Raymond Lifestyle’s dull debut

New Delhi: Shares of Raymond Lifestyle Ltd got listed on the stock exchanges on Thursday following the demerger of retail and lifestyle businesses. The stock got listed at Rs3,000 on the BSE. Later, it climbed 3.33 per cent to Rs3,100 from its opening price. At the NSE, shares of the firm began the trade at Rs3,020. However, the stock later hit the lower circuit level at Rs2,850, down 5 per cent on the BSE. At the NSE also, it hit the lower circuit limit of Rs2,869, down 5 per cent. The company’s market valuation stood at Rs17,363.23 crore during the morning deals. In a release on Tuesday, the company said it will get listed on the stock exchanges on September 5. Following the demerger of its retail and lifestyle businesses, Raymond will have two listed entities. The company plans to add 900 new outlets over three years.