Siyaram Silk Mills gains on stock-split plan

Siyaram Silk Mills gained 1.59% to Rs 2,250.05 at 14:38 IST on BSE after the company said its board will meet on 26 July 2017, to consider sub-division of equity shares.

The announcement was made after market hours on Friday, 7 July 2017.

Meanwhile, the S&P BSE Sensex was up 376.35 points, or 1.2% at 31,736.98. The S&P BSE Small-Cap index was up 80.89 points, or 0.51% at 15,911.56.

On the BSE, 719 shares were traded on the counter so far as against the average daily volumes of 722 shares in the past one quarter. The stock had hit a high of Rs 2,304.80 and a low of Rs 2,250.05 so far during the day. The stock had hit a record high of Rs 2,364 on 8 June 2017 and a 52-week low of Rs 994 on 2 August 2016.

The stock had outperformed the market over the past one month till 7 July 2017, advancing 1.83% compared with the Sensex's 0.29% rise. The scrip had also outperformed the market over the past one quarter advancing 30.92% as against the Sensex's 5.57% rise. The scrip had also outperformed the market over the past one year advancing 105.05% as against the Sensex's 15.29% rise.

The small-cap company has equity capital of Rs 9.37 crore. Face value per share is Rs 10.

Siyaram Silk Mills said that a meeting of the board of directors of the company is scheduled to be held on 26 July 2017, to consider and approve sub-division of equity shares of the company.

Siyaram Silk Mills' net profit rose 57.1% to Rs 43.72 crore on 5.4% increase in net sales to Rs 529.27 crore in Q4 March 2017 over Q4 March 2016.

Siyaram Silk Mills manufactures and markets textiles, cotton, woollen synthetics and synthetic blends. The company is known for its polyester blended worsted fabrics.

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