Raymond up 17% to 52-wk high
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New Delhi: Shares of Raymond rallied more than 17 per cent on Friday after the textile major said it will demerge the real estate business to unlock the value for shareholders and harness growth potential in the Indian property market.The scrip of the company surged 17.30 per cent to trade at Rs 3,450.95 apiece on the BSE. On the NSE, Raymond shares soared 16.83 per cent to trade at Rs 3,434.75 per piece. In the intra-day trade, the stock of Raymond hit its 52-week high of Rs 3,480.35 and 3,484 on the BSE and NSE.
Meanwhile, the 30-share BSE Sensex benchmark declined 357.95 points or 0.45 per cent to 79,691.72. The broader Nifty fell 64.90 points or 0.27 per cent to 24,240.05. On Thursday, textile major Raymond Ltd said it will demerge the real estate business to unlock the value for shareholders and harness growth potential in the Indian property market.
