Heavy buying: Ashish Kacholia & Mukul Agarwal collectively gained Rs 4,67,53,238 in this multibagger stock in just one day!

Shares of the company gained more than 5 per cent in the last six months.

Shares of Shankara Building Products Limited gained about 6 per cent on Tuesday. The stock witnessed heavy buying activity from investors on Tuesday. Shankara Building Products approved a demerger plan to unlock business value. The company's trading business will be transferred to its wholly-owned subsidiary, Shankara Buildpro, on a going concern basis.

Shareholders will receive 1 new share for every 1 existing in the building products share held, unlocking the distinct potential of each business. This demerger is subject to statutory and regulatory approvals. Ace investor Ashish Kacholia holds a 1.86 per cent stake in the company and Mukul Agarwal holds 2.27 per cent stake in the company.

Ace investor Ashish Kacholia made a killing on Tuesday, gaining over Rs 2.10 crore in profit on his 4,51,140 shares in Shankara Building Products, which soared by Rs 46.70 per share. While Mukul Agarwal gained Rs 2.56 crore in profit on his 5,50,000 shares in Shankara Building Products. The stock has also delivered multibagger returns of over 100 per cent in the past three years.

In Q2FY24, the company posted 26 per cent growth in its consolidated revenue at Rs 1,142.49 crore compared to Rs 906.72 crore from the previous year’s corresponding quarter. The operating profit of the company stood at Rs 36.25 crore, while the PAT of the company stood at Rs 18.21 crore, representing an impressive growth of 17.33 per cent YoY.     

Shankara Building Products Limited is a leading organized retailer of home improvement and building products in India, Operating under the brand name of Shankara Buildpro.

The stock has shown impressive growth, and investors should keep a close eye on this stock.   

Disclaimer: The article is for informational purposes only and not investment advice.