Star Health and Allied Insurance Company, India's largest private-sector health insurance company, on Friday made its market debut at Rs. 848.80, around 6 per cent lower than its issue price of Rs. 900 per share.
The trading in Star Health and Allied Insurance Company Ltd stock began at Rs. 848.80 at the Bombay Stock Exchange (BSE). At the National Stock Exchange (NSE) the trading opened at even lower at Rs. 845 against the issue price of Rs. 900 per share.
The poor response to Star Health listing at the stock markets, according to the analysts, is attributed to a dent in the company's profitability due to Covid-19 and expensive valuations. Weak listing of Paytm has also hit the sentiments.
Star Health share price hit a low of Rs. 827.50. However, it briefly touched a high of Rs. 940 at the Bombay Stock Exchange in the early morning trade. The scrip was trading at Rs. 901.15 at around noon.
( With inputs from ANI )
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