EUR 120.00 For Business Accounts Only

MOSL: Morning India (12/October/21): 1. PB Fintech (Leading the digital insurance and credit marketplace); 2. Tata Motors; 3. EcoScope; 4. Healthcare; 5. Logistics

MOrning India (12/October/21): MOrning India (12/October/21): 
Today’s top research themePB Fintech: Leading the digital insurance and credit marketplace- PB Fintech commenced operations in FY08 initially as an insurance web aggregator. Subsequently, it entered the credit market to provide convenient access to credit and other financial products. In addition to creating a distribution channel, it also provides online marketing, consulting, and support services for the industry, and follows an asset-light capital strategy without undertaking any insurance or credit risk.- Policybazaar has evolved as India's largest digital insurance marketplace, with market share of 93.4% (basis the number of policies) and constituted 65.3% of the digital insurance sales in India by volume as of FY20. Paisabazaar is the largest digital consumer credit marketplace, with market share of 51.4% on the basis of disbursals.- We estimate a revenue CAGR of ~40% over FY21-24, led by 42% growth in premium income and project the EBITDA / contribution margin to expand to 4.8%/52.1%. PB Fintech would continue to invest in the business, which would support the growth momentum. At proposed valuations of USD5-6b, the implied P/Sales multiple corresponds to 16-19x on FY24E.

Piping hot newsWHO recommends extra Covid-19 vaccine dose for immunocompromisedThe World Health Organisation's vaccine advisory on Monday recommended immunocompromised people to be given an additional dose of all Covid-19 vaccines authorised by the WHO.