PB Fintech Share Price 📈
1. PB Fintech, a leading financial technology company, witnessed a significant surge in its share price. The stock climbed by 14.6% to reach a 52-week high of ₹1,044.90 after the release of its December quarter results.
2. The company’s shares surpassed its IPO price of ₹980 for the first time since its listing in November 2021, marking a milestone in its journey as a publicly traded company.
3. PB Fintech reported a profit of ₹37 crores in the December quarter, bouncing back from a loss of ₹21.1 crores in the previous quarter. This impressive turnaround showcases the company’s strong performance and growth potential.
4. The company’s operating revenue also witnessed a significant increase, rising by 43% to ₹871 crores in the December quarter. Additionally, its EBITDA margin improved from -5% to -4%, indicating better cost management and operational efficiency.
5. PB Fintech’s cash position also strengthened, with its cash and cash equivalents increasing to ₹5,150 crores on an annual basis. Furthermore, its core online revenue grew by 39% to ₹593 crores, reflecting the company’s focus on digital innovation and expansion.
6. In terms of insurance premiums, Policybazaar, PB Fintech’s flagship brand, recorded a total premium of ₹4,261 crores, with an annual run rate of ₹17,000 crores. This highlights the company’s strong presence in the insurance market and its ability to attract customers.
7. As of Thursday, 1st February 2024, PB Fintech’s share price was trading at ₹999 with a slight decline of 0.30%. This minor dip provides investors with an opportunity to enter the market at a relatively lower price.
Expert Opinions ✍️
★Brokerage firm Morgan Stanley maintains an overweight rating on PB Fintech shares and sets a target price of ₹965. This indicates their optimism regarding the stock’s future performance.
★Macquarie, on the other hand, has an underperform rating on the stock, with a target price of ₹610. This suggests a more cautious outlook on PB Fintech’s growth prospects.
★Kotak Institutional Equities analysts have given a ‘Neutral’ rating to the stock, with a target price of ₹950 per share. This reflects their balanced view on PB Fintech’s potential returns.
In Short, PB Fintech’s share price has experienced a significant boost, reaching a 52-week high after the release of its impressive quarterly results. With positive expert opinions and the company’s strong financial performance, investors may find PB Fintech’s stock an attractive investment opportunity.
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
