raymond share price: Raymond shares dropped 4.37 percent to a low of Rs 1,666 on the BSE. The stock is down 12.36% from its November 12 closing price of Rs 1,901.10.
Raymond Ltd shares plummeted more than 4% on Wednesday, extending its losing trend to a seventh consecutive day, as chairman Gautam Hari Singhania’s estranged wife Nawaz Gautam Singhania reportedly wanted 75% of his fortunes. According to reports, Singhania tentatively agreed to the demand and proposed establishing a family trust in which he would be the sole managing trustee. Nawaz Modi Singhania is said to be unhappy with the stipulations.
As of September 30, promoters owned 49.11 percent of Raymond. Nawaz is now a non-executive director at Raymond. Gautam, on the other hand, is the chairman and managing director. Nawaz Singhania claimed in an exclusive e-mail interview with India Today that her husband “beat up, smashed, and kicked” her. Singhania claimed she “punched” his underage daughter Niharika for roughly 15 minutes.
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Raymond shares dropped 4.37 percent to a low of Rs 1,666 on the BSE. The stock is down 12.36% from its November 12 closing price of Rs 1,901.10. Gautam Singhania joined Raymond’s board of directors as a full-time director in 1990. In 2000, he was promoted to the roles of Chairman and Managing Director.
The stock has fallen as a result of ICICI Securities initiating coverage on the stock on November 22. This firm has a ‘Hold’ rating on the stock and a Rs 1,860 share price objective, citing a challenging market environment, growing competition, and rising input costs as key risks to the stock’s upside. Antique Stock Broking rates the stock as buy, with a price target of Rs 2,500.
Billionaire Gautam Singhania announced his divorce from his wife Nawaz on November 13, claiming the two had decided to pursue different paths. In 1999, Singhania, 58, married Nawaz Modi, the daughter of solicitor Nadar Modi.
Frequently asked questions
Is Raymond good stock to buy?
MoneyWorks4Me’s Price Trend analysis reveals that it is Semi Strong, implying that the price of Raymond Ltd is likely to rise-somewhat in the short future. However, before investing, please check the Quality and Valuation ratings.
Why Raymond is falling?
Why are Raymond Ltd’s shares falling? Investors began selling Raymond Ltd shares after firm Chairman Gautam Singhania announced his divorce from his wife in a tweet. He has agreed to form a family trust under certain conditions.
Who is the real owner of Raymond?
Gautam Vijaypat Singhania (born September 9, 1965) is a businessman from India. He is the chairman and CEO of the Raymond Group, the world’s largest manufacturer of suiting fabric.
Is Raymond debt free?
Raymond Ltd’s ability to generate good income from the textile sector and then invest it in the real estate market, where leverage is high, has long piqued the Street’s interest. Raymond’s consolidated total debt was Rs 2,022 crore as of December 2022, while net debt was Rs 932 crore.
what is raymond share price?
Raymond’s share price was Rs 1,679.90 at 10:35 a.m. IST on November 23, 2023. Raymond’s share price increased by 0.16% from the previous share price of Rs. 1742.45. Raymond’s share price has fallen by 1.61% in the last month.
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