PB Fintech shares lose post-result gains amid markets’ downturn

PB Fintech, the parent of Policybazaar and Paisabazaar, closed lower after a sharp decline amid profit booking in Monday’s trade, losing last week’s gains after posting a near three-fold rise in profit for the March quarter. The drop followed a bearish stance by analysts, unenthused by the financial results put out by the company last week.

The counter opened slightly higher at Rs 1,762 per share, but dropped sharply in the first leg of trade. The stock hit an intraday low of Rs 1,676.10 before recovering slightly. PB Fintech shares closed 3.74% lower…