India's Star Health up 3% on reporting Q4 profit

Star Health and Allied Insurance

02/05/2023 10:42

** Shares of Star Health and Allied Insurance  STAU.NS  rise
as much as 3.16% to 609.90 rupees, highest in over four months
    ** Uptick after the insurance services provider reports net
profit after tax (PAT) of 1.02 bln rupees in April quarter
compared to a loss of 820.4 mln rupees YoY
    ** Net premium earned grows 11% to 29.13 bln rupees in Q4 
    ** Growth to drive rating of STAU, says HDFC Securities and
reiterates "buy"
    ** Expects STAU to deliver a rebound in growth, supported by
a price hike in flagship product - Family Health Optima (FHO) 
    ** Tighter underwriting and claims review process to also
aid growth 
    ** Trading volume is 652,315 shares as of 3:06 p.m. IST,
1.2x the 30-day avg - Refinitiv data
    ** Of the 17 analysts tracking STAU, 11 maintain "buy", five
suggest "sell" and one recommends "hold"; median TP is 692.50
rupees

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))