India's Star Health jumps on upbeat earnings outlook; brokerages raise TP

Star Health and Allied Insurance

28/06/2024 11:08

** Shares of Star Health and Allied Insurance  STAU.NS  jump
nearly 6% to 559.8 rupees 
    ** STAU aims to double its gross written premium and triple
its profit after tax by FY28, Motilal Oswal said, citing co's
analyst call on Thursday
    ** Brokerage upbeat on STAU's overall growth prospects,
backed by strong growth in retail-health division and
specialized products 
    ** Ups TP by 38% to 730 rupees, keeps "buy" rating
    ** Emkay Global upgrades stock to "buy" from "reduce" on
increased clarity and confidence on earnings growth outlook
    ** Hikes TP to 650 rupees from 525 rupees
    ** STAU up 7.5% so far this week, on track for biggest
weekly rise since April 2023
    ** Stock gained ~4% YTD vs 16% rise in Nifty 500 index
 .NIFTY500  


 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))