POLICYBZR

** India's PB Fintech PBFI.NS rises 3.5% to 1,402.25 rupees, on course for second straight session of gains

** Kotak upgrades rating to "add" from "reduce", but lowers PT to 1,525 rupees from 1,600 earlier

** Highlights that PBFI corrected 36% in last three months, but there is no change to high-growth story

** "Remain assertive on PB Fintech's ability to deliver 1.8x-2.0x industry-level growth, with improving leverage driving strong profitability," says Kotak

** Analysts' avg rating on stock "hold"; median PT at 1,604 rupees, as per data compiled by LSEG

** Stock trims YTD losses to 33.5%

(Reporting by Vivek Kumar M)

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** India's PB Fintech PBFI.NS sheds 5.3% to 1,331.85 rupees

** More than 747,000 shares of the non-bank lender traded in four block deals at a discount of 3%-4%, per exchange data

** PBFI also set for sixth straight weekly decline, falling ~5%, its longest such streak since January 2022

** Avg rating of 17 analysts on stock at "hold"; median PT is 1,604 rupees - data compiled by LSEG

** Stock down 37.2% YTD

(Reporting by Kashish Tandon in Bengaluru)

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March 11 (Reuters) - PB Fintech Ltd PBFI.NS:

• PB FINTECH LTD - APPROVES INVESTMENT OF UP TO 6.96 BILLION RUPEES IN PB HEALTHCARE

• PB FINTECH LTD - INVESTMENT TO BE MADE VIA EQUITY SHARES OR CONVERTIBLE PREFERENCE SHARES

• PB FINTECH LTD - TO HOLD UP TO 33.63% OF PB HEALTHCARE POST INVESTMENT

Source text: ID:nBSEc8fS3g

Further company coverage: PBFI.NS

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Feb 27 (Reuters) - PB Fintech Ltd PBFI.NS:

• PB FINTECH LTD - SANTOSH AGARWAL APPOINTED AS CEO OF PAISABAZAAR

• PB FINTECH LTD - NEERAJ TRIPATHI APPOINTED AS CFO OF PAISABAZAAR

• PB FINTECH LTD - VIVEK AUDICHYA APPOINTED AS CFO OF POLICYBAZAAR

Source text: ID:nBSE7Tc5Hz

Further company coverage: PBFI.NS

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Jan 31 (Reuters) - PB Fintech Ltd PBFI.NS:

• MADE FURTHER INVESTMENT OF AED 15 MILLION IN PB FINTECH FZ-LLC

Source text: ID:nnAPN2LW26K

Further company coverage: PBFI.NS

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Jan 30 (Reuters) - India's PB Fintech PBFI.NS reported a sharp jump in third-quarter profit on Thursday, aided by rising sales of insurance policies.

The company's consolidated net profit rose 88% from a year earlier to 715.4 million rupees ($8.26 million) for the three months ended Dec. 31.

Analysts said PB Fintech continues to benefit from increasing demand in India's largely untapped insurance policy aggregator sector, aided by improving financial awareness and income levels.

The company operates online insurance aggregator Policybazaar and credit marketplace Paisabazaar.

PB Fintech's revenue from operations rose 48% to 12.92 billion rupees, led by a 62% jump in insurance broker services, its largest segment.

The company's insurance premium grew 44%, mainly from a 47% growth in new health and life insurance premium.

Meanwhile, its credit business, which took a hit following the Indian central bank's crackdown on unsecured lending, continued to face slowdown.

PB Fintech said its disbursal in the online credit business was down 20% year-on-year, with revenue from the segment dropping 18%.

However, its total lending disbursal rose 52%, led mainly by the new secured credit business which was started in the previous quarter.

