Shankara Bulding Products sets up new processing facility at Secunderabad

With the announcement that Shankara Building Products is started a new processing facility in Secunderabad, Telangana to capitalise on the growing requirements of the region through a network of state retail outlets, its shares jumped by over 3% intraday during Thursday’s trading session. 
 
Further, the company has relocated its processing capacity from Surat, Gujarat to Chegunta, Hyderabad. The relocation will ensure better utilisation levels on the back of increased availability of raw materials, which was hampering production and sales in Surat. The company has also informed that Centurywells Roofing India, a step-down subsidiary of the company, has started a new colour-coated roofing sheet processing facility at Secunderabad. 
 
The processing facility is spread over 5,000 square feet on leased premises and will have a production capacity of approximately 150 MT per month. The company also announced that Taurus Value Steel & Strips, a wholly-owned subsidiary, has relocated its processing unit from Surat to Chegunta. The installed capacity of this unit is around 800 MT per month.
 
Meanwhile, the stock was trading up by 3.42% at Rs 1,225.45 per share on the BSE at 1106 hours. It opened at Rs 1,200.50 per share. The stock hit its 52-week high at Rs 1,254.10 on Thursday.