The shares of India’s leading organized retailers of home improvement and building products in India, including structural steel, pipes, plumbing, sanitaryware, roofing, paints, adhesives, and tiles for home and commercial projects, crashed by 76 percent. In this article, we will explain the reason behind the crash.

With a market capitalization of Rs. 571.31 Crores on Wednesday, the shares of Shankara Building Products Ltd declined upto 76 percent, making a low of Rs. 235.60 compared to its previous closing price of Rs. 989.50.

What Happened

Shankara Building Products Ltd, engaged in the retail and distribution of a wide range of building and home improvement products in India, has announced that it has demerged its trading business, which includes retail and trading of building mat

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