Raymond extended gains to touch a high of Rs 207 - up 6%. However, it could not hold on to gains and ended flat at Rs 197. Over 125,500 shares changed hands at the counter today.
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(Updated at 1021 hrs)
Riding on the strength of an expansion overdrive, apparel major Raymond is trading at the day's high of Rs 205 on the BSE, stronger by 4.7% or Rs 205. It hit a high of Rs 207 and a low of Rs 200 thus far.
The company plans to set up franchisees in the tier-IV and V towns and is targetting 712 towns. It is hoping to take its store count to 800 in 18 months, with the addition of 50 new stores every quarter.
Raymond currently has 464 shops and a total turnover of Rs 950 crore.
