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Shankara Building Products lists at a healthy premium to issue price: Angel Broking

Posted On: 2017-04-05 20:08:05

Views of Mr. Amarjeet Maurya (Sr. Equity Research Analyst - Mid Caps, Angel Broking):

"The IPO of Shankara Building Products listed on the exchanges at a premium of around 35%. Against the issue price of Rs.460 (at the upper end of the band), the stock listed above the Rs.600 mark and has managed to hold around the Rs.620 levels. Shankara is a niche player in the organized retailing of home improvement and building products. The big positive take-away for the investors is that Shankara has been consistently increasing the share of its retail business and reducing the share of institutional business. From a profit traction point of view, this is important because retail happens to be the more profitable side of this business, which is evident from the company's OPM improving from 4.6% in 2014 to 6.4% in 2017.

Angel Broking had recommended investing in the IPO as the valuation at 18.2 times earnings was attractive considering the earnings traction. With a premium listing, the valuations stand at 24.2 times earnings. Existing retail investors can look to take profits off the table. However, considering its shifting client mix and potential for future margin expansion, serious long-term investors can look at holding on to the stock with a 2-3 years time frame."


Source: Equity Bulls

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Disclaimer:The article above is a gist / extract of the original report prepared by the research firm / brokerage firm. This article is not to be considered as an offer to sell or a solicitation to buy any securities. This article is meant for general information only. www.equitybulls.com, its employees or owners or the research firms, its employees or owners won't be responsible for any liability that may arise from information, errors or omissions in these articles. www.equitybulls.com or its employees or owners / the research firms or its employees or clients or owners may from time to time hold positions in securities referred in this article. For detailed research reports, please contact the concerned research firm directly.





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