Siyaram Silk Mills hits record high on raising share buyback price

Shares of Siyaram Silk Mills rose 8% on September 15 after the share buyback price was increased to Rs 720 per share from Rs 650. However, the company plans to buy back a maximum of 14,99,992 fully paid shares, representing 3.20%. its total number of shares, down from the original proposal of 16,61,530 shares.
At 10:18 am, the company’s shares were trading 4.2 per cent higher at Rs 613.1 on the BSE. The stock hit a 52-week high of Rs 633.80 today, September 15. It has gained 17 per cent in the past month. Siyaram Silk Mills operates as a textile manufacturer specializing in the production of fabrics and ready-to-wear garments, mainly focusing on men’s wear. They export their products to various countries including Abu Dhabi, Australia, Bahrain, Bangladesh, Cambodia, Canada, etc.
The company offers a wide selection of men’s clothing including suits, blazers, shirts and pants made from premium yarns, adhering to global quality standards and offering distinct styles. Over the years, the company has also created premium brands such as J Hampstead and Cadini. The contribution of these luxury brands has increased over the years.