External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

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External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Capitalising on an early-mover advantage and significant regulatory arbitrage, STARHEAL is positioned as the largest standalone health insurer (FY22:33% market-share), anchored on an extremely strong and highly productive agency-dominated distribution network and retail-dominated business mix (FY22: ~90% of GDPI)</li><li>Despite potential regulatory convergence, we believe that STARHEAL has meaningful headroom to pivot to a high-quality franchise, translating into better quality of earnings</li><li>Having aced the agency channel, we argue that the company now needs to build a credible banca strategy in order to sustain its lead in the long term.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Capitalising on an early-mover advantage and significant regulatory arbitrage, STARHEAL is positioned as the largest standalone health insurer (FY22:33% market-share), anchored on an extremely strong and highly productive agency-dominated distribution network and retail-dominated business mix (FY22: ~90% of GDPI)Despite potential regulatory convergence, we believe that STARHEAL has meaningful headroom to pivot to a high-quality franchise, translating into better quality of earningsHaving aced the agency channel, we argue that the company now needs to build a credible banca strategy in order to sustain its lead in the long term.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Star Health and Allied Insurance - Bellwether Health Insurer with Inimitable Moats