Star Cement rose 1.09% to Rs 129.70 at 11:02 IST on BSE after the company alongwith its subsidiaries received Rs 80.26 crore towards subsidies claim from the Central Government.
The announcement was made after market hours yesterday, 10 April 2018.Meanwhile, the S&P BSE Sensex was down 25.03 points, or 0.07% to 33,855.22.
On the BSE, 9,585 shares were traded in the counter so far, compared with average daily volumes of 12,000 shares in the past two weeks. The stock had hit a high of Rs 134.70 and a low of Rs 127.75 so far during the day. The stock hit a record high of Rs 151.35 on 9 January 2018. The stock hit a record low of Rs 102 on 9 October 2017.
Star Cement said that the company alongwith its subsidiaries have received Rs 80.26 crore towards subsidies claim from the Central Government and this amount shall be utilized towards pre-payment of loans.
On a consolidated basis, Star Cement's net profit surged 172.97% to Rs 91.39 crore on 10.13% rise in net sales to Rs 377.43 crore in Q3 December 2017 over Q3 December 2016.
Star Cement is the largest cement manufacturer in north east India. The company's product range includes Ordinary Portland Cement (OPC 43-Grade) and (OPC 53-Grade) and Portland Pozzolana Cement (PPC).
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