According to Rajesh Bhosale – Equity Technical and Derivative Analyst, Angel One, the stock has seen a vertical rally in the last couple of weeks and is up 22% for the month. Overall momentum continues on the positive side, but considering the overbought zone, fresh buys at elevated levels should be avoided and buys on dips should be preferred. 1,470 is resistance, whereas 1,280 supports.
The company announced in an exchange filing that it has incorporated a wholly-owned subsidiary called “PB Pay Private Limited” through a Certificate of Incorporation issued by the Registrar of Companies, Central Registration Center, Ministry of Corporate Affairs dated April 09, 2024.
This is in accordance with Regulation 30 read with Schedule III of the SEBI Listing Regulations, and it builds upon their earlier communication dated March 20, 2024. Promoters of Policy Bazaar, PB Fintech, announced on March 20 that their board had approved the setting up of a wholly-owned subsidiary to conduct payment aggregation operations.
As per the company’s regulatory filing on March 20, the subsidiary named ‘PB Pay Private Limited’ would engage in the payment aggregator business, either domestically or internationally, or both, if approved by the Reserve Bank of India. It will achieve this by providing merchants with offline and/or digital payment acceptance infrastructure, or both. It also said that the planned business will have a paid-up share capital of ₹27 crore.
PB Fintech stock price rose 132.55% and outperformed its sector by 85.28% in the past year, as per trendlyne data. The company provides information technology consulting and support services, with a focus on the financial services sector, particularly insurance. It is an integrated internet marketing and consulting firm.
