Shares of Star Health and Allied Insurance Company were listed on NSE and BSE today with a discount of around 6 per cent. star health share price Made its debut on NSE 845 while it opened on BSE 848.8 Each level. According to stock market experts, weak listings were expected as the valuations were around 15 to 20 per cent higher. He said allottees should book losses at the current level and wait for 15 to 20 per cent correction from its upper price band Take new position for 900 and 6 month target from 1000 1100 levels.
Advise the shareholders of Star Health to book a loss at the current level; Ravi Singhal, Vice Chairman, GCL Securities said, “Allottees are advised to book losses at current levels as weak listings were widely expected. The public issue was offered at around 15 to 20 per cent higher valuations. and hence the price of the newly listed shares may go further down the insurance stock. One should take a fresh position almost over the counter 725 to 750 level target for 6 months from 1000 placing stop loss at 1100 640 levels.”
Resonating with the thoughts of Ravi Singhal; Manoj Dalmiya, Founder & Director, Proficient Equities Ltd. said, “An immediate sale is recommended for the shareholders of Star Health considering its high valuation. We are expecting Star Health Insurance share price to be similar to that of Paytm Shares. A fair valuation or a lower price is suggested.”
Star Health share price expected to improve further; Santosh Meena, Head of Research, Swastika Investmart Ltd said, “The long-term outlook for the industry and Star Health Insurance is promising so we can expect buying interest at lower levels. Those looking for fresh entrants should give some time.” Know at what level it manages to attract demand.”
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
Never miss a story! Stay connected and informed with Mint.
download
Our App Now!!
,