Siyaram Silk Mills hits record high on raising share buyback price

Siyaram Silk Mills increased the share buyback price to Rs 720 per equity share from Rs 650.

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Shares of Siyaram Silk Mills jumped 8 percent on September 15 after the share buyback price was increased to Rs 720 per equity share from Rs 650. Though, the company plans to buy back a maximum of 14,99,992 fully paid-up equity shares, which is 3.20 percent of its total equity shares, down from the initial proposal of 16,61,530 shares.

At 10:18 am, shares of the company were trading 4.2 percent higher at Rs 613.1 on the BSE. The scrip has hit its 52-week high at Rs 633.80 today, September 15. It has gained 17 percent in the past one month.

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Siyaram Silk Mills operates as a textile manufacturer specialising in the production of fabrics and ready-to-wear garments, primarily focusing on men’s clothing. They export their products to various countries, including Abu Dhabi, Australia, Bahrain, Bangladesh, Cambodia, Canada, and more.

The company provides a diverse selection of men’s attire, including suits, blazers, shirts, and trousers crafted from premium yarns, adhering to global quality standards, and offering a distinct style statement.

The company over the years has also set up premium brands such as J Hampstead and Cadini. Contribution from these premium brands has been growing over the years.