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- 14th October 2024
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- 5paisa Research Team
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PB Fintech Drops 3% Despite Policybazaar Parent's Entry into Healthcare
The stock of PB Fintech has surged more than 100% in the year to date, thereby doubling investors' capital more than twice over. The stock has gained 130% over the last 12 months, beating the Nifty by a whopping 30%. September 25 closed PB Fintech shares 5.8% lower at ₹1,732 on the NSE.
Brokerage firm, Bernstein, has kept an "outperform" rating on PB Fintech with a target of ₹1,720. The brokerage said in an investor note that investors are banking on PB Fintech for its high growth potential, strong business model, and cash generation. But the forward explorations by the company on backward integration might actually be seen as a significant shift from the traditional capital-light model, which could be the reason behind the recent stock performance. At the same time, the investment amount is also uncertain although Bernstein believes that such an amount could be covered using the cash reserve of $650 million.
PE Investors, Including Peak XV To Likely Offload 11.2% Stake Worth ₹2,034 Crore
Five-Star Business Finance has a firm market capitalization at ₹23,719.83 crore according to BSE. It has 500 BSE500 categories. The 52-week high of Five-Star Business Finance was ₹860 per share and 52-week low of ₹601 apiece.
According to various reports, TPG Asia, Norwest Venture Partners, and Peak XV Partners (previously Sequoia Capital) might have sold some shares of Five Star Business Finance. Until quarter-ending June, TPG Asia held 9.28%, Norwest Venture Partners had 5.16% while Peak XV Partners held 3.77%. According to the data on the exchanges, at the end of June quarter, Peak XV Partners held a 6.25 percent stake in the NBFC.
Indian Market
5paisa Research Team
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