 "Policybazaar extends gain by another 11.6%, closes at Rs 1,342")
Shares of PB Fintech, the company that operates online insurance marketplace Policybazaar, rose another 11.6 per cent to close at Rs 1,342 on Tuesday. A day earlier, the stock had climbed 23 per cent during its stock market debut. The stock is now up 37 per cent over its IPO price of Rs 980 and the company is valued at Rs 60,338 crore. JM Financial initiated coverage on the stock with a ‘hold’ rating and a price target of Rs 1,270 but sees “significant upside risks in the medium-term.” “We value PB Fintech as of March 2030 at 8 times EV/Revenue and 35x EV/EBITDA multiple to ideally factor-in long term growth as well as dilute the impact of near-term one-offs. We then discount this valuation to December 2022 to derive our target price of Rs 1,270,” it said.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%