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Shankara Building zooms 94% in 3 months as FPIs increase stake in company

The stock hit a new high of Rs 1,572, rallied 94% from Rs 811 on June 30, 2017 against 2% rise in the Sensex

Shankara
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SI Reporter Mumbai
Shankara Building Products hit a new high of Rs 1,572, up 9% on BSE, extending past three months rally, after the foreign portfolio investors (FPIs) increased their stake in the company in July-September (Q2FY18) quarter.

The stock is trading at its highest level since listing in April this year. In past three months, it has outperformed the market by surging 94% from Rs 811 on June 30, 2017, as compared to 2% rise in the S&P BSE Sensex.

The FPIs which were net sellers in Indian equity markets in Q2FY18 in stock exchanges, have hiked their stake in