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Board of Shankara Building Products appoints director

Board of Shankara Building Products appoints director

At meeting held on 16 May 2025The Board of Shankara Building Products at its meeting held on 16 May 2025 has approved the appointment of Dhananjay Mirlay Srinivas (DIN: 09108483) as Whole-time Director of the Company for the term of Five (5) years subject to the approval of shareholders at the ensuing Annual General Meeting.Powered by Capital Market - Live News

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Madhu Kela's Singularity Equity Fund acquires stake in this small-cap stock via block deals worth ₹42.60 crore
Madhu Kela's Singularity Equity Fund acquires stake in this small-cap stock via block deals worth ₹42.60 crore

Mint

time5 hours ago

  • Mint

Madhu Kela's Singularity Equity Fund acquires stake in this small-cap stock via block deals worth ₹42.60 crore

Small-cap stock Shankara Building Products saw a sharp rise in investor interest after ace investor Madhu Kela's fund acquired a significant stake through block deals. In a notable transaction on June 9, Singularity Equity Fund I, backed by renowned investor Madhu Kela, acquired 4.6 lakh shares of Shankara Building Products at ₹ 926.1 per share via block deals for a total of ₹ 42.6 crore. The company, a leading organised retailer of home improvement and building products in India, operates under the brand name "Shankara Buildpro". The acquisition came alongside a major stake sale by the company's promoter and Managing Director, Sukumar Srinivas, who offloaded a 7.8 percent stake through open market transactions, amounting to ₹ 176 crore. According to BSE data, Srinivas sold 19 lakh shares at an average price of ₹ 926.1 apiece, bringing the promoters' holding down to 41.41 percent from 49.25 percent earlier. Besides Kela's fund, other prominent investors such as Chartered Finance and Leasing, Ace Infracity Developers, Sageone Investment Managers LLP, and foundations like Riti Foundation, RR Foundation, S R Foundation, and Swati Foundation also participated in the block deals. Shankara Building Products reported a 17.46 percent year-on-year rise in net profit at ₹ 28.45 crore for the quarter ended March 2025, up from ₹ 24.22 crore in the year-ago period. Revenue for the quarter surged 19.08 percent to ₹ 1,639.16 crore versus ₹ 1,376.55 crore in Q4FY24. However, for the full year, the company posted a 4.60 percent decline in net profit to ₹ 77.40 crore from ₹ 81.13 crore in FY24, despite a 17.98 percent rise in revenue to ₹ 5,696.69 crore. During its earnings call, the management highlighted that the steel sector faced considerable headwinds through the year, primarily due to a decline in realisations, which in turn pressured margins. Still, the company clocked a robust 30 percent volume growth in FY25. According to Vice President Dhananjay Mirlay Srinivas, segments like structural steel tubes and pipes have shown resilient demand, enabling the company to maintain growth momentum. Shares of Shankara Building Products surged 6.7 percent in the previous session following the block deals and touched a new 52-week high of ₹ 1056.60. On Tuesday, June 11, the stock gained another 2.6 percent to hit an intraday high of ₹ 1,024. With this, the smallcap stock has rallied nearly 130 percent from its 52-week low of ₹ 444.40 hit in October 2024. In the past one year alone, it has delivered a 44 percent return. The upward momentum has continued in recent months, with gains of 23 percent so far in June, extending its winning streak to four straight months—after rising 36.5 percent in May, 5.4 percent in April, and 2.5 percent in March. The stock, however, faced pressure earlier in the year with declines of over 10 percent each in January and February.

Madhu Kela's Singularity Equity Fund acquires stake in this small-cap stock via block deals worth  ₹42.60 crore
Madhu Kela's Singularity Equity Fund acquires stake in this small-cap stock via block deals worth  ₹42.60 crore

Mint

time9 hours ago

  • Mint

Madhu Kela's Singularity Equity Fund acquires stake in this small-cap stock via block deals worth ₹42.60 crore

