Raymond share price surged by over 4% on Thursday. This followed news of the resignation of Nawaz Modi Singhania (Non-Executive Director) on Wednesday.
Raymond share price surged by 4.43% during the day. It reached ₹1,479.1 per share, thereby recording its highest level from February 11, 2025. The stock pared some gains later in the day. It traded 0.77% higher at around ₹1,427.3 apiece.
The Nifty 50 rose by 0.36% as of 10:10 AM. The stock price increased by 16% on March 18, driven by high trading volumes. The rally reached 20% in 4 trading sessions. The company’s shares have witnessed a 16% decline this year. The Nifty 50 has declined by 2.7%. Raymond has a market capitalisation of ₹9,428.17 crore, as per the BSE.
In a letter disclosed to the exchanges, Nawaz Singhania resigned from his position due to personal reasons.
Raymond Group was formed in 1925. It is a respectable pioneer of fabric manufacturing. After its demerger in 2024, it has expanded its business activity. This includes engineering and real estate.
The company witnessed a 61% y-o-y fall in net profits. Its net profit was roughly ₹72.3 crore. In Q3 of FY 2023-24, the company earned ₹185.4 crore in net profits. The lower figures are a result of the demerger of the lifestyle business from others.
The company’s revenue from operations also increased by 40.6% year-on-year. It amounted to ₹953.9 crore, which was primarily driven by the growth of the real estate segment.
The stock market has reacted positively to Raymond’s director’s resignation. This is clear from the surge in Raymond share price. Hence, the company is going to focus on core businesses to drive business growth. This includes real estate.
The rise in Raymond share price indicates positive market sentiment after the director’s resignation. News reports suggest that the company will now focus on the engineering and real estate industry. Despite recording a reduction in net profits, sustained revenue growth indicates positive business performance.
As of 11.32 AM, Raymond share price was up 0.12% at ₹1414.65 on the NSE.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Mar 20, 2025, 12:14 PM IST
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