Fintech

The total worth of India's future unicorns will stand at USD 58 billion, an increase of 1.2 per cent as compared to last year. Fintech sector leads with the highest number of companies that can become Unicorns in future.

India's fintech sector is set to host the 9th Global Economic Summit in Mumbai from August 8-10, 2024, focusing on 'FinTech: Accelerating the Digital Revolution.' The event features support from ONDC, DLAI, and Atal Incubation Centre - RMP, with notable speakers discussing evolving market trends and critical technologies.

PB Fintech is pursuing legal action regarding the SCN and maintains that there will be no material impact on the company's financials or operations. The announcement was made after market hours and the stock ended at Rs 1,288 on the NSE, down by 5.35 or 0.41%.

The FinTech Repository intends to collect critical information regarding FinTech firms, their activities, technological applications, and so on. FinTechs, both licenced and unregulated, are urged to contribute to the Repository, which may be accessed at https://fintechrepository.rbihub.in. Simultaneously, the EmTech Repository, a repository for exclusively RBI-regulated organisations (banks and NBFCs) on their use of new technologies (such as AI, ML, Cloud Computing, DLT, Quantum, etc.), is being launched and can be viewed at the URL: https://emtechrepository.rbihub.in.

PB Fintech shares fell 4% to Rs 11,99.85 on the BSE on Tuesday after the report of a Rs 677 crore block deal. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

​VWAP: Rs 1314.24| LTP: Rs 1286.3

Jefferies stated that PB Fintech, which operates India's largest online insurance platform, should witness 30% CAGR in premiums over FY25-27E and aided by strong operating leverage in its renewal book, deliver 5x EBITDA growth. It has initiated a ‘buy’ view with a target price of Rs 1,150 on the stock.

VWAP: Rs 1260.52| LTP: Rs 1229.4

CY24 Price Return: 51% Number of MF schemes that held stock in April 2024: 130. As of April '24, the market value of stocks in equity mutual funds reached Rs 5866 crore.