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Indian equities have turned sharply volatile, with the Sensex and BSE 500 both falling about 4.5% over the past month. Yet the damage has been far more severe in a cluster of BSE 500 laggards, where names such as PB Fintech, IFCI and New India Assurance have posted declines ranging from 16% to 44%.
PB Fintech shares have fallen 50% from their all-time high and slipped below the company’s 2021 IPO price of Rs 980 after a six-day rout triggered by proposed IRDAI curbs on insurance distribution. The selloff has intensified as brokerages including Bernstein and Jefferies cut target prices, warning that earnings momentum could come under pressure if regulatory changes reshape the economics of online insurance selling.
Eight BSE 100 stocks, including PB Fintech, Wipro and several consumer names, fell to fresh 52-week lows on a weak trading session that left the Sensex down 49 points at 72,480. The declines underscore continued pressure on select large-cap and mid-cap names, with some counters extending monthly losses to as much as 45%.
Eight BSE 100 stocks fell to fresh 52-week lows on Wednesday even as the Sensex declined only modestly, underscoring persistent pressure on select large-cap names. PB Fintech, Havells India, Wipro, Britannia Industries, Tata Consumer Products, Godrej Consumer Products, Hindustan Unilever and ONGC were among the stocks that marked new annual lows, with some names down as much as 45% in a month.
India’s online insurance intermediaries are coming under pressure as health-cover shoppers increasingly compare prices, scrutinise exclusions and expect faster, more transparent buying journeys. For platforms such as Policybazaar and Turtlemint, the shift is sharpening competition at a time when regulatory oversight and insurer-led distribution are already squeezing commissions and conversion rates.
A government-appointed demography panel has asked states and Union territories for religion-wise data spanning 15 years across births, vehicle registrations, school enrolment, property transactions and electoral records, triggering concern among officials who say such information is not routinely maintained on religious lines. The request has also sought district-level details of religious structures and unexplained spikes in Aadhaar, voter ID and ration card registrations, raising questions about data availability, methodology and administrative feasibility.
PB Fintech shares have plunged 42% in four trading sessions, wiping out about Rs 37,000 crore in market value after the insurance regulator proposed reforms aimed at distribution practices and dark patterns. While Jefferies cut its target price, Bernstein maintained an Outperform view and sees as much as 100% upside from current levels, underscoring a sharp divide over the stock’s medium-term outlook.
PB Fintech, the parent of Policybazaar and Paisabazaar, has lost about Rs 37,000 crore in market value over four trading sessions after the insurance regulator proposed reforms that could reshape distribution economics and curb dark patterns. The selloff has been severe, but brokerages remain divided on the damage: Jefferies has cut its target, while Bernstein has kept an Outperform rating and sees as much as 100% upside from current levels.
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