On Tuesday, the shares of a company specializing in manufacturing building blocks and AAC (Aerated Autoclave Concrete) Bricks surged by 7.4%, hitting a 52-week high price of ₹284 per share, following ace investor Shankar Sharma bought a fresh stake in the company.
At 11:15 a.m., the shares of BIGBLOC Construction Ltd were valued at ₹281 each, marking a 6.24 percent rise from the previous closing price. The company boasts a market capitalization of ₹1,972 crore on the stock exchange.
Renowned ace investor Shankar Sharma has recently bought a 0.51 percent equity stake in BigBloc Construction, He bought 3.65 lakh shares at an average price of ₹235, for an investment, valued at ₹8.57 crore. As per reports.
BigBloc Construction Limited stands as a leading manufacturer in India, specializing in AAC (Aerated Autoclave Concrete) blocks and related products, boasting an annual production capacity of 8,25,000 cubic meters.
AAC blocks are a superior quality building material which provide unparalleled blend of strength, light weight, thermal insulation, sound proof, unsurpassed fire resistance and highly proficient building capability.
AAC is a natural and non-toxic construction material, saves energy, and are eco-friendly.AAC Blocks of the company are marketed in the Brand name of NXTBLOC.
BigBloc operates three state-of-the-art manufacturing facilities situated in Vapi and Ahmedabad, Gujarat, and Palghar, Maharashtra.
Over the past year, the firm has experienced robust growth, with revenue surging by 24 percent annually, escalating from ₹49 crore in Q3FY23 to ₹61 crore in Q3FY24. Concurrently, net profit has seen a commendable 12 percent increase, climbing from ₹7.68 crore to ₹8.62 crore.
The shares of BIGBLOC Construction Ltd have exhibited remarkable performance, soaring by 82% over the last six months and by 110% over the past 12 months.
Noteworthy clients of the company include Adani Realty, Sunteck Realty, Oberoi Realty, Piramal Realty, Lodha Group, and several others.
In the latest shareholding pattern, the company’s promoter holds a majority stake of 72.42%, while retail investors hold 27.39% of the stake.
Written by Omkar Chitnis
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