Policybazaar Parent Continues Gaining Streak Ahead Of Q3 Results

PB Fintech continued its 7-session gaining streak as it jumped over 3% to reach Friday's intraday high of ₹527. 

What Happened: The shares of the company have been on an uptrend since the announcement of the board meeting to approve the Q3 results. The share has surged 21% since the announcement was made on Jan. 30. It dipped over 6% on Feb. 1 when the budget brought disappointing news for the entire sector. It bounced the day after and has since then been on a gaining streak. 

See Also: HDFC Life Shares Recoup From 52-Week Low To Surge 5%: Is Budget-Related Selloff Over?

JM Financial estimates that the company will see over 40% year-over-year growth in insurance premiums and 59% YoY growth in loan disbursals. 

The brokerage firm also stated that it expects Paisabazaar's revenue to grow at 71% YoY and Policybazaar’s revenue to grow at 59%. It estimates that the company's losses will narrow down to ₹150 crore.

The company reported a consolidated loss of ₹186.6 crore on a revenue of ₹633.8 crore in the September quarter. 

The company's earning call is scheduled for 6 pm today, the Q3 results will be coming out before the call. 

Price Action: PB Fintech shares traded 2.23 higher at ₹522.95 in the afternoon hours of trading on Friday.

Read Next: Zomato Shares Tank Over 6% As Blinkit Hurdle Leads To Q3 Net Loss

Market News and Data brought to you by Benzinga APIs

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Posted In: insurance industryLife Insurance StocksloansQ3FY23