India's PB Fintech sinks on report of regulatory lapses

PB Fintech

06/02/2024 07:40

** Shares of PB Fintech Ltd  PBFI.NS  slide ~6%; set for
their biggest one-day drop in a year, if losses hold
    ** Online insurance aggregator under India tax department
scanner for regulatory lapses, know your customer (KYC)
non-compliances, Moneycontrol reports, citing senior govt
official
    ** Company says no new update on income tax survey into unit
in December
    ** Around 6.8 mln shares traded, 4.5x 30-day avg volume
    ** Fourteen analysts tracking PBFI rate it "buy" on avg -
LSEG data
    ** Stock trims YTD gains to ~15%

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))