Shankara Building Products Ltd Hits Lower Circuit Limit at Rs 160.77, Marking Eighth Day of Losses

Shankara Building Products Ltd, a small-cap player in the building products industry, has experienced significant volatility today, hitting its lower circuit limit. The stock closed at Rs 160.77, reflecting a decline of 8.47 points or 5.0% from the previous trading session. This marks the eighth consecutive day of losses for the company, with a staggering 33.63% drop in returns over this period.
The stock opened with a gap down of 5% and has remained stagnant at the day's low of Rs 160.77, indicating a lack of upward movement. Total traded volume was recorded at 0.02042 lakh shares, with a turnover of approximately Rs 0.0328 crore. The performance today underperformed the sector by 4.48%, while the broader market, represented by the Sensex, showed a slight gain of 0.23%.

Shankara Building Products is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, highlighting a bearish trend. Additionally, investor participation has waned, with delivery volume dropping by 77.46% compared to the 5-day average. Overall, the stock's performance today reflects ongoing challenges in the market.