Abhishek Securities

  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...

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...