Page 2 - Raymond

Raymond up 9% on confirming demerger and listing of lifestyle, realty biz

Raymond will demerge into three entities--Raymond, Raymond Lifestyle and Raymond Realty

Raymond receiving large number of biz inquiries after B'desh crisis: CMD

Leading textiles and apparel company Raymond has received a "huge number of inquiries" from global firms after the crisis in neighbouring Bangladesh and is ready to grab this opportunity, its Chairman & Managing Director Gautam Hari Singhania said. Raymond, which has invested in its garmenting facility to become the third largest suit maker in the world, is ready to "take advantage" from the current situation, Singhania told PTI. Asked if he expects shifting of some garmenting business to India from Bangladesh, he said, "We are hoping so. We are seeing the inquiries. It obviously needs a little bit of time, but we are certainly seeing positive signs on that." India is better-placed with its end-to-end supply capabilities linking all stages as companies as Raymond are present in both fabric and garmenting business, which, in turn, will save time for international brands also on final delivery, he said. "Bangladesh does not have a fabric supply. India has got a great opportunity to .

With long-term vision, I aimed at creating 3 separate businesses: Singhania

Singhania says he has laid the groundwork for a promising future

Raymond Lifestyle expands board size to 10 members ahead of listing

RLL, a branded textile and apparel company, is expected to list in early September. The company was hived off from Raymond last month

Retail sector slashes 26,000 jobs due to falling demand, expansion halt

The reduction was primarily driven due to Reliance, Titan, Raymond, Page, and Spencers, which cut 52,000 jobs, or 17% of their workforce

Raymond Q1 results: Net profit rises 27% to Rs 57.04 cr from operations

Raymond Ltd on Tuesday reported a 26.7 per cent increase in consolidated net profit from continuing operations at Rs 57.04 crore in the first quarter ended June 2024. The company had posted a consolidated net profit of Rs 45.02 crore from continuing operations in the same quarter last fiscal, Raymond Ltd said in a regulatory filing. Revenue from continuing operations in the first quarter stood at Rs 937.65 crore as against Rs 473.37 crore in the year-ago period, it added. During the quarter ended June 30, 2023, a scheme of demerger of the lifestyle business of Raymond Ltd into Raymond Lifestyle Ltd was accorded board approval. The demerger of the lifestyle business was completed on June 30, 2024, the company said, adding the listing of Raymond Lifestyle Ltd is expected in the second quarter of this year. The main business of Raymond Ltd now includes real estate and engineering businesses. "Our real estate business continues to expand its portfolio through the JDA (joint developmen

IFCI, MMTC, STC, Suzlon, Raymond among 354 stocks locked in upper circuit

IFCI (Rs 84), MMTC (Rs 102.60) and STC India (Rs 203.40) were frozen at the 20 per cent upper limit on the BSE.

Raymond stock trades ex-lifestyle biz; gains 4% from discovered price

Shares of Raymond Lifestyle to list within a month; Raymond shareholders to be allotted 4 equity shares of Raymond Lifestyle for every 5 shares held in Raymond as of July 11 record date.

Raymond in focus amid lifestyle unit spinoff; likely to list RRL in a month

Raymond has also proposed the merger of its real estate business Raymond Realty (RRL)

Raymond rallies 7% as Board approves vertical demerger of real estate biz

Upon the completion of this demerger, Raymond and Raymond Realty will operate as separate listed entities within the Raymond Group

How to trade Raymond stock as board okays biz split; key levels to watch

Raymond stock outlook: Raymond has rallied 65 per cent in the last 3 months, and over 100 per cent in 7 months; the stock needs to break above Rs 3,173 for a further rally, suggests technical charts

