Raymond shares jumped 12% today; will this strong move continue?
Shares of Raymond Ltd on Tuesday surged 11.56 per cent to settle at Rs 1,798.65. The stock saw high trading volume on BSE as around 5.29 lakh shares changed hands today. The figure was way more than the two-week average volume of 20,000 shares. Turnover on the counter came at Rs 94.16 crore, commanding a market capitalisation (m-cap) of Rs 11,974.28 crore.
The company listed its apparel arm — Raymond Lifestyle — on bourses following demerger in September this year. Next, it plans to list its real estate unit by 2025 to boost shareholder value. “Raymond Lifestyle has outlined an ambitious growth strategy, projecting 12-15 per cent revenue growth and targeting a doubling of EBITDA to Rs 2,000 crore by FY28. The company’s real estate…
