Shares of Star Cement Ltd rose 2% to touch a day’s high of Rs 286.56 on 25th August, after the firm said its subsidiary, Star Cement North East Limited, has been declared the ‘Preferred Bidder’ for the Parewar (SN-IV) limestone block in Rajasthan.

Star Cement North East Ltd, a subsidiary of Star Cement, has been declared the preferred bidder for a limestone block in Jaisalmer, Rajasthan. The block, located in Village Joga, spans 960 hectares. It has an estimated resource of 271.38 million tonnes. The mining lease, once clearances and agreements are in place, will strengthen the company’s long-term raw material security.

Star Cement, headquartered in Meghalaya, reported a turnover of Rs 2,910 crore in FY2024. It has a grinding capacity of 7.7 MTPA and a clinker capacity of 6.1 MTPA. This is supported by a dealer network of nearly 2,000 and over 12,500 retailers.

In the north-east market, the company holds a 26.5% share, with premium sales contributing 10.6% of overall sales. It also has two upcoming units in Silchar and Jorhat, Assam. Plus, there is a capex plan of Rs 380 crore for the second half of the current financial year.

At 3:18 PM, the shares of Star Cement were trading 2.11% higher at Rs 282.56 on NSE.

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