Trend

Chipping away

Star Cement promoters offload over 3% stake, but are still sitting pretty

Over the past six months, the Sensex has gained 16% but quite a few stocks have stayed immune to the rally and one of them is Star Cement, whose price has stayed flat at Rs.126 levels over the same period. The stock was re-listed in June 2017 following a reverse merger with Star Ferro & Cement, which was spun off from Century Plywood in 2015.

Star Cement has been a beneficiary of the government’s focus on infrastructure development in the North East (NE) since it’s the largest player in the region with over 27% market share. Demand growth in NE has consistently remained higher than growth at the

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