Raymond rises on plan to expand engineering business

10 Sep 2012

Raymond is currently trading at Rs. 356.95, up by 6.10 points or 1.74% from its previous closing of Rs. 350.85 on the BSE.

The scrip opened at Rs. 352.30 and has touched a high and low of Rs. 357.90 and Rs. 352.00 respectively. So far 10248 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 439.00 on 02-Apr-2012 and a 52 week low of Rs. 300.25 on 29-Dec-2011.

Last one week high and low of the scrip stood at Rs. 357.90 and Rs. 337.25 respectively. The current market cap of the company is Rs. 2185.16 crore.

The promoters holding in the company stood at 39.52% while Institutions and Non-Institutions held 34.67% and 24.43% respectively.

Raymond, a premium apparel maker, is planning for an aggressive expansion in the auto parts segment. The company aims to be a one-stop shop for vehicle manufacturers in the specialized category such as power trains (engine, transmission, drive shaft), while being present in other segments.

The entity is considering investing Rs 1,000-1,500 crore to fund its growth plans in the coming years. The company is in talks with private equity players and is also considering an initial public offering (IPO) of shares for its engineering business in the medium term.

The company is also looking to acquire another forged machine parts maker of medium size in India, while it is planning to acquire engineering technology firms abroad.

Related Raymond Ltd. Links:

Raymond Share Price

371.55 -7.30 (-1.93%) Feb 26, 18:55
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Peers
Company Name CMP
Raymond 371.55
Siyaram Silk Mills 215.20
Aarvee Denims & Exp. 18.10
KG Denim 27.85
Ludlow Jute &Special 79.30
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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