India's Star Cement gains on capacity expansion plans

Star Cement

21/08/2024 09:47

** Shares of Star Cement  STAT.NS  up 2.4% at 223.96 rupees
after co announces capacity expansion plans
    ** Co, which serves markets in eastern India, plans to raise
production capacity to 12 MTPA from current 7.67 MTPA by FY27
    ** Cement maker's stock up for fourth straight session
    ** Over 1.8 mln shares traded, which is 3.7x the 30-day avg
    ** Stock up ~27% so far this year compared to Shree Cement's
 SHCM.NS  ~14% fall and market leader Ultratech's  ULTC.NS  8%
rise

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))