News for Star Cement Limited (STARCEMENT.NS)

Clinker Production: 6.42 lakh tonnes in Q3 FY25 vs. 7.37 lakh tonnes in Q3 FY24.Cement Production: 10.82 lakh tonnes in Q3 FY25 vs. 9.81 lakh tonnes in Q3 FY24

Feb 06, 2025 / 10:30AM GMTOperator Ladies and gentlemen, good day, and welcome to Star Cement Limited earnings call for quarter and nine months ended December 3

The company reported a 10.5% YoY and 9% QoQ growth in its domestic sales volume. Additionally, trade volume increased by 12.5% YoY, while rural sales volume rose by 13% compared to Q3FY24.

The Indian market closed 2024 with an 8% annual return, marking the ninth consecutive winning year. On the year's final trading day, Sensex dropped 109 points, and Nifty ended flat amid foreign fund outflows and IT sector weakness.

Indian markets declined on Monday, with selling pressure in banks and auto stocks. Subdued trading volumes and FII outflows weighed on sentiment. A strengthening dollar and high valuations also impacted the market. IT and pharma sectors outperformed.

"The Board of Directors of the company at its meeting held today considered the proposal and approved making an investment to acquire non-controlling minority stake up to 3.70 crore equity shares of Star Cement at a price not exceeding Rs 235 per share," UltraTech stated in a BSE filing.

In the Nifty 50 index, 37 stocks ended in the green, while 13 stocks closed in the red in today's trade.

In the Nifty 50 index, 14 stocks were trading in the green, while 36 stocks were trading in the red.

Star Cement share price: Star Cement jumped 13.66 per cent to hit a day high of Rs 222.95. The scrip was last seen trading 6.09 per cent up at Rs 208.10. At this price, it has climbed 17.64 per cent in the calendar year 2024 so far.

Stock market holiday: During the previous session on Tuesday, domestic benchmarks settled lower as energy shares dragged. The 30-share BSE Sensex pack shed 33 points or 0.04 per cent to end at 84,266. The broader NSE Nifty index edged down 14 points or 0.05 per cent to close at 25,797.

The Indian cement industry is hopeful of greener pastures after a long period of stress led by pricing pressures and other factors. The second half of FY25 is expected to bring respite due to price hikes, cost benefits and higher volumes, said analysts. The optimistic momentum also makes cement stocks attractive, analysts added, advising to buy dips following a period of bearish sentiment in these stocks.

Shares of cement companies have slid up to 19 per cent in the last four weeks on the NSE, against a 1.06 per cent jump in the benchmark Nifty50: Cement Stocks

The share of FIIs was down by 51 bps quarter-on-quarter (QoQ), resulting in the gap between FII and DII holdings narrowing further to an all-time low in this quarter. The DII holding is now just 9.23% lower than the FII holding.

The Nifty Auto index closed 1.67 per cent up at 21046.4.

The Nifty Bank index closed 0.38 per cent up at 46863.75.

Apeejay Surrendra Park Hotels shares listing: The stock opened at Rs 187 against the IPO price of Rs 155 per share on BSE. Market cap of the firm rose to Rs 3,990 crore.

The 30-share BSE Sensex climbed 107 points or 0.15 per cent to trade at 71,702, and the NSE Nifty was up 43 points or 0.20 per cent to trade at 21,826.

Sensex, Nifty updates on 25 Sep 2023: Benchmark indices Sensex and Nifty closed flat on Monday in a highly volatile trade amid a weak trend in global markets and continuous foreign fund outflows. After gyrating 461.6 points during the day, the 30-share BSE Sensex eked out a marginal gain of 14.54 points or 0.02 per cent to settle at 66,023.69. During the day, it hit a high of 66,225.63 and a low of 65,764.03. The broader Nifty settled marginally up 0.30 points at 19,674.55.

On September 15, Friday, StockEdge identified 23 stocks with RSI trending up, and ETMarkets has cherry-picked 10 of these stocks for a closer look. Discover why monitoring RSI movements is crucial for informed investment decisions.