This stock fell 74%, the stock has come down from ₹ 1470 to Rs 385
The stock has now broken from its high by Rs 1,084 i.e. 73.74 percent. According to experts, this stock may fall further. A low target of Rs 300-310 can be seen on this.
Policy Bazaar (PB Fintech) Share: Shares of policy market operator PB Fintech have fallen 74 percent from their all-time high last November. The stock of Policy Bazaar has come down to Rs 385 which was at an all-time high of Rs 1470 on 17 November 2021. That is, the stock lost Rs 1,084 or 73.74 percent during this period. According to experts, this stock may fall further. A low target of Rs 300-310 can be seen on this.
The share is 66% below the listing price.
Let us tell you that the policy market share is trading 66.43 percent below the listing price of Rs 1,150. The stock had made its debut on 15 November 2021 at a premium of 17 percent to the IPO issue price of Rs 980. Policy market shares have fallen by nearly 60% in 2022 and 22.73 percent in the past one month. The market cap of India’s largest online insurance company fell to Rs 17,258 crore.
52 is up 3% from the week’s low Share
Policy Market shares are trading below 5 days, 20 days, 50 days, 100 days, and 200-day moving averages. However, the shares of Policy Bazar were trading with a gain of about 3 percent against the 52-week low of Rs 373.10. The stock reached its new low on October 21, 2022.
What do experts say?
Abhijeet at Tips2trade said that despite being a strong platform-based business, the share price of Policybazaar has also declined. Its stock is looking weak and a fall of up to Rs 340 is possible. Investors should buy only on a daily close above Rs 405.