Siyaram Silk Mills Raises Buyback Price, Shares Surge 8%
Shares of Siyaram Silk Mills saw an 8% jump on September 15, driven by the company’s decision to raise the share buyback price to Rs 720 per equity share, up from the initial Rs 650. However, the company revised its buyback quantity to a maximum of 14,99,992 fully paid-up equity shares, which accounts for 3.20% of total equity shares, down from the initial proposal of 16,61,530 shares.
The stock hit a 52-week high of Rs 633.80 on September 15 and has demonstrated a 17% gain over the past month.
Siyaram Silk Mills specializes in textile manufacturing, focusing primarily on men’s clothing, including fabrics and ready-to-wear garments. They export their products to numerous countries, including Abu Dhabi, Australia, Bahrain, Bangladesh, Cambodia and Canada, among others. The company offers a diverse range of men’s attire, including suits, blazers, shirts and trousers made from premium yarns, adhering to global quality standards and delivering a distinct style statement.
Over the years, the company has also established premium brands such as J Hampstead and Cadini, with contributions from these brands steadily increasing over time.
