Raymond spurts as its arm sells entire stake in ROSE for Rs 20.19 crore

22 Sep 2016

Raymond is currently trading at Rs 529.65, up by 5 points or 0.95% from its previous closing of Rs 524.65 on the BSE.

The scrip opened at Rs. 535.00 and has touched a high and low of Rs. 541.00 and Rs. 526.00 respectively. So far 27663 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 544.00 on 21-Sep-2016 and a 52 week low of Rs. 351.50 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 544.00 and Rs. 465.00 respectively. The current market cap of the company is Rs. 3250.12 crore.

The promoters holding in the company stood at 42.40%, while Institutions and Non-Institutions held 20.08% and 37.52% respectively.

Raymond’s unlisted subsidiary - Ring Plus Aqua (RPAL) has entered into a Share Purchase Agreement with Neel Metals Products, to transfer by way of sale its entire equity share holding of 1,04,30,631 equity shares in its 50:50 Joint Venture Company namely ‘Rose Engineered Products India’ (ROSE). Consequent to said transaction ROSE ceases to be an associate of RPAL and Raymond. The Enterprise Value of ROSE was arrived at Rs 20.19 crore.

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.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
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