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Market move▼ Strongly bearish for PB Fintech
PB Fintech plunges 28% to 35%, erasing ₹30,000 crore in market value
The brief
- PB Fintech shares fell 28% to 35% on September 24, depending on the report
- The fall erased ₹30,000 crore in market capitalisation
- Put-option demand surged as traders profited from the plunge
- Sharp volatility directly hits PB Fintech shareholders and raises risk for fintech investors
| Stock | Traded | That day | vs Nifty | Volume | Since |
|---|---|---|---|---|---|
| POLICYBZR | Thu, 24 Sept | −36.0% | −34.4% | 19× | −38.2% · Nifty −1.3% |
✓ Classifier read this as negative; POLICYBZR fell 34.4% against the Nifty on the day it traded.
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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 prompted debate over premiums, mis-selling and distributor payouts, while reports highlighted possible earnings risks for PB Fintech.
Thursday, 24 September
- PB Fintech plunges 28% to 35%, erasing ₹30,000 crore in market value