($1 = 86.6000 Indian rupees)

(Reporting by Nishit Navin in Bengaluru; Editing by Varun H K)

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** Aditya Birla Capital ADTB.NS rises 3% to 172 rupees, PB Fintech PBFI.NS down 6.7% to 1,736 rupees

** Morgan Stanley downgrades PBFI to 'underweight' and upgrades ADTB to 'overweight'; PTs unchanged

** ADTB offers deep value after a 3-month correction, strong funding access, and good asset quality - MS

** Says, ADTB's low valuation seen as a safe entry point for investors

** Brokerage sees investor optimism for PBFI cooling as revenue growth slows; profit emergence weaker than expected

** Its core premium growth to moderate in FY26 after an estimated ~50% growth in FY25, leading to derating - MS

** Analysts' avg rating is "strong buy" for ADTB and "hold" for PBFI - data compiled by LSEG

** PBFI rose ~165% in 2024; ADTB gained ~6.9%

(Reporting by Yagnoseni Das in Bengaluru)

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Jan 3 (Reuters) - PB Fintech Ltd PBFI.NS:

• PB FINTECH - ITAT SUSTAINED ALL GROUNDS OF APPEAL FILED BY CO AGAINST CIT(A) ORDER

• PB FINTECH - ORDER LEADS TO DELETION OF ADDITIONS UPTO 1.66 BILLION RUPEES

Source text: ID:nBSE6MjWrl

Further company coverage: PBFI.NS

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** Shares of insurance aggregator PB Fintech PBFI.NS rise 4.2% to 2,006.55 rupees

** Co to set up unit to provide healthcare services with proposed name PB Healthcare or PB Healthcare Services

** PBFI operates insurance platform Policybazaar and personal loans and credit cards platform Paisabazaar

** Trading vols at 1.2 mln, nearly the same as 30-day average

** Stock has more than doubled in price this year

(Reporting by Vijay Malkar)

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Dec 3 (Reuters) - PB Fintech Ltd PBFI.NS:

• PB FINTECH LTD - APPROVES INCORPORATION OF WHOLLY OWNED SUBSIDIARY

• PB FINTECH LTD - SUBSIDIARY TO CARRY ON HEALTHCARE AND ALLIED SERVICES

Source text: ID:nBSE6CcPY8

Further company coverage: PBFI.NS

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** Shares of PB Fintech PBFI.NS up around 2% at 1,674 rupees

** Co, which is the parent of insurance aggregator Policybazaar, posted a Q2 consol net profit of 506.7 mln rupees ($6 mln) vs a loss of 202.5 mln rupees a year ago

** Revenue up 44% at 11.67 bln rupees

** Analysts at Morgan Stanley say the co's upbeat revenue performance will support the stock in the near term

** PBFI has more than doubled in 2024

($1 = 84.2050 Indian rupees)

(Reporting by Nishit Navin in Bengaluru)

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Nov 5 (Reuters) - PB Fintech Ltd PBFI.NS:

• Q2 CONSOL NET PROFIT 506.7 MILLION RUPEES

• Q2 CONSOL REVENUE FROM OPERATIONS 11.67 BILLION RUPEES

Further company coverage: PBFI.NS

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Oct 10 (Reuters) - Bajaj Holdings and Investment Ltd BJAT.NS:

• BAJAJ HOLDINGS AND INVESTMENT- BUYS STAKE IN PB FINTECH WORTH 148.6 MILLION RUPEES

Source text for Eikon: ID:nBSEQqjpd

Further company coverage: BJAT.NS

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Oct 8 (Reuters) - PB Fintech Ltd PBFI.NS:

• PB FINTECH - GOT SHOW CAUSE NOTICE ON SOME OF OBSERVATIONS IN RESPECT OF INSPECTION

• PB FINTECH- INDIA INSURANCE AUTHORITY ISSUED ADVICE LETTER TO CO

• PB FINTECH - NO MATERIAL IMPACT IN MONETARY TERMS

• PB FINTECH- LETTER OF ADVICE PERTAINS TO MAINTAINING DOCUMENTATION, SYSTEMS, PROCESSES

Further company coverage: PBFI.NS

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** Shares of online insurance services provider PB Fintech PBFI.NS rise about 5% to 1,700 rupees

