This smallcap textile stock zooms to new 52-week high: Do you own it?
After Siyaram Silk Mills unveiled four luxury fragrances under the brand Cadini Italy, its stock climbed to a fresh 52-week high.
Shares of Siyaram Silk Mills in Friday's trade zoomed to a fresh 52-week high of Rs 937.85 per share on the BSE. At the last count, the textile stock was up nearly 9 per cent or Rs 73.10 at Rs 910.4, after climbing over 12 per cent intra-day.
The uptick in the stock price was triggered after the company under the brand name Cadini Italy, a global symbol of Italian craftsmanship and timeless elegance, launched Cadini Italy perfumes in India. This momentous occasion marked a significant milestone in the brand's global expansion, bringing its timeless collection of meticulously crafted Italian luxury to the Indian market, added the company's release.
Known for its internationally sought-after men’s fashion, Cadini Italy now extends its promise of luxury with a fragrance collection. During the exclusive launch, the company introduced four exceptional handpicked fragrances: Leonardo’s Secret, Italian Renaissance, Roman Affair, and Sicilian Romance. The perfumes are available in three variants—100 ml, 35 ml, and 2 ml.
On the launch, Ramesh Poddar, Chairman and Managing Director, Siyaram Silk Mills Limited, said, “We are extremely proud to launch Cadini Italy Perfumes, marking a new chapter in our legacy of Italian sophistication and exceptional craftsmanship. This launch, along with Cadini Italy’s first-time foray into e-commerce, highlights our commitment to exquisite, world-class craftsmanship in delivering Italian luxury to Indian consumers.”
Daniella Nicolle Faralli, Cadini Italy Brand Director, currently based in Florence, Italy, said, "India signifies more than a market for Cadini Italy; its a deep connection that transcends geographical borders. The launch of Cadini Italy Perfumes in India is an exciting step forward. With these four exceptional fragrances, we aim to celebrate individuality, evoke emotion, and create unforgettable memories, bringing the essence of Italy to India."
Additionally, the launch of our e-commerce platform opens a new chapter in Cadini Italy’s journey, expanding our reach to a broader audience and making Italian elegance more accessible to the Indian demography, added Daniella.
Siyaram Silk Mills share price performance
On a year-to-date basis, the stock has gained 71 per cent, while its 3-year return is 103 per cent.
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