Bigbloc Construction shares rise 3%, extend gains after Shankar Sharma buys stake

Bigbloc shares have more than doubled in the last one year

Shares of Bigbloc Construction rose over 3 percent on May 7, extending the previous day’s 8 percent gain, after renowned investor Shankar Sharma bought an equity stake in the company. Sharma bought 3.65 lakh shares, or a 0.51 percent stake in Bigbloc Construction at an average price of Rs 235. The total value of the deal translated to Rs 8.57 crore worth of shares.

Bigbloc shares have more than doubled in the last one year, outperforming NSE Nifty 50, which has gained 23 percent during the same period. The stock gained 24 percent in April, and 8 percent so far in May.

The company is also due to declare its Q4 results on May 7.

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Bigbloc Construction has a 27.58 percent public shareholding. Nxt Fab Private and Nxt Polyester Private are other public shareholders in the company, owning stakes of 3.62 percent and 3.27 percent, respectively.

The Surat-headquartered company, which was incorporated in 2015, is engaged in the manufacture, sale and marketing of AAC (Aerated Autoclaved Concrete) Blocks.

Aerated autoclaved concrete (AAC) blocks are a high-quality building material that offers a unique combination of strength, low weight, thermal insulation, sound absorption, unsurpassed fire resistance and unprecedented buildability. AAC is a natural and non-toxic construction material, saves energy, and is environment friendly.

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