Ace investor Vijay Kedia picked up a stake in fabric and garment manufacturer during the third quarter of FY23, according to the latest shareholding data available with the exchanges.
Vijay Kedia bought about 5,00,000 shares in the December quarter, which amounts to a 1.07% stake in the company.
Promoters of the firm own a 67.18% stake, while the rest is held by the public. DSP Smallcap Fund also has a stake of about 2.2% in the company.
On Friday, Siyaram Silk’s shares were trading marginally higher in morning deals at Rs 538.90 on NSE. So far this year, the scrip has seen a flattish growth at the bourses. However, in the last one year, the stock has risen nearly 19%.
Siyarams is a manufacturer of fabrics, readymade garments, and other textile products, with a diverse range of offerings. Over the years, it has expanded its presence across the Middle-east and Sri Lanka.
According to Trendlyne data, Siyaram Silks has an average target price of Rs 610, which suggests an upside of about 13% from the current levels. The consensus estimate from analysts covering the stock is a “Buy”. Technically, the stock is trading above 8 out of 8 simple moving averages (SMAs).
Siyaram will announce its quarterly results on January 28, along with an interim dividend. It has fixed February 6 as the record date for the purpose of the payment of the interim dividend.In the past 12 months, Mills has declared an equity dividend amounting to Rs 10.20 per share. At the current share price levels, this results in a dividend yield of 1.89%.
Vijay Kedia owned stakes in about 16 companies, with a net worth of Rs 724 crore, as of the September quarter. Some of the popular names in his portfolio include
& Resorts, , among others.
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