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policybazaar share worth: Policybazaar shares leap over 11% as buyers purchase the dip

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policybazaar share worth: Policybazaar shares leap over 11% as buyers purchase the dip

2022-11-24 06:44:07

Shares of new-age firm PB Fintech, which runs the insurance coverage aggregator platform Policybazaar, on Thursday jumped as much as 11.5% to day’s excessive of Rs 446.75 on the again of bottom-fishing within the counter.
At 11.24 am, the scrip was buying and selling 10.78% greater at Rs 443.8 per share. PB Fintech shares are nonetheless down over 67% from their 52-week excessive of Rs 1,339. Final week, the inventory additionally hit a 52-week low of Rs 356.2.

Tiger International Administration final week offloaded shares of Policybazaar’s guardian agency PB Fintech for Rs 522 crore by means of open market transactions. In the meantime, WF Asian Reconnaissance Fund acquired 50 lakh shares of the corporate.

As per Trendlyne knowledge, the very best goal for the inventory goes as much as Rs 910, whereas the common estimate of Rs 692 exhibits an upside potential of round 63% from present costs.
Out of the 11 analysts overlaying the inventory, 9 of them have robust purchase rankings whereas one has a purchase and one has a maintain ranking.
Within the September quarter, the corporate had reported a narrowing of web loss to Rs 186.64 crore. Its income from operations surged 105.1% YoY to Rs 573.47 crore.

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(Disclaimer: Suggestions, recommendations, views, and opinions given by the consultants are their very own. These don’t signify the views of Financial Occasions)

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