Star Cement received Rs 115.18 crore towards freight subsidy claims from the central government.
Star Cement shares rallied nearly 10 percent in morning on March 14 after receiving freight subsidy claims from the central government.
The stock was quoting at Rs 105.30, up Rs 5.20, or 5.19 percent on the BSE, at 1005 hours IST. The stock has rallied nearly 20 percent in last one month.
"We have received Rs 115.18 crore towards freight subsidy claims from the central government," the cement maker said.
And a further amount of Rs 42.55 crore is expected to be received within a week's time, it added.Meanwhile, the company had reported a profit of Rs 82.3 crore for the quarter ended December 2018, against Rs 89.54 crore in the same period last year. Revenue during the quarter increased to Rs 416.43 crore from Rs 374 crore YoY.