV18.

The brokerage noted that Groww is well placed to benefit from India's strong retail investing momentum and expects the company to ...