Stories
PB Fintech Plunges 28%: Other Indian Stocks That Faced Worse Single-Day Falls
- •PB Fintech shares dropped 28% on Thursday, September 24, marking its largest single-day fall on record, wiping out over ’30,000 crore in market capitalization.
- •The sharp sell-off in PB Fintech was triggered by the IRDAI draft paper on distribution norms, with analysts believing PB Fintech is most exposed.
- •Yes Bank experienced an over 80% fall in March 2020 after RBI superseded its board and imposed a moratorium, wiping out over $1 billion in market value.
- •PC Jeweller plummeted 60% in February 2018 due to panic selling linked to the Vakrangee crisis and SEBI scrutiny for price/volume manipulation.
- •Dewan Housing (DHFL) saw a 55-60% intraday drop in September 2018 due to system-wide liquidity panic following the IL&FS default, losing $1.45 billion in market cap.
Key Questions Answered
PB Fintech shares plummeted by around 28% to 30% on Thursday, September 24, 2026, marking their biggest single-day fall on record. The steep sell-off was triggered by the release of the IRDAI draft paper on distribution norms, with analysts and brokerage firm Bernstein warning that PB Fintech is heavily exposed to these proposed structural reforms and commission cuts.
The IRDAI draft paper proposes structural reforms to lower insurance costs and expand coverage, including rationalising Expenses of Management, reintroducing segmental commission limits, prohibiting deceptive 'Dark Patterns', and disclosing commission rates on policy documents. It also addresses rules on bank-sold policies, agent incentives, and the prohibition of compulsory product bundling like credit life.
While PB Fintech wiped out over ₹30,000 crore in market cap following a 30% slump, other Indian stocks have suffered even worse historical intraday plunges. For example, Yes Bank crashed over 80% in March 2020 after RBI intervention, PC Jeweller fell up to 60% in February 2018 amid the Vakrangee crisis, and Dewan Housing dropped 55% to 60% during the September 2018 liquidity panic.
