Page 3 - Raymond

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

Raymond Q4 results: Profit jumps 18% to Rs 229 cr on strong realty demand

The company, which sells clothes to luxury homes, said its consolidated profit rose to 2.29 billion rupees ($27.5 million)in the three months to March 31, compared with 1.94 billion rupees a year ago

Tailored for you: Why it makes better style sense than readymade clothing

The neigbourhood tailor or a designer's team will dress you the way you like and what suits your shape

Nawaz Modi Singhania removed from boards of 3 Raymond Group firms

Their shareholders wrote to the companies that they lost confidence in Singhania as a Director and requested to convene a shareholder meeting to remove her from the boards, the statements said

Vijaypat Singhania rules out reconciliation with estranged son Gautam

Raymond patriarch Vijaypat Singhania on Tuesday ruled out reconciliation with his estranged son Gautam Singhania, whose social media post of a photo of them sparked speculations of resolving their differences. In a video message, Vijaypat Singhania said he had reluctantly gone to meet his son Gautam who insisted he meet over a cup of coffee without realising it was for an ulterior motive for taking my photograph, with GHS (Gautam Hari Singhania) to send a wrong message to the media. On March 20, billionaire Gautam Singhnia posted a photo on the microblogging platform X' through his account @SinghaniaGautam with his father Vijaypath. It was with a caption: Happy to have my father at home today and seek his blessings. Wishing you good health Papa always. A reply from the Raymond group is still awaited over this. In the video message, the senior Singhania said, Since the media is asking, I am clarifying my position. I try to clarify my position. On Wednesday on March 20, while I was

Raymond Realty launches Bandra project with Rs 2,000 cr revenue potential

Raymond Realty, the real estate arm of Raymond Group, on Tuesday said it will develop a premium housing project at Bandra in Mumbai with an estimated revenue of around Rs 2,000 crore. In a regulatory filing, Raymond Ltd informed that the company has launched its first project outside Thane through a joint development agreement (JDA) with a land owning entity. The project named 'The Address by GS, Bandra' is spread over an area of 2.74 acres. "This project also promises substantial economic returns, with projections indicating a revenue generation over Rs 2,000 crore," Raymond said. Raymond is into textiles, apparel, denim, consumer care, engineering and real estate businesses.

Raymond Q3 results: PAT jumps to Rs 185 cr on branded apparel, realty boost

It had logged a net profit of Rs 96.60 crore in October-December FY23, according to a regulatory filing by the company

Gautam Singhania's JK Investors pays Rs 328 cr penalty in customs case

The DRI accused Raymond Group CMD Gautam Singhania of evading custom duties on the import of 142 vehicles, including 138 vintage cars

Gains and many losses: 2023's blend of revival and heartfelt goodbyes

A hot streak for entertainment that beat the Covid blues, and views and verdicts that caused ripples made news in a year when several stalwarts bid adieu

Raymond independent directors hire lawyer to protect minority shareholders

Company's interests 'paramount consideration', they say as fight between chairman Gautam Singhania and his estranged wife pulls down market value

Raymond reiterates commitment to protect interests of minority shareholders

Shares of Raymond have declined over 14 per cent in a month. In the past 12 trading sessions, the stock has declined 20 per cent