Buy stock to buy: Star Health has partnered with the government’s CSC, after hearing the news of this partnership, there was a competition among investors to buy shares of Star Health. During trading on Tuesday, the stock reached a high of Rs 593.20, which is 7 percent higher than the day before.
Stock to Buy: Rakesh Jhunjhunwala’s portfolio company has partnered with a government company. Stock market veteran Rakesh Jhunjhunwala’s Star Health and Allied Insurance Company Limited have partnered with the government-backed Common Service Center (CSC). As soon as the news of this partnership spread in the market, there was competition among investors to buy shares of Star Health and Allied Insurance. And because of this, the company’s share price climbed up to 7 percent during trading on Tuesday. In other words, the news of the government cooperation has spurred stock purchases.
Know what is partnership?
Actually, Common Service Center (CSC) and Star Health and Allied Insurance under the Ministry of Electronics and Information Technology are working together on a new project. Under this, both the companies have jointly planned to reach a large segment of health insurance products. Under this, insurance products will be delivered to rural customers in addition to Tier-2, and Tier-3 cities. It is worth noting that at present there are more than 5 lakh Common Service Centers in the country, which are going door to door to take advantage of the government’s scheme. The insurance company will be able to sell the product through all these centers.
Why did the partnership happen?
The relationship with Common Service Centers, according to Anand Roy, Managing Director of Star Health and Allied Insurance Company, would make it simpler to access village-to-village health insurance solutions that address the unique requirements of those living in rural India. In fact, this will prove to be a big step toward our endeavor to provide more options for the company.
Race to buy shares
Following this alliance, investors are competing to purchase shares of Star Health and Allied Insurance Company. During trading on Tuesday, the stock reached a high of Rs 593.20, which is 7 percent higher than the day before. The market capitalization of this corporation is currently 34 thousand crores. Not only that but Star Health is promoted by seasoned investor Rakesh Jhunjhunwala. As of the March 2022 quarter, Rakesh Jhunjhunwala holds 14.40 percent and his wife Rekha Jhunjhunwala holds 3.11 percent.
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