Shankara Building moves north after bulk purchases

Shankara Building Products rose 2.3% to Rs 1,790.10 at 9:56 IST on BSE after Amansa Holdings purchased bulk shares of the company through open market transactions yesterday, 12 March 2018.

Meanwhile, the S&P BSE Sensex was up 57.97 points or 0.17% at 33,975.91. The S&P BSE Mid-Cap index advanced 0.79%, outperforming the Sensex.

On the BSE, 3,743 shares were traded on the counter so far as against the average daily volumes of 37,202 shares in the past one quarter. The stock had hit a high of Rs 1,799.90 and a low of Rs 1,776.20 so far during the day. The stock had hit a record high of Rs 2,365 on 5 December 2017 and a record low of Rs 545 on 5 April 2017.

The mid-cap company has equity capital of Rs 22.85 crore. Face value per share is Rs 10.

Amansa Holdings bought 1.47 lakh shares of Shankara Building Products at Rs 1,755 per share in a bulk deal on the BSE on 12 March 2018. It purchased 2.15 lakh shares at Rs 1,755 apiece in a bulk deal on the NSE.

On a consolidated basis, Shankara Building Products' net profit rose 28.9% to Rs 17.65 crore on 15.5% growth in net sales to Rs 624.62 crore in Q3 December 2017 over Q3 December 2016.

Shankara Building Products is one of the leading organized retailers of home improvement and building products in India based on number of stores, operating under the brand name 'Shankara Buildpro.

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