HDFC MF bets on PB Fintech, buys stake worth Rs 321 crore as IRDAI reforms trigger 36% stock rout

HDFC Mutual Fund bought 25 lakh PB Fintech shares worth about Rs 321 crore at Rs 1,282.30 each, even as the stock plunged 36% after IRDAI proposed renewed insurance commission caps, raising concerns over the company’s general insurance revenues.