This stock included in Rakesh Jhunjhunwala's portfolio is bullish today, brokerage house gave buy rating, know target price

This stock included in Rakesh Jhunjhunwala’s portfolio is bullish today, brokerage house gave buy rating, know target price

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new Delhi. The stock of Star Health and Allied Insurance Company, which is included in Rakesh Jhunjhunwala’s portfolio, has broken nearly 32 per cent against its record high of Rs 940. This recently listed stock is trading well below its issue price. Experts are advising buying at its current level. He believes that in the coming time this stock will make good earnings to its investors.

Star Health Insurance is a leading insurer company in India. The company has a strong network of more than 5 lakh agents, more than 12,000 hospitals and 737 branches. The company has a good financial track record. The company’s PAT has grown at 18% CAGR during FY16-FY20. In FY21/FY22, the company’s business has been affected due to Kovid 19, but the company will get the benefit of better growth in the health insurance sector going forward.

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Motilal Oswal gave advice to buy

Brokerage firm Motilal Oswal has given Star Health Insurance share rating to the stock of Star Health. According to a report by Live Mint, the brokerage house has given the target price of this stock at Rs 750. This is 20 percent more than the current level of this stock. Motilal Oswal believes that Star Health is the market leader in the Indian health insurance industry with a retail market share of 31%. The company is growing at a faster rate than the overall health insurance industry.

On Thursday, 17th March 2022, the stock of Star Health is seeing an uptrend. In intraday, this stock has reached Rs 641. However, later it has declined slightly and now it is trading at Rs 638 (Star Health Insurance share price today) with an increase of 4.80 percent.

Also read: Paytm founder Vijay Shekhar Sharma is suffering a daily loss of 88 crores, out of the list of billionaires

Rakesh Jhunjhunwala’s stake

Rakesh Jhunjhunwala holds 17.5 per cent stake in the company. He holds 100,753,935 shares of the company. Star Health was listed on the stock market on 10 December 2022. The issue price for the IPO was Rs 900, while the stock got listed at Rs 903. On the listing day, after seeing a price of Rs 940, it closed at Rs 907.

Tags: Rakesh Jhunjhunwala, stock market

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