‘Gen Z to drive India’s next Internet growth wave’: Why JPMorgan picked PhysicsWallah, Meesho, Groww shares over others
PhysicsWallah is in focus.
· LiveMint Markets
JPMorgan says platforms that attract Gen Z could benefit from a decade of growth in the consumer internet. Food delivery, recruitment and edtech stand out for younger users, while real estate and online travel skew older. Its preferred Gen Z exposure picks are PhysicsWallah, Meesho and Groww.
The analysis
Against that, the stock is +1.3% on the day at ₹128.31, and has returned -3.8% over three months. It sits 17% below its 52-week high. The consumer & retail sector has moved -6.2% over the same period, so PhysicsWallah is running 2.5 points ahead of its peers.
For PhysicsWallah, the question is how much of this is already reflected in the price and how much re-rates the consumer & retail peer set alongside it.
Market context
- The 3 companies named span 2 sectors, so these are separate company stories rather than one sector-wide move.
- On the day, 2 of 3 are higher: Meesho leads at +4.0% and Groww trails at -0.6%.
- Over three months: PhysicsWallah -3.8% against Consumer & Retail -6.2% (2.5 points ahead); Meesho +24.6% against Consumer & Retail -6.2% (30.8 points ahead); Groww +16.6% against Capital Markets +2.8% (13.8 points ahead).
- Trading well above normal today: Meesho at 2.2 times its 20-day average volume.
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| PhysicsWallahPWL · Consumer & Retail | ₹128.31 | +1.3% | -11.9% | -3.8% | -17.3% | 0.6× | — |
| MeeshoMEESHO · Consumer & Retail | ₹248.01 | +4.0% | +2.5% | +24.6% | +3.0% | 2.2× | — |
| GrowwGROWW · Capital Markets | ₹220.71 | -0.6% | +15.4% | +16.6% | -1.4% | 0.9× | — |
Consumer & Retail
1M +0.1% · 3M -6.2%
PhysicsWallah, Meesho
Capital Markets
1M +6.3% · 3M +2.8%
Groww
Real Estate
1M +5.6% · 3M -5.9%
Consumer Durables
1M +2.2% · 3M -7.1%
Prices as of 11 Nov 2026, 15:29 IST. Sector moves are the average of the stocks we track in each sector.
In this story
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