PB Fintech surges 7%, hits 2-year high on pact with ICICI Lombard

Shares of PB Fintech, the parent company of Policybazaar, hit over a two-year high of Rs 1,400, rallying 7 per cent on the BSE in Wednesday’s intra-day trade. This came after ICICI Lombard, the private insurance major, entered into a strategic partnership with the company to offer its products on the Policybazzar’s platform.

Stocks of PB Fintech are trading at its highest level since November 2021. It had hit a record high of Rs 1,470 on November 17, 2021. At 09:21 am, the stock was trading 5 per cent higher at Rs 1,369.85, as compared to the 0.33 per cent rise in the S&P BSE Sensex. On the other hand, shares of ICICI Lombard General Insurance Company were quoting 1 per cent higher at Rs 1,713 on the BSE.