Shares of PB Fintech, the parent company of insurtech startup Policybazaar, surged over 4.5% in opening trade to INR 1,496.95 on August 7
The stock opened today at INR 1,664.35 on the BSE, up more than 16% from the previous close, marking a new 52-week high
With shares of PB Fintech touching a new 52-week high, the company's market capitalisation zoomed past $8 Bn
Update | August 7, 1:20 PM
Shares of PB Fintech opened at an all-time high of INR 1,664.35 apiece on the BSE today, with its stock rallying over 16% in opening trade, a day after it posted a consolidated profit of INR 60 Cr for the April-June quarter on an operating revenue of INR 1,010.5 Cr.
However, the stock shed some of the gains later in the day and was trading 5.6% higher at INR 1,512.1 apiece at 1:07 PM.
Original Story | August 7, 11:36 AM
Shares of PB Fintech, the parent company of insurtech startup Policybazaar, surged over 4.5% in opening trade to INR 1,496.95 on the BSE today after the company reported strong all-round performance in the April-June quarter.
The stock opened today at INR 1,664.35 on the BSE, up more than 16% from the previous close. This also marked a new 52-week high for the stock.
PB Fintech posted a consolidated net profit of INR 59.98 Cr in the first quarter of the fiscal year 2025 as against a net loss of INR 11.9 Cr in the previous year’s quarter.
Revenue from operations stood at INR 1,010.5 Cr during the quarter under review, up almost 52% from INR 665.6 Cr in the year-ago quarter.
The topline growth came largely on the back of strong growth across business segments.
With shares of PB Fintech touching a new 52-week high, the company’s market capitalisation zoomed past $8 Bn. At the time of writing this article, the stock was trading 3.8% higher at INR 1485.9 with PB Fintech’s m-cap standing at INR 67,775.8 Cr ($8.07 Bn).
Jefferies has maintained its “buy” rating on PB Fintech with a target price of INR 1,500, indicating an upside of around 4.8% from the previous close.
The brokerage highlighted that PB Fintech delivered a 13% beat on core online premium growth, mainly due to increase in new premiums.
Meanwhile, foreign brokerage Morgan Stanley has reiterated its “equal weight” call on PB Fintech, setting a price target of INR 1,125.
Shares of PB Fintech reached an all-time high of INR 1544.15 apiece on the BSE on July 1. The stock has rallied almost 80% in the last one year.
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