India's PB Fintech rises after regulatory nod for license upgrade
19/02/2024 04:24
** Insurance aggregator Policybazaar's parent PB Fintech
PBFI.NS up 5.7% at 984 rupees
** India's insurance regulator granted Policybazaar a
license upgrade to Composite Insurance Broker-a broker that
handles direct insurance and reinsurance services- from Direct
Insurance Broker that handles life and non-life insurance
** Stock second-biggest gainer in Nifty mid-cap index
.NIFMDCP100 , which is up 0.5%
** If gains hold, stock set to snap two straight sessions of
losses
** PBFI up ~24% YTD vs nearly 7% rise in the mid-cap index
(Reporting by Rama Venkat in Bengaluru)
((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))
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