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Raymond gains on the buzz of plan to invest $100 million to set up plant in Ethiopia

16 Oct 2015 Evaluate

Raymond is currently trading at Rs. 461.00, up by 0.80 points or 0.17% from its previous closing of Rs. 460.20 on the BSE.

The scrip opened at Rs. 464.00 and has touched a high and low of Rs. 464.55 and Rs. 459.00 respectively. So far 4,812 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 579.50 on 09-Dec-2014 and a 52 week low of Rs. 360.05 on 25-Aug-2015.

Last one week high and low of the scrip stood at Rs. 465.95 and Rs. 428.95 respectively. The current market cap of the company is Rs. 2,829.00 crore.

The promoters holding in the company stood at 40.61% while Institutions and Non-Institutions held 20.16% and 37.92% respectively.

In order to manufacture and export woolen-blended and cotton-blended jackets, Raymond, India’s leading manufacturer and retailer of fabrics and garments, is reportedly planning to set up a 2 million units per annum capacity plant in Ethiopia, at a total investment of $100 million. The company wants to build the plant in Ethiopia due to favourable duty structure and local incentives.  Further, the company is being provided land on long-lease by the Ethiopian government. The company will also get electricity at a price which is a third of the cost of power in India, apart from the labour charges, which are almost half of India.

Raymond is one of India’s largest branded fabric and fashion retailers. It is one of the leading, integrated producers of suiting fabric in the world, with a capacity of producing 38 million meters of wool & wool-blended fabrics.



Raymond Share Price

422.05 0.55 (0.13%)
17-Apr-2026 16:59 View Price Chart
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