InvestorQ : What is the reason for the sharp rally in the stock of Raymond?
Mitali Bhutta made post

What is the reason for the sharp rally in the stock of Raymond?

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12 months ago
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Raymond Ltd, which has a wide product portfolio ranging from textiles to retail to real estate development, has been enjoying a heady run in the markets in last few weeks. For example, the stock just scaled fresh highs of Rs.673 on the bourses. If you look at stock returns, then Raymond has rallied 33% in just the last one week. This is all the more appreciable as the Sensex actually trended lower during this period.

The trigger for this rally in Raymond came from the scheme of arrangement of Raymond Apparel and Raymond Ltd. Now, Raymond plans to lifestyle business will be hived off into a separate entity and this likely to provide better focus and more pointed capital allocation. Consumer facing businesses of Raymond are already seeing strong business growth and revival post COVID.

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