UBS initiates coverage on PB Fintech with a sell rating

PB Fintech, which listed on exchanges last week, has posted gains of 25% versus its IPO price since. UBS now initiates coverage on the stock with a sell rating based on DCF valuations. UBS expects the stock to correct 14% to `1050 a share. PB Fintech holds the platforms PaisaBazaar and PolicyBazaar and UBS believes that the business model for the company is attractive with a 46% revenue CAGR from the FY21 to the FY24 period. However, believes that the company will face increased competition and the valuation is demanding. Hersh Sayta takes us through how the stock has been doing and UBS’s take. Subscribe To ET Now For Latest Updates On Stocks, Business, Trading | ► https://goo.gl/SEjvK3 Subscribe Now To Our Network Channels :- Times Now : http://goo.gl/U9ibPb The NewsHour Debate : http://goo.gl/LfNgFF To Stay Updated Download the Times Now App :- Android Google Play : https://goo.gl/zJhWjC Apple App Store : https://goo.gl/d7QBQZ Social Media Links :- Twitter - http://goo.gl/hA0vDt Facebook - http://goo.gl/5Lr4mC G+ - http://goo.gl/hYxrmj Website - www.etnownews.com