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This share will go up to Rs 830, Rakesh Jhunjhunwala’s big bet on this share

Shares of Star Health and Allied Insurance can go up to Rs 830. Foreign brokerage house CLSA has launched coverage of Star Health and Allied Insurance and has given a target price of Rs 830 for the shares of the company. Shares of Star Health are currently trading at Rs 702 with a gain of 0.24 per cent on the Bombay Stock Exchange. Veteran investor Rakesh Jhunjhunwala has a major stake in Star Health. 

The shares are nearly 22 per cent below the IPO price.
In a report in the Economic Times, CLSA said that Star Health’s strong position in the fast-growing industry will certainly help it generate revenue growth and garner a larger market share. Shares of Star Health are down nearly 22 per cent from the IPO price of Rs 900. Shares of Star Health were listed at Rs 848.80 in December last year with a discount of about 6 per cent from its IPO price.
The Jhunjhunwala family holds 17.51 ​​per cent stake in the company.
Veteran investor Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala hold a total of 17.51 ​​per cent stake in Star Health. This figure of stake is for the December 2021 quarter. CLSA has said, ‘We believe that the industry will grow more than three times in the next 5 years. Gross premium will increase from $4 billion to $12 billion. At the same time, the net population covered by retail policies will increase from 6 per cent to 11 per cent. 

Star Health & Allied Insurance has a 32 per cent market share in the retail segment. The 52-week high of Star Health shares is Rs 940. At the same time, the low-level for 52 weeks is Rs 603. The market cap of the company is close to Rs 40,400 crore. 


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