POLICYBZR Crashes 36%: ₹1,078 Support, ₹1,390 Resistance

PB Fintech plunged 36% to a two-year low after IRDAI proposals sparked concerns over insurance distribution economics. Key levels remain in focus. PB Fintech

shares plunged 36% on September 24, hitting a two-year low as investors reacted to proposed IRDAI changes affecting insurance distribution economics. PB Fintech, the parent company of Policybazaar, witnessed a steep decline on September 24, with its shares falling 36% to ₹1,207.20 on the NSE. The stock slipped to its lowest level since June 5, 2024, as market participants assessed the potential impact of proposed regulatory changes on the insurance distribution industry. The IRDAI consultation paper proposes revisions to commission structures across health, motor and life insurance products. While the proposals are yet to be finalized, concerns over their potential effect on distribution economics and profitability triggered heavy selling in the stock. Stakeholders can submit feedback until October 25. PB Fintech has witnessed a sharp technical breakdown, with the ₹1,310–₹1,390 zone, which previously acted as support, now emerging as a key resistance area. On the downside, the 61.8% Fibonacci retracement of the November 2022–December 2024 rally is placed near ₹1,078, making it an important support level to monitor if weakness persists. Disclosure: I have no holding in the mentioned scrip. This content is shared solely for informational and educational purposes and should not be construed as investment advice or a recommendation to buy or sell.