PB Fintech shares climb over 5% amid block deal
PB Fintech, an online insurance aggregator, saw its shares surge by 5.2% to Rs 1,360 in Thursday's trading on the BSE following a block deal. This transaction, valued at around Rs 428 crore, represented a 0.73% stake in the company.
PB Fintech's shares climbed 5.2% to Rs 1,360 in Thursday's trade on following a large involving 33 lakh .Around Rs 428 crore worth of equity shares, representing a 0.73% stake in the company changed hands in this significant transaction. The deal was executed at an average price of Rs 1,297 per share, slightly above the stock's previous close of Rs 1,293.35. The specific buyers and sellers involved in the transaction remain undisclosed.
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Meanwhile, by 12:12 pm, the stock was trading marginally 0.5% lower at Rs 1,287 on BSE. Despite this, the stock has rallied 106% in the last 12 months, compared to a 19% gain in the Sensex.
In Q4 FY24, the firm reported a of Rs 60.19 crore, as against a loss of Rs 9.34 crore reported by the company in the year-ago period. The consolidated for the reporting quarter stood at Rs 1089.57 crore, which was up 25.36% over Rs 869.10 crore reported in the year-ago period.
For FY24, the PAT improved from a loss of Rs 488 crore to a profit of Rs 64 crore.
PB Fintech's total for the quarter was Rs 5,127 crore which is an ARR of Rs 20,000 crore insurance premium led by growth in the new health & life insurance business. The Q4FY24 online insurance premium grew 47% YoY.
Technically, the relative strength index (RSI) of the stock is currently at 54.7. An RSI below 30 is considered oversold, while above 70 is overbought, according to Trendlyne data. Additionally, the MACD is at 7.6, which is above its center line, but below the signal line.
The stock is trading higher than the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day simple moving averages (SMAs).
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Source: Stocks-Markets-Economic Times
