Star Cement has informed that the company has incorporated Star Cement North East Limited in Assam as a wholly-owned subsidiary company.
The Company has been incorporated to carry out cement and cement related business in line with business of holding company.
Star Cement North East Limited has been incorporated as wholly owned subsidiary company and having Registered Office at Guwahati, Assam. The company is yet to start operations.
Cost of acquisition is initial subscription of Rs5,00,000/- divided into 50,000 Equity Shares of Rs10/- each.
The Company has been incorporated as per approval received from the Ministry of Corporate Affairs (MCA).
Star Cement ended Wednesday trade at Rs111.80 apiece higher by Rs0.85 or 0.77% on Sensex.
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( With inputs from indiainfoline)