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Shareholders will now hold equity in both Raymond Ltd and the newly carved-out Raymond Realty, which will operate as an independent entity.
Tata Communications presents a decadal compounder opportunity and is reasonably priced, offering a favourable risk-return trade, says the fund manager
Each shareholder of Raymond Limited will get 4 shares of Raymond Consumer Care for every 5 shares held, when the latter lists
While the managing director of Equity Intelligence follows value investing as a strategy and looks for smart companies with big growth potential, he still gets a kick out of speculative trading.
Total expenses in Q1 FY 2021-22 were at Rs 971.06 crore, up 78.54 percent over Rs 543.87 crore earlier.
Raymond's total expenses were at Rs 1,274.38 crore in the third quarter of FY2020-21, down 30.9 percent compared to Rs 1,844.69 crore in the year-ago quarter.
"A meeting of the committee of board of directors of the company was held today i.e. on January 21, 2021. The committee of directors at the said meeting… approved the issue of non-convertible debentures for an amount up to Rs 200 crore on private placement basis,” Raymond said in a regulatory filing.
The Raymond group, which has interests in the textile, apparel, FMCG, engineering, prophylactics and real estate sectors, was battered by Covid. In FY20, it recorded consolidated revenue of Rs 3,186 crore, only to see this shrink to a mere Rs 24 crore in the first quarter of FY21 and Rs 254 crore in the second quarter. But with the economy opening up, Chairman and Managing Director Gautam Hari Singhania told Moneycontrol things are looking up for Raymond with most group businesses at 90 percent of their pre-Covid levels
The NCDs are proposed to be listed on the National Stock Exchange, it added.
Its net sales rose 1.91 per cent to Rs 1,883.17 crore during the period under review as against Rs 1,847.75 crore in the corresponding quarter of previous fiscal.
Confirmation of the breakdown will come once the index starts to trade below 10,782. A break below 10,782 would take the Nifty towards the next support which is placed at 10,580 levels
The company had posted a net profit of Rs 1.92 crore in the April-June period a year ago, Raymond said in a BSE filing.
'All related party transactions are transparently disclosed and are at an arm's length in the ordinary course of business,' a Raymond spokesperson told Reuters.
The US Fed meeting would be the key trigger in the near term. The market has more or less factored in a 25 bps hike, said Rajesh Palviya of Axis Securities
Once the Nifty manages to surpass 10840, we may possibly see the beginning of Santa rally in our market, which would immediately lift the index towards 10941 and above.
For the week, volatility is likely to remain subdued and hence traders are advised to remain stock specific. The bias as mentioned above remains positive.
Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a fall of 9.5 points or 0.09 percent. Nifty futures were trading around 10,660-level on the Singaporean Exchange.
"Sustaining above Rs 950 levels, Raymond can be expected to hit a target of Rs 1097 levels in the near term. Hence, positional traders are advised to go long on the stock for the said target with a stop loss below Rs 947," says Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in.
Vijaypat Singhania has moved the High Court alleging that his son is refusing to fully honour an arbitration award over a property dispute among the family members.
Raymond always follows the path of hedging its exposure. So this is a temporary phenomenon of Rs 8 crore, excluding this component - then there is a healthy growth of 12 percent in EBITDA and the profit after tax (PAT) level
Raymond Ltd has temporarily suspended operations at its textile manufacturing plant in Valsad district of Gujarat, following closure notice from Gujarat Pollution Control Board (GPCB).
Raymond Ltd, world's largest producer of suiting fabrics today said its ad spend on social media is likely to grow by 400%.
By Mr Gautam Singhania, Chairman and MD, Raymond Ltd
