Raymond shares hit back-to-back upper circuits for 2 days; Here's why

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Raymond shares hit a 5 per cent upper circuit in trade for the second consecutive session on Thursday, at ₹584.25 per share on BSE. The buying on the counter came a day after the stock traded ex-date for demerger of its realty business, Raymond Realty.

 

"The board of directors of the company has fixed Wednesday, May 14, 2025, as the Record Date for the purpose of determining the eligible shareholders of Demerged Company (RL) to whom the equity shares of the Resulting Company (RRL) would be allotted in terms of the Scheme," the filing read.  

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The ex-date for a demerger is the date on which shares of the parent company start trading without the right to receive shares of the demerged (spun-off) company.

 

At 9:24 AM, Raymond shares were up 5 per cent at ₹584.25 per share on the BSE. In comparison, the BSE Sensex was down 0.29 per cent at 81,091.15. The market capitalisation of the company stood at ₹3,889.57 crore. The 52-week high of the stock was at ₹1,243.51 per share and the 52-week low of the stock was at ₹431.1 per share. 

Raymond demerger details 

Raymond proposed to demerge its realty business in July 2024. According to the company, the move would unlock the value for shareholders and harness growth potential in the Indian real estate market.

 

The proposal was approved by the board of Raymond Ltd and Raymond Realty Ltd and their respective shareholders. Post the demerger, both entities were to be listed separately on the bourses.

 

After the demerger, the new company, Raymond Realty, will be listed on both the stock exchanges after obtaining the necessary approvals.  ALSO READ | Tata Power share price rises 2% on healthy Q4 results; profit jumps 25% YoY

 

Raymond Realty will issue over 67 million equity shares having a face value of ₹10 each to the equity shareholders of Raymond, after the demerger. According to the company’s stock exchange filing, “Further, upon allotment of equity shares by Raymond Realty, the entire pre-scheme paid-up share capital of Raymond Realty held by Raymond shall stand cancelled, and the paid-up share capital of Raymond Realty to that effect shall stand cancelled and reduced, without any consideration.”