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Market move▼ Strongly bearish for PB Fintech
PB Fintech wipes out five years of gains in six sessions, slips below IPO price
The brief
- PB Fintech shares wiped out five years of gains in six sessions
- The stock slipped below its IPO price
- The sharp fall weighs on PB Fintech shareholders and sentiment toward listed Indian fintech companies
- At 52-week lows: RIL, ONGC, M&M, Airtel, PB Fintech, 69 other BSE500 stocks
- Mid, Smallcaps In Deep Red: PB Fintech, MRPL, Chennai Petro, IFCI, Others Lead Broader Market Pullback
- PB Fintech, Wipro among 8 stocks that hit 52-week low and slipped up to 45% in a month
- Kotak, BoB, PB Fintech: Macquarie Upgrades Nine Stocks, Downgrades One — Check Full List, Target Prices
- Macquarie upgrades 6 financial stocks with 22% upside; slashes PB Fintech target by 41%
IRDAI’s proposed insurance distribution reforms
IRDAI proposed phased cuts to insurers’ expense limits, commission caps and a ban on compulsory insurance bundling with loans. The proposals have weighed on insurance-related stocks; PB Fintech fell 42.69% in four sessions, while stakeholders raised concerns about the impact on distributors and insurers.
Thursday, 1 October
- PB Fintech wipes out five years of gains in six sessions, slips below IPO price