Jhunjhunwala Portfolio: Rekha Jhunjhunwala (Rekha Jhunjhunwala) The insurance giant Star Health, which is included in the portfolio, slipped to an annual record low a few days ago. After that, however, it recovered and did so in just four days Star Health and Allied Insurance Shares rose more than 15 percent. Domestic brokerage firm HDFC Securities is so bullish on its quarterly results that it issues a buy rating. According to market experts, you can earn 54% profit by investing at the current price. Its shares are up 3.38 percent today at Rs.517.85 on the BSE.Star Health stock price) are closed. Rekha Jhunjhunwala holds 1,78,70,977 shares, representing a 3.1 percent stake.
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Why do brokers rely on Star Health?
The December quarter of 2022 was better than expected for Star Health. Net Earned Premium (NEP) increased 15 percent year over year. The claims ratio even surprised positively and was 63.7 percent. The lower this ratio, the more profitable the insurance company is. Star Health is the largest standalone health insurer in the country, accounting for approximately 33 percent of retail BIPI (Gross Direct Premium Income) for the first nine months of the current fiscal year 2022-23, April-December 2022.
Domestic brokerage firm HDFC Securities has upgraded its FY23-FY25 earnings estimates given its improving loss-to-weight ratio. The brokerage firm estimates that its net income will grow 26 percent and revenue will grow at a CAGR (compound annual growth rate) of 21 percent in fiscal 2023-25. Hence, the brokerage firm has kept its buy rating with a target price of Rs 795.
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Shares are available at a 35% discount
Star Health shares were priced at 798 rupees on February 11, 2022 last year. This is a record high for a year. However, amid selling pressure, it fell 43 percent in a year to 451.10 rupees on Jan. 30, 2023, a one-year record low. Then the buying trend returned and has recovered 15 percent so far. However, it is still at a 35 percent discount from its one-year high.
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