India's PB Fintech gains on buying stake in UAE insurance broker

PB Fintech

02/05/2024 09:14

** India's PB Fintech  PBFI.NS  rises 3.5% to 1,308.5
rupees, its highest since early April 
    ** Insurance aggregator to buy 49% stake in UAE-based
insurance broker Genesis group for 3.88 million AED ($1.06
million)
    ** Analysts' median PT on PBFI is 1,020 rupees, less than
current price, though their mean rating is "buy" -LSEG data
    ** Stock has jumped ~65% so far this year
 
 ($1 = 3.6728 UAE dirham)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))