Rakesh Jhunjhunwala's company Star Health And Allied Insurance partnership with the government, investors rush to buy shares
By Lokmat English Desk | Published: July 12, 2022 07:35 PM2022-07-12T19:35:50+5:302022-07-12T19:35:50+5:30
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Rakesh Jhunjhunwala has entered into a partnership with the government-backed Common Service Center (CSC). As soon as the news of this partnership spread in the market, there was a competition among the investors to buy the shares of Star Health and Allied Insurance. And due to this, the company's share price climbed up to 7 percent during trading on Tuesday.
Common Service Centers (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 together have planned to reach a large section of health related insurance products.
Under this, insurance products will be delivered to rural customers apart from Tier-II, Tier-III cities. It is worth noting that at present there are more than 5 lakh Common Service Centers in the country, which are taking the government's scheme from door to door. The insurance company will be able to sell the product through all these centers.
Anand Roy, Managing Director, Star Health and Allied Insurance Company said that the partnership with Common Service Centers will make it easier to reach village-to-village health insurance products that meet the specific needs of people in rural India. In fact, this will prove to be a big step in our endeavor to provide more options for the company.
After this partnership, there is a competition among investors to buy shares of Star Health and Allied Insurance Company.
During trading on Tuesday, the stock reached a high of Rs 593.20, which is an increase of 7 percent compared to the day before.
At the same time, the market capital of this company is at the level of 34 thousand crores.
. Not only this, veteran investor Rakesh Jhunjhunwala is the promoter of Star Health. As of the March 2022 quarter, Rakesh Jhunjhunwala holds 14.40 percent and his wife Rekha Jhunjhunwala holds 3.11 percent.
