Shankara Building Products extends gains for fourth day; up over 42% in one month

Shankara Building Products advanced 4.73% to Rs 738.65, extending gains for fourth day in a row.

The stock has added 17.69% in four sessions, from its recent closing low of Rs 627.60 recorded on 14 February 2022.

In the past one month, the stock has zoomed 42.51% while the benchmark Sensex has lost 4.41% during the same period.

On the technical front, the stock's RSI (relative strength index) stood at 80.773. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The scrip is trading above its 50-day, 100-day and 200-day simple moving average placed at 543.91, 554.42 and 529.66, respectively.

Shankara Building Products is a organized retailer of home improvement and building products in India, operating under the brand name 'Shankara Buildpro'.

The company's consolidated net profit declined 83.86% to Rs 3.52 crore on a 4.06% rise in net sales to Rs 584.95 crore in Q3 FY22 over Q3 FY21.

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