Raymond climbs 6.8% following its clarification on 'curious transactions'

Shares of Raymond rose as much as 6.79 per cent to Rs 700 apiece on BSE in the intra-day trade on Friday after the company released clarification on "curious transactions".

Shares of Raymond rose as much as 6.79 per cent to Rs 700 apiece on BSE in the intra-day trade on Friday after the company released clarification over a media report alleging "curious transactions" by the Indian firm was "misleading".

"We reiterate that our related party transactions are undertaken in compliance with laws. We have taken appropriate approvals, made relevant disclosures and undertaken all related party transactions on an arm's length basis, which has been certified by independent reputed accounting firms" said in a press release.

The report by BloombergQuint said transactions show that Raymond has been selling goods to