Shares of Raymond Limited skyrocketed over 14 per cent during the intraday trade on Thursday amid heavy buying interest. The stock started the session in positive territory with a decent gap-up at Rs 677.65, up Rs 10.55 or 1.58 per cent as compared to the last day’s closing of Rs 667.10 on the BSE.
The stock picked up momentum amid huge trading volume (more than 17.59 times) to touch the intraday high of Rs 764.10, surging 14.54 per cent from the last closing price, hitting a fresh 52-week high. Meanwhile, the 52-week low of the stock is 320.40.
What’s Triggering the Rally In Raymond Limited Stocks
Defence and aerospace orders
Raymond has always been known as a fabric manufacturer since the company came into existence. However, after recent demerger of lifestyle and real estate businesses, Raymond shifted its focus on aerospace, precision technology, and automotive components platform.
- It has also acquired Maini Precision Products Limited (MPPL), and with this, Raymond's engineering business has forayed into the aerospace & Defence & EV components sectors.
- Through JK Maini Global Aerospace, Raymond manufactures complex aircraft-engine components for more than 25 customers worldwide.
- The company’s revenue through these new businesses grew as well, with Q1 FY27 aerospace revenue increasing 40 per cent year on year to RS 123 crore.
- Raymond posted an over Rs 5,960 crore aerospace order book for the next ten-year
- Raymond has also said that it has secured its first build-to-specification order from a leading defence-aerospace OEM.
Raymond share price history: 78% Till Year This Date
According to BSE Analytics, the stock soared multi-fold to 412 per cent in five years. On a year-to-date (YTD) basis, the stock rose over 78 per cent.