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.
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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.
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Disclaimer: Benzinga India doesn't give financial advice. The above article is for educational-purposes alone.
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