Raymond zooms 13% to a new 52-week high; stock up 33% in one week

Raymond convened shareholders meeting on December 27, 2021 to approve the scheme of arrangement of Raymond Apparel (demerged company) and Raymond (resulting company) their respective shareholders

Shares of Raymond continued the northbound journey, hitting a fresh 52-week high of Rs 673, on ralling 13 per cent on the BSE in Monday’s intra-day trade. In the past one week, the stock has zoomed 33 per cent, as compared to 1.7 per cent decline in the S&P BSE Sensex.

On Wednesday, November 24, 2021, Raymond informed the stock exchanges that it convened shareholders meeting on December 27, 2021 to approve the scheme of arrangement of Raymond Apparel (demerged company) and Raymond (resulting company) their respective shareholders.

The board of directors of Raymond at its meeting held