PolicyBazaar hits over 5-month high; surges 30% thus far in February

The company expects adjusted EBITDA to turn positive in current quarter (Q4FY23).

Shares of PB Fintech, the parent company of Policybazaar, hit an over five-month high of Rs 559, as they rallied 7 per cent on the BSE in Friday’s intra-day trade amid heavy volumes. The stock of fintech company was trading at its highest level since September 13, 2022.

Policybazaar quoted higher for the fifth straight day, surging 15 per cent during the period. In comparison, the S&P BSE Sensex was down 2 per cent. Thus far in the month of February, the stock has soared 30 per cent on expectation of the company will report a profit after tax