Vijay Kedia’s Portfolio Textile Stock Rockets 9.5 Per Cent as Board is Likely to Announce Bonus Share & Dividend
The shares of the company have a PE ratio of 13 whereas the industry PE ratio is 26 with an ROE of 16 per cent and an ROCE of 21 per cent.
On Thursday, shares of Siyaram Silk Mills Ltd gained 9.50 per cent to Rs 550 per share from its previous closing of Rs 502.50 per share with a spurt in volume by more than 4.75 times on BSE.
The Board of Directors of the company is scheduled to be held on Saturday, October 26, 2024, inter alia to: -
- Consider and approve the unaudited standalone and consolidated financial results of the company for the quarter and half year ended September 30, 2024 and to consider and declare an interim dividend, if any, for the FY24–FY25.
- Discuss and consider a proposal for the issuance of bonus securities to the shareholders of the company.
Additionally, the company is expanding its retail footprint to cater to the rising demand for fast fashion and ethnic wear. The company's new outlets, branded ZECODE and DEVO, will offer trendy, affordable apparel and traditional attire respectively, targeting urban shoppers in Tier I, II, and III cities. This strategic expansion, supported by a Rs 50 crore investment, is a testament to Siyaram's commitment to providing a seamless shopping experience and meeting the diverse needs of Indian consumers.
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About Siyaram Silk Mills Limited
Siyaram Silk Mills Limited, established in 1978 and headquartered in Mumbai, India, is a prominent player in the Indian textile industry. Renowned for its high-quality fabrics and apparel, the company offers a diverse range of products made from various blends, including poly viscose, cotton, wool, linen, bamboo, and stretch. Through its extensive distribution network, Siyaram's brands have gained popularity among the Indian population, providing them with access to affordable yet stylish fashion options. With its strong manufacturing and retailing capabilities, Siyaram has become a trusted name in the Indian textile market.
The company has a market cap of over Rs 2,400 crore and as of September 2024, an ace investor, Vijay Kedia owns 45,37,009 shares or 1 per cent stake in the company. The shares of the company have a PE ratio of 13 whereas the industry PE ratio is 26 with an ROE of 16 per cent and an ROCE of 21 per cent. The stock is up by 33.8 per cent from its 52-week low of Rs 411 per share. Investors should keep an eye on this small-cap textile stock.
Disclaimer: The article is for informational purposes only and not investment advice.