Shankara Building Products to close retail stores in four states

The move is part of the company's operations rationalization program.

May 05, 2021 03:05 IST India Infoline News Service

Shankara Building Products has decided to close retail stores located in four states. These are - Kakinada (Andhra Pradesh); Bellary (Karnataka); Kannur (Kerala); Nagole (Hyderabad, Telangana).

The decision comes after the company identified some retail stores where it does not find substantial scale-up opportunities in the medium term. The move is part of the company's operations rationalization program.

After these measures, the net store count of the company will stand at 91 stores.

On Sensex, the company's stock is trading at Rs374.55  per piece down by 0.3% at around 3.09 pm. 

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