Policybazaar Parent Continues Gaining Streak Ahead Of Q3 Results
Take Stock Of The Week Ahead

Get all the latest Share Market trends and news to set you up for the week ahead.

Congratulations!
You have successfully subscribed.

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

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.

Comments
Loading...
insurance industryLife Insurance StocksloansQ3FY23