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Shankara Building moves north after appointing CEO

Capital Market 

Shankara Building Products rose 2.64% to Rs 843.25 at 12:47 on after the company said it has appointed Siddhartha Mundra as Chief Executive Officer of the company.

The announcement was made after market hours yesterday, 19 June 2017.

Meanwhile, the S&P Sensex was up 7.55 points or 0.02% at 31,319.12. The S&P Small-Cap index rose 51.74 points or 0.33% at 15,705.71.

On the BSE, 43,000 shares were traded on the counter so far as against the average daily volumes of 87,000 shares in the past two weeks. The stock had hit a high of Rs 859.30 so far during the day, which is a record high. The stock hit a low of Rs 822.50 so far during the day. The stock had hit a record low of Rs 545 on 5 April 2017.

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

Siddhartha Mundra has been associated with Shankara Building Products since 2011 as a nominee director of Fairwinds Private Equity on board of directors of Shankara Building Products.

Shankara Building Products got listed on the stock exchanges on 5 April 2017.

On consolidated basis, Shankara Building Products' net profit rose 10.9% to Rs 19.04 crore on 5.2% growth in net sales to Rs 600.39 crore in Q4 March 2017 over Q4 March 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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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, June 20 2017. 12:49 IST