Apex Frozen Foods, Shankara Building hit new high

Shares of Apex Frozen Foods and Shankara Building Products have rallied more than 300% against their issue price

Shares of Apex Frozen Foods and Shankara Building Products rallied more than 300% against their issue price to trade at their respective new highs on the BSE.

Shankara Building Products (SBPL), a fledgling retailer of building materials, was up 8% to Rs 1,917, extending its Tuesday’s 9% surge on the BSE. The company made its debut on the stock exchanges on April 4, 2017, soared 316% from its issue price of Rs 460 per share.

With SBPL’s focus on expanding its business in asset light retail store business, analysts ICICI Securities believe the company is in a sweet