The hacker behind Star Health's data breach says they sent bullets and threats to top executives over denied claims
Indus Towers, Godrej Agrovet, Phoenix Mills, Ajanta Pharma and Star Health stocks dropped up to 12% in intra-day deals on Friday; here are the key levels to track on these 5 stocks.
The stock price of the general insurance company hit a new low of ₹339.85, falling 7% in three days on reports that the IRDAI has identified lapses in the company's claims settlement practices
Company calls it a routine exercise to ensure compliance
Technically, this Rakesh Jhunjhunwala-backed stock is seen headed towards its monthly trend line support; break of the same can invite a further fall at the counter. Check key levels here.
The company currently has over 70 partners in the bancassurance business, including state-owned banks, private banks, and non-banking finance companies
Star Health reported an 11 per cent drop in profit after tax (PAT) to Rs 111 crore during the quarter ended September 30, down from Rs 125 crore in the corresponding quarter last year
The fall in insurer's share price came after the company announced that the Insurance Regulatory and Development Authority of India (Irdai) has issued a show cause notice for violating norms
The company must provide a reply within 21 days from the date of receipt of the notice, along with the supporting documents
Previously, Star Health and Allied Insurance had to launch a forensic investigation, led by independent cybersecurity experts, into a cyberattack it was subjected to
Star Health and Allied Insurance Company shares hit a 52-week low of Rs 463, down 4% in intra-day deal and trading near its all-time low of Rs 451.10 hit on January 30, 2023.
Star Health's total expenses also increased 18.7 per cent to Rs 3,898.58 crore in the quarter under review as compared to Rs 3,283.99 crore
In August, Star Health faced a data leak, where stolen customer data including medical reports, were publicly accessible via chatbots on messaging app Telegram and through websites
Recently, there was a data breach at Star Health & Allied Insurance's servers and reportedly sensitive data of 31 million customers were put up for sale
The company, whose shares have declined 11 per cent, has launched internal investigations and has taken legal action against Telegram and the hacker
Investigation comes after the hacker, an individual dubbed xenZen, publicly asserted on his website that the executive had 'sold all this data to me'
The hacker, xenZen, accused Star Health Insurance of directly selling the sensitive data to them
A data breach recently at Star Health's servers reportedly put up for sale on the messaging platform Telegram sensitive data of 31 million customers, amounting to an estimated 7.24 terabytes
While it's unclear if the website was made by the same individual Star Health sued, the hacker claims that a senior Star Health official sold the data and later tried to renegotiate terms