₹85,000 crore gone! PB Fintech to HDFC Bank — these 5 financial stocks witness highest wealth erosion on IRDAI's move
IRDAI moved lower.
· LiveMint Markets
Financial stocks faced significant selloff on Thursday due to proposed changes by IRDAI to insurance distribution and commission structures, erasing ₹1.12 lakh crore in market capitalisation. Major losses were seen in Bajaj Finance, PB Fintech, HDFC Bank, and Axis Bank, leading the decline.
The analysis
IRDAI reported ₹85,000 crore and ₹1.12 lakh crore. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is -1.5% on the day at ₹692.20, and has returned -14.6% over three months. It sits 31% below its 52-week high, which means a good deal of bad news was already in the price. The banks sector has moved -1.7% over the same period, so HDFC Bank is running 12.9 points behind its peers.
With HDFC Bank, Bajaj Finance and Axis Bank all implicated, this reads as a Banks-level move rather than a company-specific one, which is the more durable kind of signal.
Why it matters
- With IRDAI involved, this carries a regulatory dimension that can outlast the immediate market reaction.
Market context
- It touches several names at once (HDFCBANK, BAJFINANCE, AXISBANK), which points to a sector-level rather than company-specific driver.
- Sector exposure: Banks, Financial Services.
- The immediate tone of coverage reads negative.
In this story
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