Shares of Raymond hit a 21-month high, as they rallied 14 per cent to Rs 576.25 on the BSE in Tuesday’s intra-day trade on the back of heavy volumes. The stock has been trading at its highest level since February 2020. It had hit a record high of Rs 1,152 on May 2, 2018.
The trading volumes at the counter surged nearly 10-fold with a combined 5.43 million equity shares representing 8 per cent of the total equity of Raymond changing hands on the NSE and BSE till 01:58 pm. In comparison, the S&P BSE Sensex was up 0.33 per cent at 58,664.
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Raymond is the largest integrated manufacturer of worsted fabric in the world and is a leading Indian lifestyle textile and branded apparel company with interests in engineering such as files power tools auto-components) FMCG and realty.