Star Cement spurts on buyback plan

Star Cement rose 8.69% to Rs 127 at 13:31 IST on BSE after the company said its board will meet on 21 June 2019 to consider buyback of equity shares.

The announcement was made during market hours today, 18 June 2019.

Meanwhile, S&P BSE Sensex was up 31.02 points or 0.08% at 38,991.81 .

On BSE, 40,000 shares were traded in Star Cement counter, compared to a 2-week average of 14,000 shares. The share price hit an intraday high of Rs 131.90 and an intraday low of Rs 115.10. It hit a 52-week high of Rs 137.60 on 6 June 2019 and a 52-week low of Rs 85 on 29 October 2018.

 

Star Cement's consolidated net profit fell 16.76% to Rs 89.78 crore on a 1.33% rise in net sales to Rs 534.43 crore in Q4 March 2019 over Q4 March 2018.

Star Cement is the largest cement manufacturer in North East India.

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