**Shares of India's Star Health and Allied Insurance STAU.NS fall 5.88% to 465.55 rupees
**Insurance co's quarterly PAT halves compared to same quarter last year
**Motilal Oswal ("Buy") says premium growth has been subdued, largely owing to the impact of long-term premium accounting and expects GST exemption to improve the growth trajectory for the business
**Co's quarterly net premium earned rises by 10.2% to 40.81 billion rupees
**Stock rated as "Buy" on average by 20 analysts; median PT at 490 rupees as per data compiled by LSEG
**More than 1.71 million shares change hands vs 30 day average of 955,356 shares
**YTD, stock down 2.08%
(Reporting by Mridula Kumar in Bengaluru)
((mridula.kumar@thomsonreuters.com))