PB Fintech gains on making further investment in Policybazaar Insurance Brokers
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PB Fintech is currently trading at Rs. 655.15, up by 2.95 points or 0.45% from its previous closing of Rs. 652.20 on the BSE.
The scrip opened at Rs. 674.00 and has touched a high and low of Rs. 674.00 and Rs. 645.45 respectively. So far 20533 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 1470.00 on 17-Nov-2021 and a 52 week low of Rs. 618.05 on 24-Feb-2022.
Last one week high and low of the scrip stood at Rs. 767.50 and Rs. 645.45 respectively. The current market cap of the company is Rs. 29401.78 crore.
The Institutions and Non-Institutions holding in the company stood at 26.89% and 73.11% respectively.
PB Fintech made further investment of around Rs 450 crore in Policybazaar Insurance Brokers, a wholly owned subsidiary of the company. As part of company’s investments, the present investment allows company to strengthen the financial health of its mentioned wholly-owned subsidiary to meet its general operating expenses and enhancing brand awareness, office presence and strategic initiatives. With the aforesaid investment, the entire amount of Rs 700 crore as approved by the Board and communicated earlier, stands completed.
PB Fintech is India's leading online platform for insurance and lending products. The company provides convenient access to insurance, credit, and other financial products and aims to create awareness in India about the financial impact of death, disease, and damage.
