Star Health Q3 Results Today: Analysts Expect High Claim Ratio, Advise Holding

Star Health Q3 Results Today: Analysts Expect High Claim Ratio, Advise Holding

VoM News Desk | January 30, 2024 | 12:24 PM IST | Breaking News | Follow on Google News

Star Health Q3 Results Today: Analysts Expect High Claim Ratio, Advise Holding

Star Health Q3 Results Today: Analysts Expect High Claim Ratio, Advise Holding

Star Health and Allied Insurance Company Ltd are set to declare Q3 results today, prompting market observers to closely monitor its share price. The stock opened positively, reaching an intraday high of ₹567.75, indicating a 2% rise from the previous close.

Market Experts Predictions and Recommendations

Analysts expect the high insurance claim ratio to persist in Q3 2023. Despite this, growth in the gross written premium is anticipated. Stock market experts advise Star Health shareholders to hold the stock, targeting a short-term level of ₹600.

StoxBox Analyst Shreyansh V. Shah’s Perspective on Q3FY24 Performance

Shreyansh V. Shah, a Research Analyst at StoxBox, anticipates a subdued Q3FY24 due to the continuation of a high claim ratio impacting profitability. The change in incentive structure for the agency channel in Q2FY24, aimed at improving business quality, might result in a decline in new business.

Star Health Share Price Outlook

Sumeet Bagadia, Executive Director at Choice Broking, sees a positive chart pattern for Star Health shares. The stock has established a strong base around ₹545 and is expected to reach ₹590 to ₹600 in the near term.

Star Health Shareholding Pattern Q3FY24

Aditya Birla Sun Life holds 1.12% of Star Health shares, totaling 65,45,661 shares. ICICI Prudential Life Insurance Company owns 1.86% of the total share capital, equivalent to 1,09,06,165 shares.

As Star Health prepares to reveal its Q3 results, analysts provide insights and recommendations for investors to navigate the evolving dynamics in the insurance sector.

VoM News Desk

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