Star Health & Allied Insurance Company Ltd Share Price – NSE /  BSE

Insurance, Small Cap

KIOCL Ltd, Sun TV Network Ltd, Rainbow Childrens Medicare Ltd, Poly Medicure Ltd are among the other stocks to see a surge in volumes on BSE today, 04 November 2024.

Star Health & Allied Insurance Company Ltd witnessed volume of 92351 shares by 10:47 IST on BSE, a 3.8 times surge over two-week average daily volume of 24287 shares. The stock dropped 3.80% to Rs.493.15. Volumes stood at 8336 shares in the last session.

KIOCL Ltd notched up volume of 19145 shares by 10:47 IST on BSE, a 3.53 fold spurt over two-week average daily volume of 5423 shares. The stock slipped 5.84% to Rs.316.00. Volumes stood at 354 shares in the last session.

Sun TV Network Ltd clocked volume of 27212 shares by 10:47 IST on BSE, a 3.19 times surge over two-week average daily volume of 8520 shares. The stock lost 3.00% to Rs.734.05. Volumes stood at 6421 shares in the last session.

Rainbow Childrens Medicare Ltd clocked volume of 38289 shares by 10:47 IST on BSE, a 2.47 times surge over two-week average daily volume of 15530 shares. The stock gained 3.14% to Rs.1,598.20. Volumes stood at 9697 shares in the last session.

Poly Medicure Ltd notched up volume of 27974 shares by 10:47 IST on BSE, a 2.06 fold spurt over two-week average daily volume of 13567 shares. The stock slipped 7.95% to Rs.2,911.35. Volumes stood at 23340 shares in the last session.

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Profit before tax for Q2 FY25 dropped to Rs 148.80 crore, down 10.96% from Rs 148.80 crore in Q2 FY24.

Total expenses gained 18.71% to Rs 3,898.58 crore in Q2 FY25 over Q2 FY24. Net commission was at Rs 548.86 crore (up 12.73% YoY) while other expense stood at Rs 156.40 crore (up 15.68% YoY) during the period under review.

Anand Roy, MD and CEO of Star Health and Allied Insurance stated, At Star Health, we are committed to bringing innovative, affordable products to all socioeconomic segments of society, leveraging technology and robust partnerships with healthcare providers to enhance service delivery.

By introducing modular plans that adapt to customers' needs across life stages, allowing for customization and scalability - and expanding our inclusive offerings, we have strengthened our reach across key segments. We remain laser-focused on ensuring accessible and affordable health insurance for every Indian, especially in underserved markets.”

Star Health Insurance is a standalone health insurer, offering a variety of products including health, personal accident, and travel insurance. The company has a strong distribution network and have settled over 1 crore claims. In FY24, they reported a gross written premium of Rs 15,254 crore and a net worth of Rs 6,339 crore.

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Net profit of Star Health & Allied Insurance Company declined 11.18% to Rs 111.29 crore in the quarter ended September 2024 as against Rs 125.30 crore during the previous quarter ended September 2023. Sales rose 15.54% to Rs 3703.88 crore in the quarter ended September 2024 as against Rs 3205.58 crore during the previous quarter ended September 2023.

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According to the media reports, the hacker responsible for the breach listed the stolen data for sale on the dark web, making shocking allegations against Star Health's Chief Information Security Officer (CISO). The hacker claimed the CISO was involved in selling the data and later attempted to extort more money for backdoor access.

In response to the incident, Star Health has reported the matter to relevant regulatory authorities and initiated a thorough forensic investigation. The company has defended its CISO, stating that he is cooperating with the investigation and no wrongdoing has been found.

To prevent further dissemination of the stolen data, Star Health has sought an injunction against messaging platform Telegram and IT management service company Cloudflare in the Madras High Court. The company aims to restrict the sharing and distribution of its customers' sensitive information.

The cyberattack has raised serious concerns about the security measures in place at Star Health and the potential risks faced by its customers. As the investigation continues, it remains to be seen how the company will address the data breach and mitigate future risks.

Star Health Insurance is a standalone health insurer, offering a variety of products including health, personal accident, and travel insurance. The company has a strong distribution network and have settled over 1 crore claims. In FY24, they reported a gross written premium of Rs 15,254 crore and a net worth of Rs 6,339 crore.

Net profit of Star Health & Allied Insurance Company rose 10.80% to Rs 318.93 crore on 15.66% increase in net sales to Rs 3520.32 crore in Q1 June 2024 over Q1 June 2023.

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