New Delhi: Raymond share price plummeted around 40 per cent in morning trade on Thursday. Raymond shares were trading at Rs 2,001.30 apiece at 11:02 am today. The Raymond stock opened at Rs 1,906 on NSE. It closed at Rs 3,156.10 on July 10, 2024.
The shares of Raymond took a hit as the company’s spinoff of its lifestyle business comes into effect from today. The firm has set July 11 (Thursday) as the record date for the demerger. The Raymond Consumer Care Limited ( RCCL) is likely to get listed on stock exchanges within a month. The stockholders will receive four Raymond Lifestyle shares for every five Raymond shares held, and two shares for each Ray Global Consumer Trading share.
Raymond also wants the merger of its real estate business Raymond Realty (RRL). The Mumbai-based company has plans for three separate listed entities RLL, RRL and Raymond, with a focus on engineering tools and hardware, auto components, aerospace and defence businesses.
About Raymond
Raymond came into existence in 1925. It has now numerous businesses and has a portfolio of well-known brands in textiles, apparel, denim, consumer care, engineering and real estate. The Gautam Singhania-led company forayed into the real estate sector in 2019 with the development of a small piece of land in Thane. Raymond Realty is a well known real estate brand across Mumbai.
JK Files & Engineering Limited is a subsidiary of Raymond Ltd. It is the world’s largest manufacturer of steel files with a presence in over 55 countries. JK Files & Engineering offers versatile range of custom-made files and tools as per BS, FS, ISI and DIN standards or as specified by customers.
(Disclaimer: This article is only meant to provide information. News9live.com does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
Raymond shares were trading at Rs 2,001.30 apiece at 11:02 am on Thursday. In future, Raymond Group will have three separate listed entities RLL, RRL and Raymond. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
