Shares of Sai Silks (Kalamandir) Limited rose by 1.62% to ₹169.55 in early trade on December 30, following the inauguration of the company’s 66th store under the Kanchipuram Varamahalakshmi Silks brand in Adyar, Chennai, Tamil Nadu. The store was officially opened on December 29, 2024, marking another step in the company’s strategic expansion in South India.
Key Highlights:
- Expansion Strategy:
- Sai Silks’ latest store opening is part of its broader strategy to enhance its market presence in South India, targeting growing demand for traditional silk sarees and ethnic wear.
- The store in Adyar caters to a customer base that values premium-quality silk and ethnic garments, a specialty of the Kanchipuram Varamahalakshmi Silks brand.
- Market Position:
- Sai Silks continues to focus on its brand value and customer engagement by establishing a strong footprint in high-potential markets.
- The move is expected to boost sales, leveraging the festive and wedding season demand in the region.
Share Movement:
- Stock Performance:
- The stock gained ₹2.70 from its previous close of ₹166.85.
- The positive sentiment around the store launch reflects investor confidence in the company’s growth trajectory.
