India's Star Health falls on show-cause notice from regulator

Star Health and Allied Insurance

09/12/2024 04:17

** Shares of health insurer Star Health And Allied Insurance
 STAU.NS  fall 3% to 488.7 rupees
    ** Co on Friday said it got a show-cause notice from
Insurance Regulatory and Development Authority of India 
    ** Notice comes after IRDAI's inspection (Jan 31–Feb 11,
2022) on co revealing non-compliance with its regulations and
guidelines
    ** Stock set to fall for a second straight session
    ** Avg rating of all analysts covering STAU is "buy" and
median PT is 600 rupees, ~20% higher than current price - LSEG
data
    ** STAU down ~10% YTD

 (Reporting by Yagnoseni Das in Bengaluru)
 ((Yagnoseni.Das@thomsonreuters.com;))