** Jefferies and CLSA say co's clarification on new healthcare initiatives eases concerns around capital allocation

** PBFI says it is planning a one-time investment of $100 mln for 20%-35% stake in a new healthcare venture

** PBFI's liability will be limited to the initial investment, says Jefferies

** New venture can help company's earnings and long-term growth, it says

** CLSA says clarification reduces market concerns around misallocation of capital

** The mean rating of 16 analysts tracking PBFI is equivalent to "hold"; median price target is 1,435 rupees

** PBFI shares up 115% so far this year, outperforming 30.4% rise in mid-cap index .NIFMDCP100

(Reporting by Bharath Rajeswaran in Bengaluru)

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Sept 20 (Reuters) - PB Fintech Ltd PBFI.NS:

• CLARIFIES DO NOT INTEND TO GRANT ESOPS TO EMPLOYEES OF ASSOCIATE COS

Source text for Eikon: ID:nBSE4PJWhp

Further company coverage: PBFI.NS

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** Shares of India's PB Fintech PBFI.NS rise 2.5% at 1,471.45 rupees after jumping as much as 6.6%

** Co posted Q1 profit vs loss a year ago on insurance boost

** Brokerage Jefferies says Q1 results "strong beat"

** Investor focus will be on sustainability of premium momentum, credit business pick-up, says Morgan Stanley

** Co, on an avg, rated "buy" by analysts; median PT lifted to 1,311 rupees on the day from 1,300 rupees a month ago - LSEG data

** YTD stock has surged over 85%

(Reporting by Hritam Mukherjee in Bengaluru)

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Aug 6 (Reuters) - PB Fintech Ltd PBFI.NS:

• PB FINTECH Q1 CONSOL NET PROFIT 601.8 MILLION RUPEES

• PB FINTECH Q1 CONSOL REVENUE FROM OPERATIONS 10.10 BILLION RUPEES

Source text for Eikon: ID:nBSEbNLX1b

Further company coverage: PBFI.NS

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June 21 (Reuters) - PB Fintech Ltd PBFI.NS:

• PB FINTECH LTD - APPROVED GRANT OF UNSECURED LOAN UP TO 2 BILLION RUPEES TO POLICYBAZAAR INSURANCE BROKERS

• PB FINTECH LTD - APPROVED GRANT OF UNSECURED LOAN UP TO 500 MILLION RUPEES TO PAISABAZAAR MARKETING AND CONSULTING

Source text for Eikon: ID:nBSE58Sqml

Further company coverage: PBFI.NS

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June 6 (Reuters) - PB Fintech Ltd PBFI.NS:

• PB FINTECH LTD - SHOW CAUSE NOTICE ISSUED BY SECURITIES AND EXCHANGE BOARD OF INDIA TO YASHISH DAHIYA, CHAIRPERSON AND CEO OF CO

• PB FINTECH LTD - THERE IS NO MATERIAL IMPACT ON FINANCIALS, OPERATIONS OR OTHER ACTIVITIES OF COMPANY

• PB FINTECH - SCN PERTAINS TO INVESTMENT OF USD 2 MILLION BY PB FINTECH FZ-LLC, DUBAI FOR 26.72% STAKE IN YKNP MARKETING MANAGEMENT

Source text for Eikon: ID:nBSE9mRHcl

Further company coverage: PBFI.NS

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May 27 (Reuters) - PB Fintech Ltd PBFI.NS:

• PB FINTECH LTD - APPROVED ACQUISITION OF SHARES OF GENESIS GROUP FOR AED 3.9 MILLION

Source text for Eikon: ID:nBSEb5NP8m

Further company coverage: PBFI.NS

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May 16 (Reuters) - PB Fintech Ltd PBFI.NS:

• PB FINTECH LTD - DIVESTED 29.30% STAKE IN VISIT HEALTH PVT LTD HELD BY UNIT DOCPRIME TECHNOLOGIES FOR 760 MILLION RUPEES

Source text for Eikon: ID:nNSE79pYxF

Further company coverage: PBFI.NS

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Updates to reflect analyst's revised estimate in paragraph 3

By Bharath Rajeswaran

BENGALURU, May 15 (Reuters) - India's weight in MSCI's Global Standard index, which tracks emerging market stocks, has risen to another record high, boosting prospects of more inflows into its equity markets.

