The shares of Star Health And Allied Insurance Company increased by more than 16 percent on the day after Credit Suisse initiated coverage on the stock , with an ‘outperform rating. Star Health and Allied Insurance Company shares rose up to 16.44 percent to reach 554.00. 554.20 in comparison to the previous closing of 475.95 at BSE.
The stock is an element of the ace investor Rakesh Jhunjhunwala’s investment portfolio. Jhunjhunwala is an advocate for Star Health. He (14.40 percent) as well as his spouse Rekha Jhunjhunwala (3.11 percent) were the owners of a 17.51 percent stake in the insurance company at the quarter ending March 2022 the shareholding pattern data shows.
Credit Suisse said the stock could rise by 20. It has assigned a price target of 600 rupees to the Jhunjhunwala-backed company’s stock.