The shares of Info Edge, the parent company of Naukri, plunged around 7% on Thursday as the historic 32% crash in PB Fintech's stock sharply reduced the value of the job search company's stake in the insurance distributor.
Info Edge shares tumbled to Rs 1,209 apiece on NSE. Meanwhile, shares of PB Fintech, the parent company of Policybazaar, crashed 32% to Rs 1,282.30 apiece after IRDAI's proposed overhaul of the insurance sector spooked investors, with brokerages sounding the alarm for insurance distributors.
