There were pending sell orders of 25,405 shares, with no buyers available.
Shares of Shankara Building Products locked at 10 percent lower circuit after IDFC Securities downgraded the stock to underperform from neutral.
It has touched a 52-week low of Rs 626.15.
There were pending sell orders of 25,405 shares, with no buyers available.
IDFC Securities has cut target price to Rs 525 from Rs 1,065 per share.
According to research house, competitive intensity is high and value proposition needs to be further improved, while revenue growth benefit is lower compared to cost involved in terms of margin trade off.
The target price cut and stock downgrade is on weak potential benefit of change in strategy and visibility in terms of execution, it added.
At 10:55 hrs Shankara Building Products was quoting at Rs 626.15, down Rs 69.55, or 10 percent on the BSE.
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