Billionbrains Garage Ventures, which operates Groww, has seen its stock rise over 31% so far in 2026, while Angel One shares are up about 24% in the same period. Both companies rank among India’s largest listed stockbrokers.
Groww vs Angel One: Client base
Groww is the biggest stockbroker in India in terms of active clients, with a 28% market share. It is followed by Zerodha and Angel One. Groww added about 2.66 lakh active clients in February this year, accounting for the majority of the user additions on NSE. Angel One, meanwhile, saw its investor base rise by nearly 10,000 during the month.
Why Angel One may be a better buy now
Despite Groww’s strong market share, Angel One may be the better buy at this point, said Harshal Dasani, Business Head at INVasset PMS. “It offers a stronger balance of scale, earnings visibility and operating depth, with Q3 FY26 gross revenue of Rs 1,338 crore, PAT of Rs 270 crore, a client base of 35.7 million and assets under custody of Rs 1.5 trillion,” he said.
The analyst added that Angel One’s 20.4% retail equity turnover market share also shows that the franchise still holds relevance in a fiercely competitive broking market. “For investors entering after a sharp run-up, that combination makes the risk-reward relatively more favourable,” he explained.
On the other hand, Groww remains a very strong growth story, with Q3 FY26 revenue from operations at Rs 1,216 crore, profit at Rs 547 crore, 20.4 million transacting users, and Rs 3 trillion in customer assets, the analyst highlighted. “But that strength is already commanding a richer premium and leaves less room for disappointment. So while Groww suits aggressive investors chasing growth, Angel One appears the cleaner and more balanced bet now,” he added.
Groww share price vs Angel One share price
Groww shares have gained more than 9% in one week, and nearly 29% in one month. The stock is up nearly 31% in 2026 so far, and around 37% since its listing last year. The company’s market capitalisation currently stands at Rs 1.28 lakh crore.
BofA Securities recently initiated coverage on Groww shares with a ‘Buy’ rating and a target price of Rs 235. The Wall Street firm said Billionbrains Garage Ventures is well placed to benefit from India’s growing retail investor base. It expects the company to deliver revenue growth at a CAGR of 30% over FY26–FY28. The initiation comes after the stock has already gained 31% in calendar year 2026.
Angel One shares meanwhile gained around 4% in one week and more than 35% in one month. The stock is up around 24% in 2026 so far, and around 807% in five years. The company’s market capitalisation currently stands at Rs 26,681 crore.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
