Even as the shares of PB Fintech surged over 10% on Friday, they still remain well below the IPO price of ₹980 per share.
What Happened: Shares of the fintech company jumped as its CEO Yashish Dahiya in an interview said that the company looks to book profits of ₹1,000 crore in FY27. The company that narrowed its losses in the December quarter has had a great week at bourses. Shares of the online financial products and services marketplace have jumped over 15% in the last five days.
Since the company released its Q3 print, analysts have remained positive on the stock. Domestic brokerage firm ICICI Securities has a ‘buy‘ rating on the stock with a price target of ₹600. The firm noted that the company’s Q3FY23 performance was good on all counts.
JM Financial also maintained its ‘buy’ rating for the stock with a target price of ₹950. The brokerage firm said that the company has consistently beaten its estimates over the past three quarters and is growing strongly.
Global financial services giant Morgan Stanley has an ‘overweight’ rating on the stock with a price target of ₹705 as it sees the company as a preferred bet in the insurance sector.
CLSA had raised its price target from ₹600 to 660 after the company posted its Q3 results. The brokerage said that the company has a clean path to profitability.
Now, as the stock has hit its six-month high today at ₹586.80, how much will a ₹1,000 investment in the stock on Thursday be worth if the shares go back to IPO price levels?
A ₹1,000 investment today, or to be precise a ₹1,172 investment would fetch you two shares of the fintech company. If the stock goes on to hit the IPO price, your investment would be worth around ₹1,960.
This would translate to an over 67% return on investment. If the stock price hits its 52-week high of ₹827.95, your investment would come up to ₹1,655.90 — a 41% return on investment.
Price Action: PB Fintech shares skyrocketed 10.50% to ₹576.10 at market close on Friday.
Disclaimer: Benzinga India doesn't give financial advice. The above article is for educational-purposes alone.
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