PB Fintech Shares Slip 4% During Intraday

SUMMARY

PB Fintech’s stock slipped 3.7% to INR 1687.00 apiece during the intraday trade on the BSE today

The shares were last down about 3% at INR 1700.50 apiece, as of 12:26 PM, compared to its previous close of INR 1751.45 from yesterday (February 5)

To note, the stock has lost about 24% since hitting its all-time high on January 3, 2025

Insurtech major PB Fintech’s stock slipped 3.7% to INR 1687.00 apiece during the intraday trade on the BSE today (February 6).

The shares were last down about 3% at INR 1700.50 apiece, as of 12:26 PM on the BSE, while its market capitalisation currently stands at INR 78,096.70 Cr ($8.92 Bn).

PB Fintech’s stock closed at INR 1751.45 yesterday (February 5).

It is observed that the stock is set on its track in red, after ending the last two sessions in green, if current losses hold.

To note, the stock has lost about 24% since hitting its all-time high on January 3, 2025.

Policybazaar’s parent reported a 92% jump in its consolidated profit after tax (PAT) to INR 71.54 Cr in Q3 FY25 from INR 37.23 Cr in the year-ago quarter. Its operating revenue also zoomed 48% to INR 1,291.62 Cr in the reported quarter from INR 870.89 Cr, in the previous year.

Despite reporting strong third quarter results, the company’s shares have been on a mixed trend on charts.

Notably, the Goods and Services Tax (GST) department conducted a raid on a wholly-owned subsidiary of insurtech major PB Fintech on December 13, where the Gurugram zonal unit of the Directorate General of GST Intelligence (DGGI) conducted a search and inquiry in connection with some of the vendors of one of its subsidiaries, as per its filing from a few weeks ago.

Furthermore, brokerage firm Morgan Stanley also gave an ‘underweight’ rating to PB Fintech, citing lower-than-expected profit emergence and high stock valuations, leading the stock further lower on its downward trend.