Shares of online brokerage platform Groww remain under pressure for the second straight trading session after the finance minister Nirmala Sitharaman proposed hiking securities transaction tax (STT) on F&O derivatives during her ninth Budget speech yesterday. The company’s shares slumped as much as 6.6% during intraday trading on the BSE today to touch a low of INR 157. As of now, the stock recovered slightly to INR 159.95, marking a 4.8% decline from last close. Notably, the company’s market cap dropped below the INR 1 Lakh Cr mark after shares plunged as much as 14% to hit an intraday low of INR 152.9 on Sunday. Groww is set to end its second straight session of loss if current losses hold, breaking the momentum it had gained over the last eight sessions gaining value, until January 30. In her Union Budget 2026 speech, the FM had proposed raising the STT on Futures to 0.05% from the present 0.02%, while options premium and exercise of options are both proposed to attract an STT of 0.15%, up from the present rate of 0.1% and 0.125% respectively. These changes will be applicable for trades and investments on and after April 1, 2026. As per… Read MoreInc42 Media
