Rakesh Jhunjhunwala portfolio stock: If you invest in the stock market by looking at the portfolio of Rakesh Jhunjhunwala, then this news can be useful for you. Brokerage house is bullish on Star Health Insurance (STAR) stock and is giving buy recommendation. On Thursday, the stock closed at Rs 641 with a gain of 5.29 per cent. Please tell that these stocks are included in Rakesh Jhunjhunwala’s portfolio.
Shares will go up to Rs 806
On Thursday, Star Health Insurance share price registered a sharp rise of ₹32.20 per share, increasing the net worth of Rakesh Jhunjhunwala by nearly ₹325 crore (₹32.20 x 10,07,53,935) in this stock. ICICI Securities is bullish on this share of Rakesh Jhunjhunwala. He believes that the share price of Star Health may go up to the level of Rs 806 per share from the current price of ₹ 641. That is, there is a possibility of an increase of 25 percent in it.
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What did the brokerage house say?
ICICI Securities said, “Star Health Insurance (STAR) is the leading health insurance player in India with 32% market share in the retail health insurance segment. The company has a strong network of 0.53 million agents. In addition to over 12,000 hospitals , 9MFY22 has 737 branches.”
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The brokerage further said that this company has healthy financials (18 per cent PAT CAGR in FY16-FY20 and average RoE of 15.5 per cent in FY18-FY20) and strong management. We see good potential for premium CAGR of over 20 per cent in the Indian health insurance sector by FY30. They see Star as one of its biggest gainers as well, said the ICICI Securities report.