On Tuesday, the price of one share of Star Health was seen at Rs 724. On the other hand, the stock of Escort Kubota saw a decline of 7 percent in the initial trade. Star Kubota is a tractor manufacturing company.
Star Health Insurance shares are seeing a rally (Indicative Image)
Here we will know about the pros and cons of two stocks related to stock trader and country’s renowned investor Rakesh Jhunjhunwala. One share is Star Health Insurance while the other is Escort Kubota. in star health Rakesh Jhunjhunwala On the other hand, Escort Kubota has suffered losses. Star Health is the promoted stock of Rakesh Jhunjhunwala which has given profit in the June quarter. It was showing a decline in the last seven quarters. On Tuesday, the price of one share of Star Health was seen at Rs 724. On the other hand, the stock of Escort Kubota saw a decline of 7 percent in the initial trade. Star Kubota is a tractor manufacturing company.
Rakesh Jhunjhunwala holds 14.39 percent stake in Star Health Insurance while his wife Rekha holds 3.10 percent stake in this company. This shareholding report is till 30 June. After several consecutive months of decline, this stock is seeing a rise since Monday. The stock of Star Health has now climbed up to 51% after a fall of the last 52 weeks. On Monday, the price of this share was around Rs 710, while on Tuesday the price of one share was seen at Rs 724. Rakesh Jhunjhunwala and his wife hold 17.49 percent in Star Health Insurance.
BofA Securities has increased the target price of Star Health from Rs 935 to Rs 940 while CLSA has reduced it to Rs 760. ICICI Securities has increased the target price of Star Health from Rs 700 to Rs 858 based on the health insurance growth outlook. Motilal Oswal has estimated its fair price at Rs 850, Elara at Rs 775 and Emkay at Rs 945.
On the other hand, the share price of Escort Kubota has seen a decline of 7 percent. Even in the June quarter, this company did not do very well and in July there was a decrease in sales. The company reported a decline of 20.35 per cent in net profit at Rs 147.5 crore for the quarter ended June 30, 2022 as compared to a profit of Rs 185.2 crore in the corresponding quarter of the previous financial year. In July this year, Escort Company sold 5360 tractors, which was 18.3% less than the previous year. Tractor sales have decreased in the domestic market, but exports have seen a boom. On Tuesday, the share price of this company was Rs 1604.50.
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