THIS Share Gives 81 pc Returns In 6 Months: Do You Have? Read Details

?Shares of textile manufacturer Raymond soared by 12 percent in intra-day trading today, reaching a record high of Rs 2,694.95 per share.
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THIS Share Gives 81 pc Returns In 6 Months: Do You Have? Read Details (Image Source: iStock)

People look out for investment options that will give better returns than regular savings. The people prefer several avenues to park their hard-earned money. The stock market is one of the option where people invest money for better returns.
However, it is a bit risky as the market is volatile in nature. However, there are stocks that are ripe for re-rating. Raymond is one of the such stocks.

Raymond Share Price

Shares of textile manufacturer Raymond soared by 12 percent in intra-day trading today, reaching a record high of Rs 2,694.95 per share.

81 Per Cent Return In Six Months

The increase in share price today has put the stock over 81 percent higher than its 52-week low of Rs 1,487, which was hit on December 1, 2023. It means the stock has given 81 per cent return in the last six months.

Why Raymond's Stock Price Is Increasing?

The surge in Raymond's stock is driven by a robust business outlook and recent acquisitions.

Raymond Stock Price: Return In Last 1 Year

Over the past year, the stock has gained nearly 40 percent.
Raymond Stock Price: Return In 2024
It has climbed more than 56 percent in 2024 so far.
Raymond Stock Price: Return Since April
Since April 2024 alone, it has jumped 49 percent.
Raymond Stock Price: Return In Last Three Months
The stock advanced 5 percent in May and 16.3 percent in April. In June, Raymond shares have risen almost 14 percent, marking the third consecutive month of gains.
Raymond Stock Price: Return In Last Three Years
Over the long term, Raymond has provided multi-bagger returns, surging over 613 percent in three years.
Raymond Realty Project Win
This month, Raymond Realty, a subsidiary of Raymond, secured a second redevelopment project in Bandra (East), expected to generate more than Rs 2,000 crore in revenue over the project period.
What Is The Project?
The project covers an area of 2 acres and aligns with the company's ambitious growth plans for real estate development in the Mumbai Metropolitan Region. Raymond Realty had previously signed three Joint Development Agreements (JDAs) in Bandra, Sion, and Mahim, with a combined revenue potential of over Rs 5,000 crore.
Acquisition Of Stake In MPPL
Earlier this year, Raymond acquired a 59.25 per cent stake in Maini Precision Products Limited (MPPL) for Rs 682 crore, funded through debt and internal resources.
What Is The Purpose Of This Acquisition?
This acquisition aims to transform Raymond's engineering division into a significant player in the engineering, automotive, electric vehicle (EV), aerospace, and defence sectors. The acquisition consolidates JK Files, RPAL, and MPPL into a new subsidiary, 'Newco,' with Raymond Ltd holding a 66.3 percent stake. Chairman Gautam Hari Singhania expects substantial growth opportunities in aerospace, defence, and EV sectors.
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