PB Fintech Shares Rally 3% To Hit Fresh All-Time High At INR 2,208

Shares of PB Fintech, the parent company of Policybazaar, extended their gains for the fourth consecutive day and jumped over 3% to hit a new all-time high of INR 2,208 apiece on the BSE today (December 9).

However, the stock shed all of its gains later and was trading 0.22% lower at INR 2,139 at 3:28 PM. The downturn in PB Fintech’s share price coincided with the decline in the broader equities market.

Notably, the stock has ended in the green territory in 9 out of the last 11 trading sessions. On a year-to-date basis, it has jumped almost 167%, significantly outperforming benchmark equity index BSE Sensex, which has climbed nearly 13% during the period.

At the time of writing, the fintech unicorn’s market capitalisation stood at INR 97,882.50 Cr (around $11.55 Bn). 

The bull run in the stock has been helped by the company’s strong financial performance. PB Fintech posted a consolidated net profit of INR 50.98 Cr in the September quarter of the financial year 2024-25 against a loss of INR 21.11 Cr in the year-ago period. 

Operating revenue jumped more than 43% year-on-year to INR 1,167.2 Cr during the quarter under review. 

Last week, the insurtech major said it received approval from its board to set up a new subsidiary to offer healthcare services. In September, group chairman and CEO Yashish Dahiya said that PB Fintech would make a one-time investment of $100 Mn to acquire a 30% stake in a new healthcare company.

However, brokerage firm Bernstein expressed caution over the company’s healthcare foray, noting it would be a sharp departure from the company’s current asset-light model to a more asset-heavy space.

The stock came under heavy selling pressure following reports about PB Fintech’s healthcare plans.

Despite the volatility in the stock, Bernstein maintained its ‘outperform’ rating, saying the healthcare foray could further strengthen PB Fintech’s position on the Indian health insurance map.