Raymond rallies 14%, hits 21-month high on heavy volumes

According to media reports, the Raymond Group is working toward re-organising its businesses into five core revenue streams, deploying professional boards to raise growth capital in the future

Shares of Raymond hit a 21-month high, as they rallied 14 per cent to Rs 576.25 on the BSE in Tuesday’s intra-day trade on back of heavy volumes. The stock was trading at its highest level since February 2020. It had hit a record high of Rs 1,152 on May 2, 2018.

The trading volumes at the counter surged nearly 10-fold with a combined 5.43 million equity shares representing 8 per cent of total equity of Raymond changing hands on the NSE and BSE till 01:58 pm. In comparison, the S&P BSE Sensex was up 0.33 per cent at