Shares of Rakesh Jhunjhunwala-backed Star Health and Allied Insurance Company were assigned buy calls by two leading brokerages within a week. Jhunjhunwala and his wife Rekha are the second-largest shareholders in the company with an 18.21 per cent stake. Safecrop Investments India LLP is the biggest shareholder with 47.77 per cent stake.
The Indian equity market is likely to open in the green today as SGX Nifty was trading 259 points higher at 16,894.80. The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.
Motilal Oswal assigned a target price of Rs 750, 23 per cent higher than the current market price of Rs 609 to the Star Health and Allied Insurance Company.
The Indian equity market is likely to open in the green today as SGX Nifty was trading 259 points higher at 16,894.80. The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.
Rakesh Jhunjhunwala-backed Star Health and Allied Insurance Company made a tepid market debut today. Shares of Star Health listed at a discount of over 6% to the issue price. The firm made its debut at Rs 845 per share (down 6.11 per cent) on the NSE against the IPO issue price of Rs 900.