Economic TimesLean R·
PB Fintech loses Rs 22,700 cr from market value as stock crashes 26% after IRDAI’s reform plans. What Citi and Jefferies are warning
Shares of insurance distributor PB Fintech, the parent company of Policybazaar, bore the brunt of IRDAI’s proposed overhaul of the insurance sector, with the stock crashing up to 30% and wiping out more than Rs 26,200 crore from its market capitalisation.PB Fintech shares breached multiple circuit limits, crashing 30% to trade at Rs 1,320.10 apiece on the NSE. The stock is on track to record its worst single-day plunge since listing in November 2021.The sharp downturn has wiped out nearly Rs 26…
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