India's PB Fintech rises, ventures into payment aggregator business

PB Fintech

21/03/2024 05:35

** Shares of insurance aggregator Policybazaar's parent PB
Fintech Ltd  PBFI.NS  rise as much as 3.3% to 1,151 rupees
    ** Co approved incorporation of a wholly-owned subsidiary to
carry on business of payment aggregator – domestic or cross
border or both
    ** Stock on track to gain for 2nd consecutive day
    ** Stock trading above its 200-day simple moving avg since
Feb. 2023
    ** More than 370,000 shares traded as of 10:52 a.m. IST, and
over 5.3 mln shares traded this week so far
    ** Mean rating of 15 analysts rating the stock is "buy";
their median PT is 1,010 rupees, 13.9% lower than today's high -
LSEG data
    ** PBFI last up 1.6%; gained ~42.9% YTD, while One 97
Communications Ltd  PAYT.NS  fell ~33.5% 

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))