BUZZ — India's PB Fintech heads for worst day ever after regulator proposal to cut commission

* Shares of PB Fintech plunge 26% to 1,395.70 rupees, their lowest since April and on track for worst day on record * India proposed curbs on insurance commission payouts, which analysts say could disrupt existing distribution models, weighing on growth of PBFI, which owns insurance distribution platform Policybazaar * Ambit ("buy", PT 2,305 rupees), rated 5/5 stars overall, per LSEG data, says PBFI's blended commissions could drop by ~40% in FY28, and co will likely require growth and cost resets * Brokerage flags health insurance as biggest risk area and warns PBFI's profitability could fall to near break-even under the proposed commission structure * Avg rating of 23 analysts on stock at "buy"; median PT 1,970 rupees - LSEG-compiled data * Stock down 23.4% YTD as session wipes out gains (Reporting by Kashish Tandon in Bengaluru) ((Kashish.tandon@thomsonreuters.com)