Shares of Star Cement Ltd surged 3% on 18 March after the company announced that its subsidiary, Star Cement Meghalaya Ltd, was declared by the Assam government as the “preferred bidder” for the composite license of the Boro Hundong limestone block. 

In its regulatory filing, the company said, “This is to inform you that the M/s Star Cement Meghalaya Limited, a Subsidiary of the Company, has been declared as the ‘Preferred Bidder’ for the Composite License of Boro Hundong Limestone Block in e-auctions conducted by the Government of Assam.”

The aforementioned 400-hectare block is situated in the Assamese district of Dima Hasao (formerly known as North Cachar Hills) and is expected to have 146.75 million tonnes of limestone.

Recently, Star Cement proposed a Rs 3,200-crore cement clinker and grinding plant in Assam.

Earlier on Wednesday, on the final day of the Advantage Assam business summit, Chief Minister Himanta Biswa Sarma announced that a Memorandum of Understanding (MoU) had been signed between the company and the state government.

In addition, the state government and Matheson Hydrogen Lvt Ltd signed a contract for the establishment of a hydrogen and steam-producing facility worth Rs 1,500 crore.

The state government also signed two non-monetary agreements with ITE Education Service and a Memorandum of Understanding with Global Health Ltd. for Rs 500 crore.
 
Star Cement, an Indian cement manufacturer, is well known for producing high-quality cement for use in both residential and commercial structures.  Based in eastern India, the company is renowned for its substantial presence in Meghalaya, West Bengal, and Assam.  Star Cement produces a range of cement products, including Ordinary Portland Cement (OPC), Portland Pozzolana Cement (PPC), and Portland Slag Cement (PSC), to satisfy various construction needs.

At 11:45 am, the shares of Star Cement were trading 2.52% higher at Rs 208.99 on NSE.

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