PB Fintech drop nearly 6% despite CEO’s denial of resign

Shares of PB Fintech, the parent of Policybazaar, tumbled nearly 6% on Thursday, hitting an intraday low of ₹1,718.10 on the BSE. The sharp decline came amid market speculation that group CEO Yashish Dahiya was set to step down. Dahiya quickly dismissed the reports. Speaking to CNBC-TV18, he stated he would “continue to remain in the same role in the company,” putting an end to the resignation chatter. The stock’s fall also came against a backdrop of regulatory concerns over potential cuts in insurance agent commissions. Global brokerage Bernstein, however, maintained a constructive stance. The firm noted that any impact on PB Fintech from the government’s norms is likely to be limited.