Turtlemint stock rises 7% after Motilal Oswal buy rating
Business
Turtlemint's stock got a nice boost today, climbing up to 7% after Motilal Oswal gave it a thumbs-up with a buy rating.
The brokerage thinks the shares could go up to ₹180, implying an upside potential of nearly 41%.
Turtlemint was trading at ₹131.40, after hitting an intraday high of ₹136.59.
Turtlemint has over 5.5L PoSPs
Motilal Oswal likes Turtlemint's focus on tech-driven insurance and sees plenty of room for growth, even though there are some regulatory hurdles ahead.
The company stands out in India's smaller cities with more than 5.5 lakh certified Point-of-Sale Persons (PoSPs) and made its market debut in June this year, even if its shares started out trading at a discount.