# Citigroup initiated its coverage of Pine Labs with a buy rating and a target price of Rs 235.

*fintech · news · 2026-04-16 · Times of India*

## Key points

- Citigroup initiated Pine Labs coverage with a buy rating, citing sustained monetization improvement trajectory.
- Jefferies downgraded Indus Towers to underperform, citing site-renewal risks impacting revenue in 2026–2027.
- Groww is expected to achieve 30% revenue CAGR over FY26–FY28, with best-in-class profitability.
- RBI returned Ujjivan SFB’s universal bank license application, citing inadequate loan portfolio diversification.
- Jindal Saw’s order book is at an all-time high, with rising exports reducing domestic capex dependence.

**Companies:** Citigroup, Jindal Saw, Indus Towers, Ujjivan SFB, Pine Labs, Groww
**Countries:** India

[Read the full story on Times of India](https://timesofindia.indiatimes.com/business/india-business/pine-labs-groww-more-top-stocks-to-watch-on-april-16-2026/articleshow/130296305.cms)

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