PolicyBazaar share price: Shares of PolicyBazaar ie PB Fintech saw a fall of up to 10 percent during early trading on Friday amid weakness in the stock market. Shares of PB Fintech opened with a fall of Rs 28 on NSE and went as low as Rs 775. At present (12.45 pm) with a weakness of about 8 per cent, they are trading at Rs 796.
This fall is a buying opportunity
However, stock market analysts see this fall as a buying opportunity for short to long term investors.
According to stock market analysts, the stock of PolicyBazaar may make a strong comeback as it expects good business volume from the policy renewal. He said that in the short term the stock can go up to the level of Rs 1,000.
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There is good support at Rs 775
According to a Livemint report, Sumeet Bagadia, Executive Director, Choice Broking said, “PB Fintech stock has good support at Rs 775 and on downside breakout it can go up to Rs 720 to Rs 700. Hence, positional investors should wait for sometime as the stock may go up significantly if it crosses above Rs 850 on closing basis.”
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Shares have lost 50% from lifetime high
Anuj Gupta, Vice President, IIFL Securities said, “PolicyBazaar’s shell has broken nearly 50 per cent from its lifetime high of Rs 1,470 post listing. The company is expected to do well in the current quarter as the demand for life and mediclaim policies generally picks up at the end of the financial year. We can expect the stock to bounce back from the current levels. It has strong support at Rs 750-760 level. High risk investors can buy this stock as we expect it to go up to Rs 950-1000 in the short term.”
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Fourth quarter results expected to be good
Ravi Singhal, Vice Chairman, GCL Securities said, “The company expects strong Q4 results. Hence, the current decline can be a good buying opportunity. In the long term, for a target of Rs 1,200, it can be bought around Rs 750 to 760.
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