Shankara Building hits 52-week high; surges 42% in 2 weeks
On January 28, 2022, Crisil Ratings had reaffirmed its 'CRISIL BBB+/Stable/CRISIL A2' rating on the bank facilities and commercial paper
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Shares of Shankara Building Products hit a 52-week high of Rs 705, gaining as much as 4 per cent on the BSE in Thursday's intra-day trade, in an otherwise subdued market. In comparison, the S&P BSE Sensex was down 0.18 per cent at 57,894 at 10:11 AM.
In the past two weeks, the stock of the building and home improvement products company has zoomed 42 per cent from Rs 498 levels. The stock had hit a record high of Rs 2,365 on December 5, 2017.
"There is no undisclosed/price sensitive information or any impending announcement / corporate action which need to be informed to the exchange at this point of time," Shankara Building Products said on Tuesday, February 15, 2022 on clarification sought on price movement.
On January 28, 2022, Crisil Ratings had reaffirmed its 'CRISIL BBB+/Stable/CRISIL A2' rating on the bank facilities and commercial paper of Shankara Building Products (Shankara; a part of the Shankara Buildpro group).
"The ratings continue to factor in the group's established market position and extensive experience of the promoter in the building material distribution and retailing businesses, the diversified product offerings, longstanding association with vendors, and moderate financial risk profile. These strengths are partially offset by susceptibility to economic cycles and sharp variation in raw material prices," Crisil Ratings said in its rationale.
Healthy relationships with suppliers such as JSW Steel, Tata Steel, Sintex Industries, Uttam Galva Steels, APL Apollo Tubes, Kajaria Ceramics, and Cera Sanitaryware etc enables the group to offer a diverse range of building materials, and provides a competitive edge, the rating agency added.
In the past two weeks, the stock of the building and home improvement products company has zoomed 42 per cent from Rs 498 levels. The stock had hit a record high of Rs 2,365 on December 5, 2017.
"There is no undisclosed/price sensitive information or any impending announcement / corporate action which need to be informed to the exchange at this point of time," Shankara Building Products said on Tuesday, February 15, 2022 on clarification sought on price movement.
On January 28, 2022, Crisil Ratings had reaffirmed its 'CRISIL BBB+/Stable/CRISIL A2' rating on the bank facilities and commercial paper of Shankara Building Products (Shankara; a part of the Shankara Buildpro group).
"The ratings continue to factor in the group's established market position and extensive experience of the promoter in the building material distribution and retailing businesses, the diversified product offerings, longstanding association with vendors, and moderate financial risk profile. These strengths are partially offset by susceptibility to economic cycles and sharp variation in raw material prices," Crisil Ratings said in its rationale.
Healthy relationships with suppliers such as JSW Steel, Tata Steel, Sintex Industries, Uttam Galva Steels, APL Apollo Tubes, Kajaria Ceramics, and Cera Sanitaryware etc enables the group to offer a diverse range of building materials, and provides a competitive edge, the rating agency added.
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