India's Star Health up on stake buy by multiple funds, positive outlook

Star Health and Allied Insurance

29/08/2023 08:46

** Shares of Star Health and Allied Insurance Company
 STAU.NS  rise as much as 3.63%, most intraday pct gain in two
months, to 633.35 rupees apiece
    ** Fidelity Investment Trust, Fidelity Series Emerging
Markets Fund and ICICI Prudential Life Insurance Co picked up
stake in the company through open market transactions on Monday
    ** Madison Capital and University of Notre Dame sold shares
through bulk deals, exchange data showed
    ** Insurance co, in annual report, says it sees significant
growth opportunity from rural and semi-urban geographies as only
30% of gross written premiums in FY2023 were derived from
non-urban locations
    ** Trading volume is 884,313 shares as of 1:02 p.m. IST, 1.5
times the 30-day avg - Refinitiv data
    ** STAU up 11% in 2023 so far, including today's gains

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