Shares of Star Cement Ltd gained nearly 3% on March 18, 2025, after the company announced that its subsidiary, Star Cement Meghalaya Ltd, was declared the preferred bidder for a limestone block in Assam.
Key Developments
- Star Cement Meghalaya Ltd secured the Boro Hundong limestone block in Dima Hasao, Assam, through an e-auction conducted by the Government of Assam.
- The block spans 400 hectares and holds an estimated 146.75 million tonnes of limestone reserves.
- This strategic acquisition is expected to enhance Star Cement’s raw material sourcing and strengthen its market position in the North-Eastern region.
Stock Performance & Market Position
- Current Price: ₹208.82
- Previous Close: ₹203.85
- Day’s Range: ₹207.50 – ₹211.00
- Market Cap: ₹84.47B
- P/E Ratio: 63.29
Recent Developments in Star Cement
- Last year, UltraTech Cement acquired an 8.69% stake in Star Cement from its promoter group for ₹851 crore at ₹235 per share.
- Star Cement reported an annual turnover of ₹2,910 crore in FY24 and commands a 26.5% market share in the Northeast cement market.
- The company has a 7.7 MTPA grinding capacity and 6.1 MTPA clinker capacity.
- It is expanding operations with two upcoming units in Silchar and Jorhat, Assam, and has earmarked ₹380 crore in capital expenditure for H2 FY25.
This acquisition strengthens Star Cement’s resource base and aligns with its long-term growth strategy in the Northeast market.
