Paisabazaar Shares Remain Resilient After Analyst's 'Overweight' Call
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.

Shares of PB Fintech – which owns Paisabazaar and Policybazaar – remained resilient at the bourses even as the markets dipped sharply at open on Monday.

What Happened: Morgan Stanley maintained its ‘overweight’ rating on the stock with a price target of ₹705- a close to 20% upside from the stock’s last closing price of ₹590.40. The global analyst firm said that the fintech’s increasing franchise strength will help keep market spending lower. The firm also highlighted that the company reiterated its target of achieving ₹1,000 crore profitability by FY2027 and breakeven adjusted EBITDA in Q4FY23.

See Also: Zomato Shares Shot 3.5% Today: What’s Behind The Surge?

The NBFC reported a loss of ₹87 crore in the December quarter, but revenue saw a 66% jump year-over-year to ₹610 crore. Domestic brokerage firm ICICI Securities maintained its ‘buy’ rating on the stock with a price target of ₹600 after the Q3 results. Shares of the company have jumped closed to 20% in the past month but still, remain much lower than its IPO price of ₹980.

Price Action: At the time of writing, shares of PB Fintech were up 0.09% to trade at ₹590.95.

Read Next: ₹1,000 Invested In PolicyBazaar Today Will Be Worth This Much If Shares Return To IPO Price

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...
credit cardFintechfintech companiesinsurance industryloansPB FintechPolicybazaar