Star Cement shares rise over 3% as arm declared preferred bidder for composite license of Boro Hundong Limestone block; check details

Reacting to the development, shares of the company surged as much as 3.6% to ₹211.10 apiece on the BSE in the opening deals on Tuesday, March 18.

A "composite license" (also known as a "prospecting license-cum-mining lease") is a two-stage concession that allows a holder to conduct both prospecting (exploration) and mining operations seamlessly.

The aforesaid block is situated in District Dima Hasao (formerly North Cachar Hills), Assam, over an area of 400 hectares with an estimated limestone resource of 146.75 million tonnes.

In February 2025, Star Cement proposed to set up a ₹3,200 crore cement clinker and grinding plant in Assam.

A memorandum of understanding (MoU) in this regard was signed between the state government and the company on the concluding day of the Advantage Assam business summit on Wednesday, Chief Minister Himanta Biswa Sarma said.

Apart from this, an agreement was inked between the state government and Matheson Hydrogen Lvt Ltd., which is willing to set up a ₹1,500 crore hydrogen and steam generation plant.

The state government also signed a ₹500 crore MoU with Global Health Ltd., while two non-financial agreements were signed with ITE Education Service.

Sarma said he was grateful to the companies for their support.

A total of 164 MoUs of investment proposals with companies in 15 sectors were signed on day one of the 'Advantage Assam 2.0 Investment and Infrastructure Summit 2025.'

Star Cement, having an installed capacity of 7.7 MTPA (million tonnes per annum), has a presence in the markets of northeastern India and is rapidly expanding in West Bengal and Bihar.