INSUBCONTINENT EXCLUSIVE:
Mumbai: Much-hyped building product retailer Shankara Building Products has destroyed nearly 72 per cent of investor wealth in the past nine
months despite 10 analysts tracking the stock giving buy recommendations.
The stock, which was trading at Rs 1,945 in April, closed at Rs
In the past 15 days, almost all brokerages have cut their target price by up to 60 per cent and EBITDA by 25 per cent for next two years
term, this change in the business strategy is likely to result in significant earnings reduction and we believe that positive impact of
strategy, which aims at improving balance sheet but with a sharp reduction in business margins
It guided FY19 revenue for the retail segment to be about Rs 1,500, implying about 25 per cent growth compared with FY 2018.
Kotak
Securities has reduced the target price of Shanakar Products from Rs 1,552 to Rs 620 while Emkay Share Stock Brokers which as a target
price of Rs 2,155 has suspended the coverage on the stock
in retail segment is beyond expectations and this is leading to a sharp downward revision in the earnings of the company going forward, said
