 "Shankara Building extends rally; surges over 70% against IPO price")
Shares of Shankara Building Products rallied 15% to Rs 786 in intra-day trade, extending its Friday’s 9% gain on the National Stock Exchange (NSE) in an otherwise weak market. The Nifty 50 index was down 0.84% in the past two trading days.
With a gain of over 20% in the last two trading sessions, the stock is currently trading 71% higher against its initial public offer (IPO) price of Rs 460 per share.
Home improvement and building products company Shankara Building Products made a stellar trading debut on Wednesday, April 5, 2017. Shares of the company closed at Rs 632, a 37% above its IPO price.
On debut day, Ashoka Pte, IIFL Asset Revival Fund Series 2 and Girik Wealth Advisors Private Limited PMS had collectively 684,221 equity shares of Shankara Building Products through open market purchases.
According to bulk deals data available with NSE, the Singapore-based Ashoka Pte acquired 400,221 shares in Shankara Building Products for Rs 23.48 crore. CLICK HERE FOR BULK DEAL DATA.
At 1:37 pm; the stock was up 13% to Rs 772 on the NSE against 0.12% decline in the benchmark index. A combined 7.74 million shares changed hands on the counter on NSE and BSE so far.
With a gain of over 20% in the last two trading sessions, the stock is currently trading 71% higher against its initial public offer (IPO) price of Rs 460 per share.
Home improvement and building products company Shankara Building Products made a stellar trading debut on Wednesday, April 5, 2017. Shares of the company closed at Rs 632, a 37% above its IPO price.
On debut day, Ashoka Pte, IIFL Asset Revival Fund Series 2 and Girik Wealth Advisors Private Limited PMS had collectively 684,221 equity shares of Shankara Building Products through open market purchases.
According to bulk deals data available with NSE, the Singapore-based Ashoka Pte acquired 400,221 shares in Shankara Building Products for Rs 23.48 crore. CLICK HERE FOR BULK DEAL DATA.
At 1:37 pm; the stock was up 13% to Rs 772 on the NSE against 0.12% decline in the benchmark index. A combined 7.74 million shares changed hands on the counter on NSE and BSE so far.
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