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Raymond soars on divesting entire stake in Scissors Engineering Products

02 Nov 2021 Evaluate

Raymond is currently trading at Rs. 477.55, up by 12.20 points or 2.62% from its previous closing of Rs. 465.35 on the BSE.

The scrip opened at Rs. 468.35 and has touched a high and low of Rs. 480.00 and Rs. 467.95 respectively. So far 28190 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 486.25 on 18-Oct-2021 and a 52 week low of Rs. 270.00 on 02-Nov-2020.

Last one week high and low of the scrip stood at Rs. 480.00 and Rs. 435.90 respectively. The current market cap of the company is Rs. 3188.88 crore.

The promoters holding in the company stood at 49.12%, while Institutions and Non-Institutions held 11.40% and 39.48% respectively.

Raymond has divested its entire stake in Scissors Engineering Products (SEPL), a wholly-owned Subsidiary of the Company to JK Files (India), another wholly-owned subsidiary of the Company. Accordingly, SEPL has ceased to be a direct subsidiary of the Company effective from October 31, 2021.

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.

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