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Raymond Demerger: Stock hits record high - Check share ratio and other details
Raymond Demerger News, Raymond Share Price: The surge in share price comes after the company's board approved the demerger of its real estate business, Raymond Realty.
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Raymond Demerger News, Raymond Share Price: The stock has gained over 95 per cent in one year.
Written By: Raghwendra Shukla
Updated: Fri, Jul 05, 2024
12:53 PM IST
12:53 PM IST
New Delhi , ZeeBiz WebDesk
Raymond Demerger News, Raymond Share Price: Shares of textile major Raymond Ltd skyrocketed on Friday to hit a new record high of Rs 3,484 - a surge of around 18.5 per cent from the previous close of Rs 2,941.90 on the BSE. Last seen, the counter held firmly in green and was trading at Rs 3465.45. The surge in share price comes after the company's board approved the demerger of its real estate business, Raymond Realty.
Shares of the company have gained after three days of consecutive fall and are trading higher than 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
Raymond in News
Raymond Ltd on Thursday said it will demerge the real estate business to unlock the value for shareholders and harness growth potential in the Indian property market.
TRENDING NOW
In a regulatory filing, the company informed that its board has approved the scheme of arrangement of Raymond Ltd (demerged company) and Raymond Realty Ltd (resulting company) and their respective shareholders.
The standalone operational revenue of the real estate division stood at Rs 1,592.65 crore in the last fiscal, accounting for 24 per cent of the total revenue of Raymond Ltd.
This will be subject to the requisite approvals and sanction of the jurisdictional bench of the National Company Law Tribunal (NCLT) and subject to the approval of shareholders and/or creditors, central government, or such other competent authority as may be directed by the NCLT.
Raymond Share Price History
The stock has gained over 95 per cent in one year and has given a multibagger return of over 274 per cent in two years. The counter has made investors wealthier by 711 per cent in three years.
Raymond Demerger Ratio
After the demerger, an investor holding one share of Raymond Ltd will receive one share of Raymond Realty. The shares issued by Raymond Realty Ltd would be listed on BSE Ltd and the National Stock Exchange (NSE).
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Raghwendra Shukla
Raghwendra Shukla
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