The transaction, worth Rs 428 crore, represented a 0.73% stake in the company. It was executed at an average price of Rs 1,297 per share, slightly above the previous close of Rs 1,293.35. The buyers and sellers in this deal have not been disclosed.
By 12:12 pm, the stock was trading 0.5% lower at Rs 1,287 on BSE. Despite this dip, the stock has surged 106% in the last 12 months, compared to a 19% rise in the Sensex.
In Q4 FY24, PB Fintech reported a net profit of Rs 60.19 crore, reversing a loss of Rs 9.34 crore from the same period last year. The company’s revenue for the quarter was Rs 1089.57 crore, up 25.36% from Rs 869.10 crore a year ago.
For FY24, PB Fintech’s profit after tax improved to Rs 64 crore from a loss of Rs 488 crore. The company’s total insurance premium for the quarter was Rs 5,127 crore, with an annual run rate of Rs 20,000 crore, driven by growth in the new health and life insurance business. The online insurance premium for Q4 FY24 grew 47% year-on-year.
Technically, the stock’s relative strength index (RSI) is at 54.7, indicating it’s neither overbought nor oversold. The moving average convergence divergence (MACD) is at 7.6, above its center line but below the signal line.
The stock is trading higher than its 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day simple moving averages (SMAs).
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
