जेफरीज ने स्टार हेल्थ पर 650 रुपये के लक्ष्य के साथ 'बाय' दोहराया, परिचालन रिकवरी का हवाला

जेफरीज ने स्टार हेल्थ एंड एलाइड इंश्योरेंस कंपनी लिमिटेड पर अपना 'बाय' कॉल दोहराया है, और 650 रुपये का मूल्य लक्ष्य तय किया है, जो मौजूदा स्तरों से काफी ऊपर की क्षमता का संकेत देता है। ब्रोकरेज फर्म ने बताया कि स्टार हेल्थ के सितंबर तिमाही के नतीजों ने परिचालन प्रदर्शन में सुधार का संकेत दिया है, जिसका मुख्य कारण नुकसान अनुपात (loss ratio) में कमी और प्रीमियम की गति में निरंतरता रही। A key positive noted was the 130 basis-point year-on-year improvement in the loss ratio, bringing it down to 71.5%. The company's combined ratio, which measures underwriting profitability (loss ratio plus expense ratio), also improved to 101.8% on a like-for-like basis, moving closer to underwriting breakeven. Halanki, quarter ka reported profit after tax (PAT) Rs 54.9 crore raha, jo pichhle saal ke Rs 109.4 crore se kam hai. Iska reason tha long-term policies mein 30% sequential growth se judey around Rs 150 crore ke upfront costs, jinko accounting norms ke tahat turant recognize kiya jata hai. Despite the lower reported profit, core insurance metrics showed strength. Gross Written Premium (GWP) increased to Rs 4,371 crore from Rs 4,238 crore in the previous quarter, and Net Earned Premium (NEP) climbed to Rs 3,704 crore, indicating continued traction in Star Health's dominant retail segment. Investment income was slightly below expectations, but the core insurance metrics like loss ratio, commission, and operating costs showed the improvements the market was looking for. Jefferies expects premium growth to continue, driven by retail health penetration and product mix shifts. They anticipate a gradual recovery in combined ratios as the front-loaded costs normalize and loss ratios remain stable. Impact: Yeh news Star Health & Allied Insurance ke liye positive outlook dikhati hai, jismein Jefferies ki taraf se strong Buy recommendation aur considerable price target hai. Investors ise potential stock appreciation ka signal maan sakte hain, agar company apni growth strategy ko execute karti hai aur claims ko effectively manage karti hai. Operational recovery aur sustained premium growth par focus improved profitability aur potential valuation re-rating ki taraf ek rasta dikhata hai.