India's Niva Bupa rises on ICICI Securities 'buy' rating

Niva Bupa Health Insurance

16/04/2025 09:50

** Shares of Niva Bupa Health Insurance NIVA.NS rise as much as 3.4% to 77.10 rupees

** ICICI Securities starts with "buy" and 90 rupees PT, implying a 21% upside to stock's last close

** Says NIVA to benefit from India's under-penetrated health insurance market, noting retail market share gains from 4% in FY19 to 9.4% in 11MFY25, with ~40% gross written premiums CAGR

** Expects profit to improve from 0.8 bln rupees ($9.3 mln) in FY24 to 1.6-2.2 bln rupees in FY25-27

** Since listing in November last year, stock is down 2.4%

 ($1 = 85.6660 Indian rupees)

 (Reporting by Ashish Chandra in Bengaluru)

 ((ashish.chandra@thomsonreuters.com (+91 7982114624))