With this, India has further narrowed the gap with China on the index. While China's weightage in the index will fall to 25% from 25.4%, India's weight will rise to 19% from 18.2%. The changes, announced on Wednesday, will be effective May 31.

The May review will lead to about $2 billion - $2.5 billion inflows into India, Abhilash Pagaria, head of Nuvama Alternative and Quantitative Research said.

Consistent flows from domestic institutional investors and steady participation by foreign investors means that there is potential for India to surpass 20% weightage in the MSCI Global Standard index by the second half of 2024, Pagaria said.

With the May rejig, India's stock count in the MSCI Global Standard index is at 149, the highest ever for the country.

India's rising prominence in emerging markets is due to robust performance of its equities, particularly in the mid-cap segment, amid the relative underperformance by other emerging markets, especially China, analysts have said.

MSCI will add 13 Indian companies, the most among emerging markets, to the Global Standard Index from May end.

These include JSW Energy JSWE.NS, Canara Bank CNBK.NS, Indus Towers INUS.NS in the large-cap segment, and Mankind Pharma MNKI.NS, Bosch BOSH.NS, Solar Industries SLIN.NS, NHPC NHPC.NS, Torrent Power TOPO.NS, Thermax THMX.NS, Jindal Stainless JIST.NS and Sundaram Finance SNFN.NS in the mid-cap index.

Phoenix Mills PHOE.NS and PB Fintech PBFI.NS have been upgraded to the mid-cap index from small-cap by MSCI.

Berger Paints BRGR.NS will be removed from the MSCI index while Indraprastha Gas IGAS.NS and Paytm's parent One 97 Communications PAYT.NS have been downgraded to the small-cap index from the mid-cap index.

Housing Urban Development Corp HUDC.NS and Waaree Renewable Technologies WAAE.BO have been added to the small-cap index.

Separately, 29 Indian stocks have been added to the MSCI Domestic index while 15 have been moved to other categories or removed.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Mrigank Dhaniwala)

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May 7 (Reuters) - PB Fintech Ltd PBFI.NS:

• PB FINTECH MARCH-QUARTER CONSOL NET PROFIT 605.9 MILLION RUPEES VERSUS LOSS 89.5 MILLION RUPEES

• PB FINTECH MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 10.9 BILLION RUPEES VERSUS 8.69 BILLION RUPEES

Source text for Eikon: ID:nBSEbPDdx0

Further company coverage: PBFI.NS

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** India's PB Fintech PBFI.NS rises 3.5% to 1,308.5 rupees, its highest since early April

** Insurance aggregator to buy 49% stake in UAE-based insurance broker Genesis group for 3.88 million AED ($1.06 million)

** Analysts' median PT on PBFI is 1,020 rupees, less than current price, though their mean rating is "buy" -LSEG data

** Stock has jumped ~65% so far this year

($1 = 3.6728 UAE dirham)

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Insurance aggregator Policybazaar's parent PB Fintech PBFI.NS up 5% to hit highest level since November 2021

** Co enters into partnership with non-life insurer ICICI Lombard ICIL.NS to allow the firms access to nearly 10 mln customers via channels, including Policybazaar platforms

** ICIL trims losses from last session to trade 0.2% lower from 0.5% in previous session

** PBFI trading above its 200-day simple moving avg since February 2023

** Trading volumes at 1.2 mln shares- 0.6x the 30-day avg in early trade

** Analysts' avg ratings on PRBI and ICIL stocks is "Buy"- LSEG

** At current levels, PBFI has gained ~73% YTD, while ICIL up ~20%

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

April 9 (Reuters) - ICICI Lombard General Insurance Company Ltd ICIL.NS:

