Shankara Building falls for ninth straight day to hit a new low

The stock slipped 5 per cent to Rs 302 on Thursday in the intra-day trade, plunging 42 per cent in the past three months, as compared to a 2 per cent decline in the S&P BSE Sensex.

Shares of Shankara Building Products were trading lower for the ninth straight day on Thursday, down 5 per cent to Rs 302 on the BSE, on concerns of weak earnings. The stock was trading at its lowest level since listing on April 5, 2017. In the past three months, it tanked 42 per cent, as compared to a 2 per cent decline in the S&P BSE Sensex.

The company is one of the leading organised retailers of home improvement and building products in India operating under the brand name Shankara BuildPro.

For the last quarter (January-March) of the