Star Cement rose 5.49% to Rs 105.60 at 9:23 IST on BSE after the company said it received Rs 115.18 crore towards its freight subsidy claims from the Central Government.
The announcement was made after market hours yesterday, 13 March 2019.Meanwhile, the S&P BSE Sensex was up 146.67 points, or 0.39% to 37,898.84.
On the BSE, 5437 shares were traded in the counter so far compared with average daily volumes of 3662 shares in the past two weeks. The stock had hit a high of Rs 109.90 and a low of Rs 105 so far during the day. The stock hit a 52-week high of Rs 137.25 on 25 May 2018. The stock hit a 52-week low of Rs 85 on 29 October 2018.
Star Cement has received Rs 115.18 crore towards its freight subsidy claims from the Central Government and a further amount of Rs 42.55 crore is expected to be received within a week's time.
On a consolidated basis, net profit of Star Cement declined 8.43% to Rs 83.69 crore on 10.33% rise in net sales to Rs 416.43 crore in Q3 December 2018 over Q3 December 2017.
Star Cement is the largest cement manufacturer in north east India.
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