Raymond to demerge real estate business, list realty vertical on exchanges

Textile major Raymond Ltd on Thursday said it will demerge the real estate business to unlock the value for shareholders and harness growth potential in the Indian property market. In a regulatory filing, the company informed that its board has approved the scheme of arrangement of Raymond Ltd (demerged company) and Raymond Realty Ltd (resulting company) and their respective shareholders. As per the scheme of arrangement, each Raymond Ltd shareholder will receive one share of Raymond Realty for every one share held in Raymond Ltd. The standalone operational revenue of the real estate division stood at Rs 1,592.65 crore in the last fiscal, accounting for 24 per cent of the total revenue of Raymond Ltd. This will be subject to the requisite approvals and sanction of the jurisdictional bench of the National Company Law Tribunal (NCLT) and subject to the approval of shareholders and/or creditors, central government, or such other competent authority as may be directed by the NCLT. Upo

Raymond shareholders approve reappointment of Gautam Singhania as MD

Textiles and fabric manufacturer Raymond Ltd on Thursday said its shareholders have approved the reappointment of Gautam Hari Singhania as Managing Director for five years effective from July 1, 2024, along with his proposed remuneration. The shareholders of the company at their Annual General Meeting (AGM) held today (June 27) have approved the re-appointment of Singhania," Raymond Ltd said in a regulatory filing. Proxy advisory firm, IiAS had asked shareholders of Raymond to vote against the reappointment of Chairman & Managing Director Gautam Singhania on the board of the company. IiAS had called for an independent investigation into the accusations of domestic violence and misappropriation of funds raised by his estranged wife Nawaz Modi by the board of the company. Moreover, it has also called for Singhania and Nawaz Modi to step off the board of Raymond until the divorce-related issues are settled and the results of an independent investigation are received. Besides, IiAS

Fabric maker Raymond to add over 100 stores of ethnic wear brand in FY25

Leading textile and fabric manufacturer Raymond has plans to add over 100 stores of its ethnic wear brand 'Ethnix by Raymond', the latest annual report of the company said. Raymond, which has introduced Ethnix format couple of years ago as a brand for occasions and celebrations, now has over 114 stores. The company intends to fuel growth with 'Ethnix By Raymond' as it taps into the exponentially growing segment of ethnic wear in India, it said. "As the Indian weddings are getting glitzier and people are celebrating the various occasions, we have expanded are our store footprint by taking Ethnix by Raymond to the length and breadth of the country," Chairman and Managing Director Gautam Hari Singhania said while addressing shareholders. Ethnix business is already contributing to the topline of the branded apparel segment of Raymond with its strong performance. "Going forward we will open more doors for this category and will be celebrating with Bharat by adding 100+ of new stores of

Raymond surges 12%, hits record high; stock zooms 55% in four months

Raymond share price news: With the acquisition of Maini Precision Products Limited business, Raymond Group aims to venture into sunrise sectors of Aerospace, Defense and EV Components

Advisory firm against Gautam Singhania's reappointment to Raymond's board

A proxy advisory firm has recommended the shareholders of the leading textile and fabric manufacturer Raymond to vote against the reappointment of Chairman & Managing Director Gautam Singhania on the board of the company. It has called for an independent investigation into the accusations of domestic violence and misappropriation of funds raised by his estranged wife Nawaz Modi by the board of the company. Moreover, it has also called for Gautam Singhania and Nawaz Modi to step off the board of Raymond until divorce-related issues are settled and the results of an independent investigation are received. Besides, the proxy advisory firm IIAS has also recommended Raymond shareholders to vote against the proposed remuneration structure for Singhania claiming that it allows him to be paid in excess of regulatory thresholds. An e-mail sent to Raymond remained unanswered by the time of filing of the story. Raymond is conducting its Annual General Meeting on June 27, in which it has ...

Buzzing: IRB Infra block deal, Vi Board meet, RVNL, Raymond order win

Stocks to Watch on Tuesday, June 11, 2024: Domino's, a franchise of Jubilant FoodWorks, opened its 2000th store in the country on Monday

Raymond to add 300 stores in next 12 months, says Gautam Singhania

Rural demand to pick up with expectations of good monsoon

'My personal life is mine, does not concern anyone', says Gautam Singhania

Gautam Singhania, chairman and managing director of Raymond, said that his personal life does not concern anyone in the business space as he is in the middle of a settlement dispute with his estranged

Raymond re-appoints Gautam Singhania as MD for 5 years amid divorce dispute

'Group has made enormous progress under his stewardship', says company