In November last year, Policybazaar’s parent company PB Fintech was listed on the Indian stock market. On the day of listing itself, the company made investors who took IPO rich. However, in this year i.e. 2022, there has been a huge sell-off in the stock of PB Fintech. Now experts have expressed hope of recovery once again. Please note that this is a fintech firm.
Target Price: Brokerage and research firm ICICI Securities has given buy rating to the stock of PB Fintech. Along with this, the target price has been kept at Rs 940. Presently the stock price is Rs 795. If we look at this point of view, there will be a profit of Rs 145 per share on investment now.
According to brokerages, the scope of insurance in India is increasing. Operating leverage, strong balance sheet and established brands among the Indian population are its positives. This will help the company generate strong free cashflow as it expects the company’s cost-to-income ratio to remain stable going forward.
All Time High Price: The all-time high price of the stock is Rs 1,470 as on November 17. In this context, the share price is at a loss of 40 per cent. Let us inform that the IPO of PB Fintech was open for subscription on 1-3 November 2021. The price band of the IPO was Rs 940-980.
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At the same time, on February 24, the share price was Rs 618.05, which is an all-time low level. In this context, there has been a recovery in the share price. Talking about the market capital, it is Rs 35,780 crore.