Raymond gains after completing acquisition of Robot Systems

Raymond rose 1.13% to Rs 396.90 at 9:38 IST on BSE after the company said that its wholly-owned subsidiary completed the acquisition of Robot Systems from Gokaldas Exports for Rs 28 crore.

The company made the announcement after market hours yesterday, 10 September 2015.

Meanwhile, the S&P BSE Sensex was up 183.72 points or 0.72% at 25,805.89.

On BSE, so far 13,000 shares were traded in the counter as against average daily volume of 33,000 shares in the past two weeks.

The stock hit a high of Rs 402.70 and a low of Rs 394.50 so far during the day.

Raymond said that its unlisted wholly-owned subsidiary, Silver Spark Apparel, has completed the acquisition of Robot Systems from Gokaldas Exports for Rs 28 crore.

On consolidated basis, Raymond reported net loss of Rs 13.72 crore in Q1 June 2015, lower than net loss of Rs 32.85 crore in Q1 June 2014. Net sales rose 1.2% to Rs 1109.21 crore in Q1 June 2015 over Q1 June 2014.

Raymond offers end-to-end solutions for fabrics and garmenting.

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