ICICI Direct has given Buy recommendation for Star Health and Allied Insurance with a target price of Rs. 825 in its research report issued on May 04, 2022

ICICI Direct’s research report on Star Health and Allied Insurance

Star Health is the largest standalone insurer engaged in health insurance segment with relatively superior market share, operating performance. Star Health is a market leader in the retail health insurance segment with ~33% market share, as of March 2022 • Star Health has 807 branches and 12000+ network hospitals, with a presence in 25 states and five union territories.

Outlook

We maintain BUY rating on the stock. We value Star Health at ~2.6x FY24E GDPI (53x FY24E EPS) at | 825, considering two metrics – price to premium (GWP) and price to float.

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