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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

Buzzing stocks | Raymond | Market trends

SI Reporter  |  Mumbai 

Raymond consolidates tools & hardware, auto parts biz into engineering biz

Shares of 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 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 58,664.

is the largest integrated manufacturer of worsted fabric in the world is a leading Indian lifestyle textile and branded apparel company with interests in engineering such as files power tools auto-components) FMCG and realty.

Raymond has some of the leading brands within its portfolio ‘ –Raymond Ready to Wear’, ‘Park Avenue’, ‘ColorPlus’, ‘Parx’, ‘Raymond Made to Measure ’amongst others.

The company’s branded textiles segment accounted 47 per cent of total revenue. In July-September quarter (Q2FY22), the segment reported strong growth of 214 per cent year on year to Rs 722 crore, driven due to improvement in both primary sales as well as secondary sales. The segment posted healthy EBITDA margin of 16.8 per cent mainly driven by operational efficiencies.

Raymond also has presence in FMCG sector through Raymond Consumer care that offers wide range of products in men’s personal grooming category and personal hygiene.

The group also has presence in engineering and auto components across national and international In 2019, Raymond has also forayed into the realty sector through the launch of its maiden project ‘Aspirational District ’spread across 14 acres housing around 3,100 residential units.

According to Economic Times report, the Raymond Group is working toward reorganising its businesses into five core revenue streams, deploying professional boards to raise growth capital in the future.

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First Published: Tue, November 23 2021. 14:23 IST