Raymond share price jumps 4% today, rallies 20% in 4 days - Here's why

Raymond's stock rose as much as 4.43 per cent during the day to Rs 1,479.19 per share, to the highest level since February 11 this year

Shares of Raymond rose over 4 per cent on Thursday, a day after the company informed that its Non-Executive Director Nawaz Modi Singhania stepped down from the post. 

 

Raymond's stock rose as much as 4.43 per cent during the day to Rs 1,479.1 per share, to the highest level since February 11 this year. The stock pared gains to trade 0.77 per cent higher at Rs 1,427.3 apiece, compared to a 0.36 per cent advance in Nifty 50 as of 10:10 AM. 

 

The rally in today's session comes after the stock saw about 16 per cent gains on March 18, on high volumes, taking the rally to 20 per cent in four sessions. The company's shares have fallen 16 per cent this year, compared to a 2.7 per cent fall in the benchmark Nifty 50. Raymond has a total market capitalisation of Rs 9,428.17 crore, according to BSE data. 

 

In the resignation letter disclosed by the company to the exchanges, Nawaz Singhania said, "Due to personal reasons, I hereby tender my resignation as Director of Raymond with immediate effect." Nawaz Singhania is the former wife of Raymond chairman and managing director Gautam Singhania. In November last year, following 32 years of marriage, Gautam Singhania declared his separation from his wife. 

 

Commenting on the resignation, Gautam Singhania said, “We thank Nawaz Modi Singhania for her services as a board member over the years. As a company, we are committed to upholding the highest level of governance while continuing to navigate the evolving landscape of the industry.”

 

With the inception in 1925, Raymond Group has been a pioneer and leader in fabric manufacturing and then forayed in other sectors such as engineering business and real estate. After demerging its lifestyle business into a separate listed entity in the year 2024, Raymond Ltd now has two core businesses of real estate and engineering.

 

The company reported a 61 per cent year-on-year (Y-o-Y) decline in net profit for Q3FY25, coming in at Rs 72.3 crore, compared to Rs 185.4 crore in the same quarter last year. The profit appears lower due to the previous year’s inclusion of the Lifestyle business, which has since been demerged into a separate listed entity. Revenue from operations rose 40.6 per cent Y-o-Y to Rs 953.9 crore, driven primarily by the real estate segment.