Star Health shares fall 7% amid Rs 347-crore block deal; check details

Shares of private health insurer Star Health Insurance and Allied Insurance Company Ltd fell nearly 7% in early trade today amid reports of a block deal on the counter.

Around 64,10,291 shares of Star Health changed hands at Rs 542.25 apiece on NSE in early deals. The value of the block deal amounted to Rs 347.6 crore, according to reports.

However, buyers and sellers in the deal were not immediately known.

Business Today could not independently verify details of the deal.

But Star Health Insurance shares slipped 6.66% to Rs 516.50 on BSE amid the block deal. They have fallen 2.79% this year.

The market cap of Star Health fell to Rs 31,020 crore on BSE. Total 0.50 lakh shares changed hands amounting to a turnover of Rs 2.64 crore on BSE.

In terms of technicals, the relative strength index (RSI) of the stock stands at 47.2, signaling it's trading neither in the overbought zone nor in the oversold zone. Star Health stock has a one-year beta of 0.3, indicating very low volatility during the period. Star Health shares are trading lower than the 5 day 10 day, 20 day, 30 day , 50 day 100 day and 200 day moving averages.

Incorporated in 2005, Star Health offers coverage options for retail health, group health, personal accidents and overseas travel insurance.