Today the share price of PB Fintech Limited, the parent company of the brand like Policybazaar and Paisabazaar, increased by 13% to Rs.789.
A few days ago, research and brokerage firm Ambit had given a buy rating on the shares of PB Fintech, saying that the insurance penetration in India is very low and PB Fintech may benefit from the rising insurance needs.
Apart from this, leading investment banking firm JM Financial had also recently given a buy rating on PB Fintech, adding that Paisabazaar may continue to be a dominant insurance distribution platform in India. And the risk-reward ratio is looking favorable at current price levels.
Apart from this, Munish Varma, a representative of Japanese investor Softbank, has resigned from the board of Policybazaar.