Shankara Building rallies 43% in six sessions

Shankara Building Products surged 5.84% to Rs 2,333.50 at 11:55 IST on BSE, with the stock hitting record high in intraday today, 5 December 2017, amidst recent rally.

Meanwhile, the S&P BSE Sensex was down 133.22 points or 0.41% at 32,736.50. The S&P BSE Mid-Cap index fell 0.22%, outperforming the Sensex.

On the BSE, 1.07 lakh shares were traded on the counter so far as against average daily volumes of 48,567 shares in the past one quarter. The stock had hit a high of Rs 2,350 so far during the day, which is a record high. The stock hit a low of Rs 2,225.05 so far during the day. The stock had hit a record low of Rs 545 on 5 April 2017.

The stock had outperformed the market over the past one month till 4 December 2017, advancing 46.89% compared with the Sensex's 2.42% fall. The stock had also outperformed the market over the past one quarter, rallying 83.19% as against the Sensex's 3.68% rise.

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

Shares of Shankara Building Products have rallied 43.06% in six trading sessions to its ruling market price, from its closing of Rs 1,631.10 on 27 November 2017.

Shankara Building Products recently announced the opening of its 123rd store under the 'Shankara Buildpro' brand at Kundanahalli gate, Bangalore. The store admeasures around 8,399 square feet and houses a diverse basket of product offerings.

On consolidated basis, Shankara Building Products' net profit rose 28% to Rs 17.32 crore on 5.1% decline in net sales to Rs 571.62 crore in Q2 September 2017 over Q2 September 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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