Star Cement today appear cancellation of Rs252mn of banknote from the Central Government appear the bales subsidy excess (under the NEIIPP scheme). The subsidy excess approval has accelerated over the accomplished 12 months which has appreciably bargain the outstanding on Star’s books appropriately deepening its antithesis sheet.
We abide absolute on the aggregation owning to able appeal and appraisement angle for the North-East region, which should sustain its above profitability. We reiterate BUY with a TP of Rs162.
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