Siyaram Silks Share Price Hits Life High After Launch Of Cadini Italy Perfume In India
Siyaram Silk launched Cadini Italy Perfumes in India, introducing four fragrances.
Siyaram Silk Mills Ltd.'s share price surged to hit its lifetime high on Friday, a day after it launched Cadini Italy Perfumes in India at the Taj Mahal Palace, Mumbai.
The exclusive launch introduced four fragrances: Leonardo’s Secret, Italian Renaissance, Roman Affair, and Sicilian Romance, available in three variants—100 ml, 35 ml, and 2 ml, according to an exchange filing.
India signifies more than a market for Cadini Italy; its a deep connection that transcends geographical borders, the company said in the filing.
"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," it said.
Siyaram Silks Share Price
The scrip rose as much as 12.05% intraday to Rs 939 apiece, the highest level, before paring gains to trade 10.3% higher at Rs 923.85 apiece, as of 9:50 a.m. This compares to a 0.7% decline in the NSE Nifty 50.
It has risen 73.2% on a year-to-date basis. Total traded volume so far in the day stood at 1.92 times its 30-day average. The relative strength index was at 72, indicating that the stock may be overbought.