• ICICI LOMBARD GENERAL INSURANCE COMPANY LTD - ICICI LOMBARD ENTERS INTO A STRATEGIC PARTNERSHIP WITH POLICYBAZAAR

• ICICI LOMBARD GENERAL INSURANCE COMPANY LTD - ACCESS TO 10 MILLION CUSTOMERS THROUGH PARTNERSHIP WITH POLICYBAZAAR

Source text for Eikon: ID:nNSE2B85y0

Further company coverage: ICIL.NS

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** Shares of insurance aggregator Policybazaar's parent PB Fintech Ltd PBFI.NS rise as much as 3.3% to 1,151 rupees

** Co approved incorporation of a wholly-owned subsidiary to carry on business of payment aggregator – domestic or cross border or both

** Stock on track to gain for 2nd consecutive day

** Stock trading above its 200-day simple moving avg since Feb. 2023

** More than 370,000 shares traded as of 10:52 a.m. IST, and over 5.3 mln shares traded this week so far

** Mean rating of 15 analysts rating the stock is "buy"; their median PT is 1,010 rupees, 13.9% lower than today's high - LSEG data

** PBFI last up 1.6%; gained ~42.9% YTD, while One 97 Communications Ltd PAYT.NS fell ~33.5%

(Reporting by Meenakshi Maidas in Bengaluru)

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By Nandan Mandayam and Navamya Ganesh Acharya

BENGALURU, March 1 (Reuters) - Shares of Indian food delivery platform Zomato ZOMT.NS hit a record high on Friday, as improving profitability paves the way for future growth, triggering a turnaround in investor sentiment.

Zomato is the most-valuable internet stock in Asia's third-largest economy, with a market capitalisation of more than 1.51 trillion rupees ($18 billion). On Friday, its shares rose nearly 5% to 173.5 rupees.

India's several new-age internet companies that hit the markets during the IPO frenzy in 2021 jumped after listing but slumped eventually on investor scepticism over lofty valuations and business models. Several of these firms also fell below their issue prices.

Zomato, which was the first to list among peers like Policybazaar PBFI.NS, Paytm PAYT.NS, and Nykaa FSNE.NS, had a limited track record of profitability, and investors fretted over its strategic moves.

Now, with the company's results trumping expectations for several quarters, sentiment has "completely reversed," Sachin Dixit, internet research analyst at JM Financial, said.

"Investors are incrementally appreciative of whatever Zomato is trying to do and there is a certain amount of consumer love for the business model too."

Zomato's "consistent earnings improvement" and timely delivery on growth targets sets it apart from its peers who have "no clear path to growing profitability", Elara analyst Karan Taurani said.

Nykaa, which was an investor darling, is facing certain macro headwinds for the moment, Dixit noted.

Meanwhile, Paytm, under the regulator's scrutiny, has tanked.

Zomato, with over half the market share in food delivery, will continue to dominate the IPO-bound Swiggy, analysts said.

Blinkit - Zomato's quick commerce business, which it acquired in 2022 - is expected to turn EBITDA-positive next fiscal year and is viewed by investors as the next lever of growth for the firm.

($1 = 82.8580 Indian rupees)

(Reporting by Nandan Mandayam and Navamya Ganesh Acharya in Bengaluru; Editing by Mrigank Dhaniwala)

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Feb 28 (Reuters) - PB Fintech Ltd PBFI.NS:

• UNIT POLICYBAZAAR INSURANCE BROKERS GOT REGISTRATION CERTIFICATE TO ACT AS COMPOSITE INSURANCE BROKER

• PB FINTECH LTD - UNIT GOT COMPOSITE INSURANCE BROKER CERTIFICATE FROM INDIA INSURANCE REGULATOR

Further company coverage: PBFI.NS

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