India's PB Fintech rebounds 4% as Macquarie sees limited life insurance impact

PB Fintech

28/09/2026 05:23

** Shares of PB Fintech PBFI.NS rise as much as 4% to 1,213 rupees after two sessions of losses 
** Macquarie maintains "Outperform" and 2,210 rupee PT on PB Fintech, calling the stock "bruised, not broken" after Thursday's record 36% plunge
** Brokerage argues that the proposed insurance commission rules should have a sharply divergent impact across segments
** The proposal would reintroduce commission caps across life, health and motor insurance that the Insurance Regulatory and Development Authority of India scrapped in 2023
** Says life insurance should see limited impact, while general insurance could face a 30%-40% cut in commission rates, though management expects mitigation through lower take rates and operating-ratio arrangements
** On Thursday co saw its biggest one-day fall, wiping out more than 314 billion rupees ($3.27 billion) in market capitalisation
** Twenty three analysts have a "buy" rating on avg; median PT is 1,970 rupees - data compiled by LSEG
** YTD, PBFI down ~35%

 (Reporting by Urvi Dugar in Bengaluru)
 ((UrviManoj.Dugar@thomsonreuters.com;))