I think this is a typical hope stock.
Last year they seem to have hired some PR firm and got published in forbesindia. The high profile CEO has resigned since then & someone from Akzo Noble ( surender bhatia ) has joined in.
Interesting thing to note :
Surender bhatia was drawing close to 70 lakh per annum at Akzo Nobel.
He has joined Shalimar with a salary of less than 50 lakh + incentive bonuses.
How to interpret this ?
Link to last years article after which stock rushed from 80 to 150+.