Introduction:
Leading cement manufacturer has announced a major deal involving the sale of equity holdings by its promoters. The buyer plans to acquire up to 8.69% of the company’s shares, valued at Rs. 851 crore, with no regulatory approvals needed.
Also Read: Water management stock jumps 5% after it receives order worth ₹700 Cr in Zambia
Share price movement of Star Cement:
On December 27, 2024, Star Cement Ltd opened at ₹237.80, up 3.51% from its previous close of ₹229.75. The stock reached a high of ₹247.75 (7.85%) and a low of ₹235.40. By 10:50 AM, it traded at ₹235.75, a 2.61% increase, with a market cap of ₹9,528.55 crore.
Star Cement Announces Sale of Equity Stake to UltraTech:
Star Cement Limited has entered into a transaction with UltraTech Cement Limited, as certain promoter and promoter group entities propose to sell their equity holdings. UltraTech Cement will acquire up to 3.70 crore shares in Star Cement, valued at a price not exceeding Rs. 235 per share.
UltraTech Cement will acquire approximately 8.69% of Star Cement’s equity, with the transaction valued at Rs. 851 crore. The deal is expected to be completed within one month without requiring any government or regulatory approvals.
This sale is not considered a related party transaction and will be carried out through cash consideration. Star Cement, which posted a turnover of Rs. 2,910.66 crore as of March 2024, continues to focus on its growth in the cement sector despite the stake transfer.
Stock performance of Star Cement for Period of 1 week, 6 months and 1 year:
Star Cement Ltd has shown strong performance, with a 1-week return of 8.06%, a 6-month return of 8.95%, and an impressive 1-year return of 31.9%. This indicates steady growth and positive investor sentiment over the past year.
Also Read: Railway stock jumps 3% after it signs MoUs worth ₹89 Cr with Northeast Frontier Railway
Shareholding pattern of Star Cement:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 66.50% | 66.50% | 66.60% |
| FII | 1.40% | 1.60% | 1.50% |
| DII | 5.00% | 5.10% | 6.10% |
| Public | 27.20% | 26.90% | 25.80% |
About Star Cement:
Star Cement Limited (NSE: STARCEMENT) is one of the largest cement manufacturers in Northeast India, established in 2001. It operates plants in Meghalaya and Assam, serving a wide market through a strong dealer network and institutional clients.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
