{"id":137424,"date":"2024-10-24T17:14:15","date_gmt":"2024-10-24T11:44:15","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=137424"},"modified":"2024-10-24T17:14:20","modified_gmt":"2024-10-24T11:44:20","slug":"vijay-kedia-stock-jumps-9-after-companys-board-to-consider-bonus-share","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/vijay-kedia-stock-jumps-9-after-companys-board-to-consider-bonus-share\/","title":{"rendered":"Vijay Kedia stock jumps 9% after company&#8217;s board to consider bonus share"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2385604582\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The small-cap textile stock surged over 9% after the board proposed to discuss a bonus issue and the expansion of retail outlets focused on fast fashion and ethnic wear.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3751257168\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Share price variations:&nbsp;<\/strong><\/h2><p>With a market capitalization of Rs. 2,413.69 crores, <strong><a href=\"https:\/\/portal.tradebrains.in\/stocks\/SIYSIL\" target=\"_blank\" rel=\"noreferrer noopener\">Siyaram Silk Mills Ltd<\/a>. <\/strong>rose to an intraday high of Rs. 550.00 representing a 9.45 percent increase from its previous closing price of Rs. 502.50 per share.\u00a0<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Reason for Rise:\u00a0<\/strong><\/h2><p>According to exchange filings, Siyaram Silk Mills Ltd.\u2019s board has proposed to discuss the issuance of bonus securities at its meeting scheduled for October 26th.&nbsp;<\/p><p>The company has also unveiled plans to expand its retail presence by launching new fast fashion outlets under the brand name ZECODE and ethnic clothing stores under the brand DEVO. It aims to enter Tier I, II, and III cities across India, with a total of 30 new outlets set to open by March 2025, requiring an investment of approximately Rs. 50 crores.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-767755111\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Financial Performance:&nbsp;<\/strong><\/h2><p>For Q1FY24 the company reported a net profit increase of 15.11 percent to Rs. 11.5 crores compared to Rs. 9.99 crores in Q1FY24, while revenue from operations marked a decrease of 13.57 percent to Rs. 306.82 crores from Rs. 355 crores in comparison to the same period.&nbsp;<\/p><p>For the June quarter, the company&#8217;s revenue mix consists of 77 percent from fabric, 13 percent from garments, and 10 percent from yarn and other categories.&nbsp;<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>About the company:&nbsp;<\/strong><\/h2><p>Siyaram Silk Mills Ltd is engaged in manufacturing fabrics and readymade garments, especially in the men\u2019s wear section. The company has manufacturing facilities across Tarapur, Daman, Amravati, and Silvassa and has 245 plus stores across the nation.<\/p><p>The company also exports its products, with exports contributing 9 percent of its revenues for FY24. It employs various distribution methods, including distributors, MBOs, institutions, online marketplaces, and exclusive shops. As of September Vijay Kedia holds a 1 percent stake in the company amounting to 4.55 lakhs equity shares valuing Rs. 22.84 crores.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written By<\/strong>: <strong>Joseph Pv\u00a0<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading has-medium-font-size\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on <a href=\"http:\/\/tradebrains.in\/\">tradebrains.in<\/a> are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing<\/strong>.<\/p><div class=\"trade-after-content\" id=\"trade-986685224\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The small-cap textile stock surged over 9% after the board proposed to discuss a bonus issue and the expansion of retail outlets focused on fast fashion and ethnic wear.&nbsp; Share price variations:&nbsp; With a market capitalization of Rs. 2,413.69 crores, Siyaram Silk Mills Ltd. rose to an intraday high of Rs. 550.00 representing a 9.45 [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":62124,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1],"tags":[12175,11372,9496,5510],"class_list":["post-137424","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-siyaram-silk-mills-latest-news","tag-siyaram-silk-mills-share-price","tag-stock-news","tag-vijay-kedia"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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