Small-cap stock Shankara Building Products saw a sharp rise in investor interest after ace investor Madhu Kela's fund acquired a significant stake through block deals. In a notable transaction on June 9, Singularity Equity Fund I, backed by renowned investor Madhu Kela, acquired 4.6 lakh shares of Shankara Building Products at ₹ 926.1 per share via block deals for a total of ₹ 42.6 crore. The company, a leading organised retailer of home improvement and building products in India, operates under the brand name "Shankara Buildpro". The acquisition came alongside a major stake sale by the company's promoter and Managing Director, Sukumar Srinivas, who offloaded a 7.8 percent stake through open market transactions, amounting to ₹ 176 crore. According to BSE data, Srinivas sold 19 lakh shares at an average price of ₹ 926.1 apiece, bringing the promoters' holding down to 41.41 percent from 49.25 percent earlier. Besides Kela's fund, other prominent investors such as Chartered Finance and Leasing, Ace Infracity Developers, Sageone Investment Managers LLP, and foundations like Riti Foundation, RR Foundation, S R Foundation, and Swati Foundation also participated in the block deals. Shankara Building Products reported a 17.46 percent year-on-year rise in net profit at ₹ 28.45 crore for the quarter ended March 2025, up from ₹ 24.22 crore in the year-ago period. Revenue for the quarter surged 19.08 percent to ₹ 1,639.16 crore versus ₹ 1,376.55 crore in Q4FY24. However, for the full year, the company posted a 4.60 percent decline in net profit to ₹ 77.40 crore from ₹ 81.13 crore in FY24, despite a 17.98 percent rise in revenue to ₹ 5,696.69 crore. During its earnings call, the management highlighted that the steel sector faced considerable headwinds through the year, primarily due to a decline in realisations, which in turn pressured margins. Still, the company clocked a robust 30 percent volume growth in FY25. According to Vice President Dhananjay Mirlay Srinivas, segments like structural steel tubes and pipes have shown resilient demand, enabling the company to maintain growth momentum. Shares of Shankara Building Products surged 6.7 percent in the previous session following the block deals and touched a new 52-week high of ₹ 1056.60. On Tuesday, June 11, the stock gained another 2.6 percent to hit an intraday high of ₹ 1,024. With this, the smallcap stock has rallied nearly 130 percent from its 52-week low of ₹ 444.40 hit in October 2024. In the past one year alone, it has delivered a 44 percent return. The upward momentum has continued in recent months, with gains of 23 percent so far in June, extending its winning streak to four straight months—after rising 36.5 percent in May, 5.4 percent in April, and 2.5 percent in March. The stock, however, faced pressure earlier in the year with declines of over 10 percent each in January and February. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

Goldman Sachs, Morgan Stanley, others buy 1.45% stake in Suzlon Energy for Rs 1,309 crore
Goldman Sachs, Morgan Stanley, others buy 1.45% stake in Suzlon Energy for Rs 1,309 crore

Time of India

timea day ago

  • Time of India

Goldman Sachs, Morgan Stanley, others buy 1.45% stake in Suzlon Energy for Rs 1,309 crore

New Delhi, Goldman Sachs , Morgan Stanley , Motilal Oswal Mutual Fund (MF), Societe Generale and others bought a total of 19.81 crore equity shares, representing 1.45 per cent stake, of Suzlon Energy for Rs 1,309 crore from promoter entities through open market deals on Monday. Aditya Birla Sun Life MF, Edelweiss MF, Bandhan MF, Sundaram MF, Invesco MF, ICICI Prudential Life Insurance and Bajaj Allianz Life Insurance, were also among the buyers, according to block deal data on the NSE. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Don't Miss The Top Packaging Trends Of 2024, Enhnace Your Brand With The Latest Insights Packaging Machines | Search Ads Search Now Undo These entities purchased more than 19.81 crore equity shares, representing a 1.45 per cent stake in Pune-based renewable energy company Suzlon Energy at an average price of Rs 66.05 apiece, as per the data. This took the combined deal value to Rs 1,308.87 crore. Meanwhile, Suzlon Energy's promoter entities Tanti Holdings Pvt Ltd, Vinod Ranchhodhbhai Tanti (Chairperson-MD of Suzlon Energy), Tanti Ranchhodbhai Ramjibhai and Rambhaben Ukabhai Tanti offloaded an equal number of shares at the same price, as per the NSE data. Live Events After the stake sale, the combined holding of Suzlon Energy's promoters dipped to 11.8 per cent from 13.25 per cent. Shares of Suzlon Energy went up 0.76 per cent to settle at Rs 67.22 apiece on the NSE. In a separate block deal on the BSE, Shankara Building Products ' promoter and MD Sukumar Srinivas divested a 7.8 per cent stake in the company for Rs 176 crore through open market transactions. Following the stake sale, the promoters' holding in Shankara Building Products dipped to 41.41 per cent from 49.25 per cent. As per the data, Srinivas offloaded 19 lakh shares of Shankara Building Products at an average price of Rs 926.1 apiece, taking the combined value to Rs 175.95 crore. Meanwhile, Chartered Finance and Leasi NG, Singularity Equity Fund I, Ace Infracity Developers, Sageone Investment Managers LLP, Riti Foundation, RR Foundation, S R Foundation and Swati Foundation purchased these shares. The scrip of Shankara Building Products jumped 6.62 per cent to close at Rs 997.35 apiece on the BSE. PTI

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