Home / Markets / Stock Markets /  Star Health shares list at discount. Should you buy, sell or hold?
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Shares of Star Health and Allied Insurance Company got listed today on NSE and BSE at near 6 per cent discounted price. Star Health share price made its debut on NSE at 845 whereas it opened on BSE at 848.8 apiece levels. According to stock market experts, tepid listing was expected as the valuations were around 15 to 20 per cent higher. They said that allottees should book loss at current levels and wait for 15 to 20 per cent correction from its upper price band of 900 and take fresh position for 6 month target of 1000 to 1100 levels.

Advising Star Health shareholders to book loss at current levels; Ravi Singhal, Vice Chairman at GCL Securities said, "Allottees are advised to book loss at current levels as weak listing was widely expected. The public issue was offered at around 15 to 20 per cent higher valuations and hence the share price of the newly listed insurance stock may further go down. One should take fresh position in the counter at around 725 to 750 levels for 6 months target of 1000 to 1100 keeping stop loss at 640 levels."

Echoing with Ravi Singhal's views; Manoj Dalmia, Founder & Director at Proficient Equities Limited said, "Immediate selling is recommended for Star Health shareholders considering its high valuation. We are expecting Star Health Insurance share price fall like that of Paytm shares post-listing. Buying in Star health shares at a fair valuation or lower price is suggested."

Expecting more correction in Star Health share price; Santosh Meena, Head of Research, Swastika Investmart Ltd said, "The long-term outlook for the industry and Star Health Insurance is promising therefore we can expect buying interest at lower levels. Those who are looking for a fresh entry should give some time to know at what level it manages to attract demand."

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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