Shares of PB Fintech rallied as much as 4% to hit a high of Rs 1,214 on the BSE on Monday after international brokerage Bernstein reiterated its Outperform rating on the stock and a target price of Rs 2,310, indicating a potential 91% upside from the previous close.
The positive view comes after PB Fintech shares suffered a sharp 39% decline over two trading sessions following the Insurance Regulatory and Development Authority of India’s (IRDAI) proposal to ban ‘dark patterns’ on insurance websites. The proposed rules include practices that require customers to share personal details before they can access product features and pricing information.
