India's Star Cement jumps on rise in Q3 earnings

Star Cement

03/02/2023 09:10

** Shares of Star Cement  STAT.NS  rise as much as 4.01% to
114 rupees, highest level in over a week
    ** Company reports rise in consolidated net profit and
revenue in the third quarter
    ** Core profit rises to 1.08 bln rupees vs 675.13 mln rupees
a year earlier; core profit margins expanded to 17.42% from
12.25%
    ** Trading volume is 542,293 shares, as of 2:26 p.m. IST,
twice the 30-day avg of 272,323 shares
    ** Of the 10 analysts tracking the company, six maintain
"buy", three suggest "hold" and one recommends "sell"; median TP
is 115 rupees - Refinitiv data
    ($1 = 82.1300 Indian rupees)
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))