Star Health Stock Hits New Low: Key Points
- 📉 New Low: Stock price hits ₹339.85, down 2% on BSE during intraday trade, marking a 7% fall over the last 3 days.
- 🔍 Regulatory Concerns: The decline follows reports that IRDAI identified lapses in the company’s claims settlement practices, with potential regulatory action.
- 📰 Company’s Statement: Star Health clarified that IRDAI’s audits are routine processes to ensure industry compliance and have not received any official communication regarding the matter.
- 📉 Two-Month Decline: The stock has fallen 25% in the last two months.
- 🏦 52-Week Low: Star Health is 47% down from its 52-week high of ₹647.65 (September 2024).
- 💸 Below Issue Price: Currently 62% below its IPO price of ₹900, since its debut in December 2021.
- 🔍 Ongoing Investigation: IRDAI’s review focuses on claim repudiations, deductions, and policyholder queries, but no action has been reported yet.
- 📈 Partial Recovery: By 10:18 AM, the stock recovered slightly, trading 1% higher at ₹350.45.
- ⚖️ Investor Sentiment: Potential regulatory action could affect valuations and investor sentiment, according to ICICI Securities.
