The Economic Times

Bernstein cuts PB Fintech share price target by 53%. More pressure after Rs 37,000 m-cap rout?

PB Fintech shares have plunged 42% in four sessions, wiping out Rs 37,000 crore in market value, following IRDAIs proposed reforms to curb dark patterns and rationalise insurance commissions. Bernstein, Jefferies and Morgan Stanley have flagged potential pressure on earnings, distribution economics and valuations, with brokerages highlighting risks to health insurance and the POSP business amid regulatory uncertainty.