Abhishek Securities

  If health insurers have been some of top beneficiaries of Covid-19  pandemic , then this company has been an out-and-out winner. Its shares have quadrupled in the  unlisted space  in last one-and-a-half year. Care Health  Insurance  is the new avatar of Religare Health Insurance.  Religare Enterprises   NSE -0.77 %  informed bourses earlier this month that it has changed the name of its health insurance subsidiary to Care Health Insurance. But the firm emerged as a star performer even before that. Dealers of unlisted shares said the stock, which debuted at Rs 26-28 in early 2019, used to trade at Rs 35-40 at the start of 2020. They have since risen to Rs 100-105. They see even more upside. Jasbir Singh of Meera Associates, a Pune-based firm that deals in unlisted shares in the unofficial market, said the name change was on the cards, as the firm's ownership changed in June 2020. "As the company decided to shun the name of previous pro...

  Religare  Health Insurance  on Tuesday said it has re-branded itself as Care   Health Insurance. The rebranding is aimed at further building on opportunities to deliver the best possible 'Care' to its consumers, the company said in a release. Rebranding itself as Care Health Insurance, the company said that despite the name change, all service and product offerings remain the same, backed by the founding management team. Besides, the company has changed its logo with a tagline 'Health ki Guarantee'. Rashmi Saluja, Executive Chairperson of  Religare  Enterprises Limited said, "we have always believed 'Care' lies at the centre of everything we do as a  health insurance  specialist". "This comprises ensuring customers' easy access to quality healthcare, broadening the spectrum of overall 'Care' beyond hospitalisation to include preventive health check-ups, wellness, doctor consultations, diagnostics and home care," Saluja said. The...

  Religare Enterprises on Thursday said it has changed the name of its health insurance subsidiary to Care Health Insurance. “Name of  Religare Health Insurance Company Ltd , subsidiary of the company, has been changed to Care Health Insurance Ltd with effect from August 19, 2020,”  Religare Enterprises  said in a regulatory filing.   It did not provide any reason for changing the name of its subsidiary. Stock of  Religare Enterprises  closed at Rs 35.20 apiece on  BSE , down 0.14 per cent from its previous close. Sandip Ginodia , CEO   A LTIUS INVESTECH PVT LTD   We deal in over 60 unlisted companies with 15 years of experience  For latest prices visit :  www.abhisheksecurities.com/unlisted.htm  / call : 09830271248 . Email :  ginodiasandip1@gmail.com

With three of the four Religare Group entities having achieved turnaround since 2018, Religare Finvest Ltd. — the NBFC arm of listed holding firm Religare Enterprises Ltd. (REL) — is heading for a resolution in two quarters, a top company executive said. The resolution of this hardest hit of the Religare group’s firms includes debt restructuring, roping in a new investor, and recovering substantial dues from the erstwhile promoters Malvinder and Shivinder Mohan Singh, who had allegedly siphoned off funds and are currently in jail. “The debt restructuring proposal of ₹4,000 crore loan is currently with the committee of creditors for REL, and it is expected to get approval soon,” said Nitin Aggarwal, Group CFO, REL. “We are also close to getting a strategic investor with the approval of the regulator. Talks with a few investors are proceeding positively and resolution is expected in two quarters,” he said. In March this year, TCG Advisory Pvt. Ltd., a part of The Chatterjee Group, was se...

The Covid-19 pandemic has burnt a deep hole in the pockets of most health insurers: some Rs 600 crore a month hit on Indian players, and a cumulative $200 billion hit on the industry globally. Had domestic health insurers been listed on stock exchanges, their stocks would have possibly taken a hard knock. Right? Not quite. Unlisted shares of a domestic health insurer have been having a dream run in the unlisted market, the unofficial market for trading in such stocks: it has doubled in last six months and trebled in last year and a half. The company is Religare Health Insurance, the lone candidate from the sector with no peer in either listed or unlisted space. State-owned The New India Assurance, which also offers health insurance alongside other general insurance products, is the only comparable player allowing equity investors exposure in the listed space. The stock has surged 50 per cent since the March mayhem, but is down 15 per cent for the calendar. Looks like investors are bett...