Shares of Star Health and Allied Insurance Company climbed over 10 percent to Rs 769 on BSE on Wednesday. With this, the company's stock has gained over 45 percent in the past one month. The S&P BSE Sensex rose 4.4 percent in comparison.

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Shares of the general insurance company is 65 percent up from its 52-week low of Rs 469 which it hit on July 1, 2022.

Also read: Star Health IPO: A SWOT (strengths, weaknesses, threats and opportunities) analysis

The stock, which is part of ace investor Rakesh Jhunjhunwala's portfolio, has dropped by over 15.5 percent against its IPO issue price of Rs 900, as of today.

Shareholding pattern data shows that Jhunjhunwala has a 14.4 percent stake while his wife Rekha Jhunjhunwala holds 3.1 percent in the firm as of the March 2022 quarter.

Brokerage firm ICICI Securities in its report released earlier this month had given a 'buy' rating to Star Health and Allied Insurance Company with a target price of Rs 700 per share in a year. This has already been met by the stock in less than one month.

Star Health's board of directors is scheduled to meet on Friday, July 29, 2022, to review and approve the unaudited and limited reviewed financial results of the company for the April-June quarter

(Edited by : Nishtha Pandey)