PB Fintech Share Price: Shares of Policybazaar’s parent company PB Fintech fell by 7 percent during trading today on January 13. This decline came after a report by global brokerage firm Morgan Stanley, in which it has reduced both the rating and target price of the company. The brokerage said it has reduced the rating of PB Fintech shares to ‘underweight’, which was earlier ‘equal-weight’. The brokerage said it has downgraded its rating considering lower-than-expected profits and high valuation of the stock.
With this, Morgan Stanley has set a target price of Rs 1,400 for PB Fintech, which is expected to be a decline of about 25 percent from Friday’s closing price. Let us tell you that shares of PB Fintech have already given a strong return of 120 percent in the last one year.
However, it has seen strong profit booking for some time now. PB Fintech shares have fallen by about 12 percent in the last one month. On January 13 at 9:21 am on NSE, shares of PB Fintech were trading at Rs 1,769.95.
Morgan Stanley has described the current valuation of the stock as very high despite the company’s strong performance. The brokerage firm said the market has already factored in the company’s more than 60 per cent increase in new business premium in the first half of FY25. However, the stock is expected to decline due to the possibility of slowing business performance in FY26.
Earlier this month, PB Fintech had entered the healthcare business and announced the formation of a new subsidiary named PB Health Services. After this announcement its shares reached record levels. PB Fintech Group Chairman and CEO Yashish Dahiya had earlier said that the company would make a one-time investment of $100 million to acquire 30 per cent stake in its healthcare subsidiary.
Speaking to a news channel, Dahiya said that in PB Health Services, PB Fintech will be a minority shareholder. “It (PB Health) is not a venture of PB Fintech. PB Fintech is just an investor in this venture. It is, at best, a minority investor,” he said.
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