Raymond shares at
new highs, jump 43%
in a month! What's driving the rally, and should you buy?
Produced by: Harshita Tyagi
Designed by: Pragati
Raymond shares continued trading in the positive territory on April 27, 2023, as they surged almost 9% to hit their all-time high of Rs 1,755.35 on BSE in the morning trade.
Raymond shares
hit a new high
The stock has been rallying since April 13, and if it manages to close with gains on Thursday, it will have extended the gains into the 10th consecutive session.
Raymond share price
Recent news reports suggesting that Godrej Consumer Products is in advanced talks for a deal with Raymond for its consumer care business have acted as a trigger for the stock.
Why is Raymond
stock rising?
In the last six months, Raymond stock has gained over 48% on NSE, against a 0.5% gain in benchmark Nifty 50. Raymond share price has rallied over 40% in just the last one month.
Raymond share price performance
Raymond stock is trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Shares of Raymond have gained 93% in the last one year, and have risen 11% so far in 2023.
Raymond shares up
93% in 1 year
Raymond stock hit a 52-week low of Rs 738.95 on May 12, 2022 and a 52-week high of Rs 1644 on December 16, 2022.
Raymond 52-week
high, low
On April 25, Raymond said that its wholly-owned subsidiary - Silver Spark Apparel Limited - had acquired a 100% stake in Raymond America Apparel INC, incorporated in New Jersey.
Raymond America
acquisition
Raymond is a mid-cap stock with a market capitalization of around Rs 11,200 crore as of 11:30 am on April 27. The company is a diversified group but deals majorly in the textile and apparel segment.
Raymond m-cap
"The price of Raymond has historically been rather volatile. Before taking any new positions, investors should wait for a pullback. Those Investors who are already holding, they can continue the position," said Naveen Mishra, Senior Research Analyst - Equity Research, CapitalVia Global Research.
Should you buy
Raymond shares?
Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position.