PB Fintech shares slip another 5% after massive 36% crash on Thursday. What are Jefferies, others saying?

Shares of PB Fintech swung 12% from their day’s high to trade 5% lower to Rs 1,115 on the BSE, a day after the stock suffered a brutal sell-off, plunging 36% in a single day. The sharp decline came after the Insurance Regulatory and Development Authority of India (IRDAI) proposed a ban on ‘dark patterns’ on insurance websites, including practices that require customers to share personal details before accessing product features and pricing information.

The proposed Irdai reforms could weigh on insurance stocks by pressuring the economics of distribution. Lower Expense of Management (EoM) limits would restrict how much insurers can spend on commissions, distribution and other operating expenses. This could make customer acquisition more expensive.