India’s new-age tech stocks ended the week under pressure, with insurtech names leading a broad sell-off after the Insurance Regulatory and Development Authority of India’s proposed commission changes rattled investor sentiment. PB Fintech and Turtlemint were among the hardest hit, dragging the combined market capitalisation of the sector down by about $3.6 billion over the week.
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"Insurtech Rout Erases $3.6 Billion From New-Age Tech Stocks This Week"
India’s new-age tech stocks ended the week under pressure, with insurtech names leading a broad sell-off after the Insurance Regulatory and Development Authority of India’s proposed commission changes rattled investor sentiment. PB Fintech and Turtlemint were among the hardest hit, dragging the combined market capitalisation of the sector down by about $3.6 billion over the week.
Insurtech Rout Erases $3.6 Billion From New-Age Tech Stocks This Week
R
RDU Global Wire
Startups & Venture Capital Desk
New Delhi, India Just now (06:52 AM IST)•5 min read
India’s new-age tech stocks ended the week under pressure, with insurtech names leading a broad sell-off after the Insurance Regulatory and Development Authority of India’s proposed commission changes rattled investor sentiment. PB Fintech and Turtlemint were among the hardest hit, dragging the combined market capitalisation of the sector down by about $3.6 billion over the week.
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