Update on Siyaram Silk. Add fresh for 20% upside in 3 months.
We had recommended Siyaram Silk at 376 (1880 before split) in May 2017 for a target of 480 (2400 before split). Later In October 2017, we had updated to hold for a revised target of 560 (2800 before split) Target was hit in 2 weeks. We had failed to update further.
Stock is now trading at 742, consolidating from its 52 week high of 799.
Results was decent and we expect stock to post decent numbers in coming quarterly resuts.
We have a target of 896. Have a SL at 690. 3 months.
On yearly point of view, any dip towards 690 can be bought for a target of 1100. SL 600.
Earlier call on Siyaram: