Star Cement today announced receipt of Rs252mn of cash from the Central Government towards the freight subsidy backlog (under the NEIIPP scheme). The subsidy backlog clearance has accelerated over the past 12 months which has considerably reduced the outstanding on Star's books thus strengthening its balance sheet. We remain positive on the company owning to strong demand and pricing outlook for the North-East region, which should sustain its superior profitability. We reiterate BUY with a TP of Rs162. Acceleration in receipt of subsidy cash over the past 12 months: Star Cement...